Discussion
Which one of the following is the main objective of unit trust of India?
Answer: B
Correct answer: To mobilize the saving of low and high income groups
The Unit Trust of India was established in 1964 to mobilise the savings of small investors and channel them into the capital market - bringing corporate securities within reach of people who could not sensibly buy and hold a diversified portfolio themselves.
Its Unit Scheme 1964 was designed for exactly that reach, so the fund drew from savers across the income range rather than being confined to any one group. Restricting the answer to corporates or to high income groups would miss the point of a unit trust, which is to pool many small subscriptions.
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