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Cong demands clarification from Sinha on US-64

The Congress on Tuesday demanded that Finance Minister Yashwant Sinha should come out clearly on whether he was told in advance by Unit Trust of India about its decision to suspend sale and repurchase of US-64 units.

Party spokesman S Jaipal Reddy told reporters that this has become necessary following the statement by the sacked UTI chief P S Subramanyam that he had apprised the government on May 18 and June 30 this year about the situation being faced by the Trust in regard to US-64.

Reddy said Subramanyam, in the application seeking bail, had claimed that he met Sinha on July 2 during which the FM advised him to go ahead with the scheduled meeting of the Board of Trustees later that day and take such a decision.

"Finance minister never took the country into confidence on this interaction with the UTI chairman. On the contrary, he made every possible verbal effort to feign ignorance about this interaction", Reddy said.

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