Mumbai: UTI Mutual Fund has been mandated to manage the funds under the Bihar Government's welfare scheme for girl child. The Mukhya Mantri Kanya Suraksha Yojana scheme was rolled out by the State Government with the objective of checking female foeticide, improving the sex ratio and encouraging registration of birth. UTI MF said it has signed a tripartite agreement with the Bihar Government and Women Development Corporation of Bihar.
Under the scheme, the State Government will contribute Rs 2,000 for every girl child born on or after November 22, 2007 in below poverty line families. The amount will be invested by Women Development Corporation of Bihar, in UTI Children's Career Balanced Plan Growth Option. The benefits of the yojana will be limited to two girls per family falling below the poverty line.
UTI Children's Career Balanced Plan, launched in July 1993 as an open-end plan, currently has a corpus of Rs 2,600 crore. The scheme has an asset allocation limit of minimum 60 per cent in debt and maximum 40 per cent in equities and related instruments. The State Government has put in Rs 3 crore.
Under the scheme, the State Government will contribute Rs 2,000 for every girl child born on or after November 22, 2007 in below poverty line families. The amount will be invested by Women Development Corporation of Bihar, in UTI Children's Career Balanced Plan Growth Option. The benefits of the yojana will be limited to two girls per family falling below the poverty line.
UTI Children's Career Balanced Plan, launched in July 1993 as an open-end plan, currently has a corpus of Rs 2,600 crore. The scheme has an asset allocation limit of minimum 60 per cent in debt and maximum 40 per cent in equities and related instruments. The State Government has put in Rs 3 crore.
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