UTI Mutual Fund, India's seventh largest asset manager, has remained without a chief executive officer for over a year as its shareholders are yet to give approval to the name proposed by the board. The fund’s shareholders — State Bank of India (SBI), Life Insurance Corporation of India(LIC), Punjab National Bank (PNB), Bank of Baroda(BoB) and T Rowe Price — have not responded to the board’s communication on the matter, said a person close to the development.
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