Banks told to use UTI expertise

NEW DELHI, June 17: A leading industry chamber has called upon commercial banks to utilise the Unit Trust of India8217;s expertise to invest in shares to lift the sagging stock markets.

Identifying lack of expertise as the main reason behind banks8217; reluctance to invest in the market, Ficci said quot;investment by banks at this critical juncture would be significant to support capital markets.quot; If banks commit at least five per cent of their incremental deposits for investing in shares, a whopping Rs 5,000 crore would be pumped into the markets, the chamber pointed out.