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6.6% tax-free bonds for 7 UTI schemes soon

March 05, 2004 20:05 IST

The government will soon come up with Rs 5,000 crore (Rs 50 billion) bonds, offering a tax-free return of 6.6 per cent for investors in seven assured return schemes of the Unit Trust of India.

The bonds would be offered as a conversion option to investors of seven schemes which are being foreclosed from April 2004, official sources said on Friday.

The Specified Undertaking of UTI (SUUTI) is coming out with tax-free bonds for premature closure of seven assured return schemes -- Children's Gift Growth Fund of 1986 (CGCF-86), Children Gift Growth Fund of 1999 (CGCF-99), Bhopal Gas Victims MIP 1992 (BGVMIP), Monthly Income Plan of 1998 and 1999, Rajlakshmi Unit Plans of 1994 and 1999, they said.

UTI has obtained highest safety 'LAAA(SO)' rating from credit rating agency ICRA for the bonds.

The value of bonds provided would be equal to the assured value of the units as on March 31, 2004.
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Number of User Comments: 5



Sub: ARS Bonds

I want to withdraw my ARS Bonds purchased in my daughters name in 1997 (ID NO. 222456673). Is it good decision or not? Regards, Mahender ...


Posted by Mahender Kumar



Sub: redumption

dear sir please let me know how can i sell my bonds before maturity. thanking you


Posted by ashutosh singh



Sub: UTI 6.6% ARS Bonds

I want to know conversion ration of UTI CGGF into ARS bonds. For Ex. if I invested rs 20,000/- in CGGF on behalf of mu ...


Posted by Nancy



Sub: uti, 6.6tax free ARS Bonds

Shall appreciate details, payment of interest dues, and date of maturity


Posted by lalitlklakhotia



Sub: regarding Children's gift growth fund

I have purchased 200 Units for my both the children under children's gift growth fund unit scheme 1986 which was closed. whatis best scheme to ...


Posted by SUBRAHMANYAM


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