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FM puts small investors' money in MF for better returns
Published on Thu, Dec 13, 2007 at 23:03, Updated at Sat, Feb 02, 2008 in Money » Insurance section
Tags: Union Budget 2008, Investments , New Delhi
MINTING MONEY? The govt wants postal and rural life insurance schemes to bring better returns.
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New Delhi: In a move to help investors get better returns, the Government is putting Rs 10 thousand crores from the Postal Life Insurance and Rural Life Insurance's kitty into money managers like UTI assets and SBI mutual funds.
Finance Minister P Chidambaram said that the decision was taken by the Ministry of Post and Telegraph.
“It’s a decision of the Ministry of Post in order to invest these funds in a manner that you will get a better return on these funds,” he said.
Adding that this investment strategy is broadly patterned on the National Investment Fund’s, Chidamaram added, “They are entrusting this money to UTI and SBI, who will mange these fund for them and ensure a safe and adequate return for these funds.”
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Total Comments: 2
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How can such a significant decision be taken without assessing the possible pitfalls ? The main reason for people choosing
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Stock Market is simply a gambling Den and is a zero sum game.this is very very foolish.
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