The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

The government of India must take immediate steps to protect the intersts of millions of small investors who have put in their savings in the UTI’s US-64 scheme. The decision announced by the UTI suspending the sale and repurchasing of US-64 and the report of the financial difficulties the fund has run into, makes it imperative that the government of India intervene to restore confidence in the scheme.

A thorough probe is required to see how the UTI has conducted its affairs with regard to US 64 in the stock market and its failure to rectify its earlier detected wrong approach with regard to speculative investments.