THE Deepak Parekh committee report on US-64 brings into public domain what has so far been known only to a few, though widely suspected by many: the precarious financial position of the Unit Trust of India (UTI), particularly its flagship scheme, US-64. The broad contours of the report have been known since March. Consequently, the full report, which was made public by the UTI this week, along with a release detailing the steps taken by it to implement the committee's recommendations, does not contain many surprises. Instead the wealth of detail merely reinforces the critical need for a complete overhaul of the functioning of the UTI.