UTI staff on protest path over makeover strategy

Unit Trust of India’s employees on Friday continued with their protest against the Centre’s decision to privatise the mutual fund behemoth and bifurcate it into two separate units.

On Friday, the joint action committee of UTI staff held a press conference in Mumbai about their future plan of action with regard to the ordinance passed to bifurcate UTI into UTI-I—the assured return scheme portion—and UTI-II, which will accommodate net asset value (NAV)-based schemes. UTI is home to about 2,464 employees out of which around 1,500 employees are in its Mumbai office.

Addressing the press conference, Gajanan Kirtikar, MLA and convener-Joint Action Committee of UTI Staff said: “After two days of protest in front of most UTI offices, we are now planning to discuss the ordinance issue with various leaders and ruling party MPs. We will continue to protest and if required, we will go ahead and call for a strike”.