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It feels great when we receive gifts, however when we give back to others, it brings out the intrinsic best in us. Giving provides us an opportunity to look beyond ourselves and touch other lives for their betterment. It's that time of year when people from all walks of life join together in October to spread and celebrate the "Joy of giving" or "Daan Utsav". The concept has acquired acceptance and seemed to have encouraged bigger masses to break the bigger act of philanthropy into a simple act of making someone else happy. In fact it is taking a shape of festival where an individual decides the way he/she wants to give back to a needy one. More importantly, such acts of benevolence are spreading their wings in smaller cities, towns and rural areas. We have seen many stories coming up in recent times where individual or small groups such as an Autowalla giving 7000 free rides to needy ones in Bhubaneswar, 4 girls working to make the world wonderful for fifty underprivileged kids in Hyderabad, an individual working to light up Bengaluru's streets for 100 Women street vendors and many more and much more. All these stories reflect the change we want to make for the betterment of deprived or disadvantaged groups of our society.
Recognizing this noble objective, UTI initiated a major initiative on "Giving Back" in 2015 wherein it introduced UTI Canserve facility in partnership with St. Jude India Child Care Centres (St.Judes).
This was conceptualized on the backdrop that there is a genuine requirement to have a investment route that allows investors to do charity while investing. UTI Canserve precisely facilitates that through three of its schemes namely (UTI Mastershare Unit Scheme, UTI Balanced Fund and UTI Spread Fund). Here, investors (existing/new) can choose one of these schemes and give mandate to donate either dividend (50% or 100%) or specified amount (Min Rs. 1000/-) generated out of his/her investment. The donation will be triggered at certain periodicity (at the time dividend declaration under dividend payout option) or (twice in a single year in growth option) and credited back to St.Judes account. St.Judes will use this amount in providing housing facilities, nutritional support, transportation services, educational services and other support services to the cancer stuck children who are undergoing treatment in any one of their centres. There is a tax concession to the extent of 50% tothe investors under 80G of the Income Tax Act, 1961.
It has been a rewarding journey so far where close to thousand investors have chosen UTI Canserve's route to do the charity and bring smile on little one's face. The best part is that the investment will remain forever in investor's name and only the fruits can be shared with the needy ones. "Giving Back" is not a one off event and event like "Daan Utsav"/"Joy of Giving" certainly invokes spirit of "pass it on" repeatedly. The inner self in each of us should guide us to simple act of generosity and "Make It Matter" for others. So make this festive season a special one by joining UTI Canserve community and making a difference to the life of a needy child.
To summarize, will share a quote of Laura A. Andreessen "Giving is a universal opportunity. Regardless of your age, profession, religion, income bracket and background, you have the capacity to change"
Mutual fund investments are subject to market risks, read all scheme related document carefully.
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