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July 6, 2001 		Feedback  
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SBI will provide liquidity against US-64 units

Despite the freeze on Unit Trust of India's flagship scheme US-64, State Bank of India will continue to advance loans against the face value of the units, the bank announced on Friday.

There has been panic among the 20 million investors of US-64, particularly the small investors, following the July 2 announcement of UTI to freeze the sale and repurchase of the US-64 units for six months.

Individuals can avail a loan of upto 60 per cent of the face value of the units from the bank branches, an SBI release said.

The maximum loan amount could even go upto Rs 2 million for units in demat form, it said.

The bank has not made the terms of financing more stringent and loans would be given on the same terms and conditions as applicable to financing against shares and debentures, SBI added.

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The UTI Crisis

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