New Delhi, February 10 (IANS). The National Stock Exchange (NSE) on Tuesday signed a Memorandum of Understanding (MoU) with the Postal Department to take mutual funds to every corner of the country.
The objective of this MoU is to deliver mutual funds in the country using the wide network of post offices.
The official statement said that under this agreement, selected employees of the Postal Department will be included as certified mutual fund distributors and they will be given training.
These employees will provide mutual fund products and related investor services through the mutual fund platform of NSE, subject to mandatory certification and regulatory compliance, including NISM certification and EUIN registration.
A statement issued by the Ministry of Communications said that the Department of Posts, using its vast network of over 1.64 lakh post offices spread across the country, will work closely with the NSE, which has a robust online system to handle mutual fund transactions.
The collaboration aims to increase the last-mile reach of mutual fund products, especially in rural and semi-urban areas. Sriram Krishnan, Chief Business Development Officer, NSE, said the partnership aims to establish a transparent, compliant and investor-friendly delivery system that reaches citizens in every corner of the country.
The partnership aims to further strengthen financial inclusion by combining the trust, accessibility and broad reach of India Post with the market infrastructure and technical expertise of NSE. This initiative is expected to promote investor awareness, transparency and participation in capital market related financial products.
Manisha Bansal Badal, General Manager (CCS&RB), Department of Posts, said, “This partnership with NSE will enable India Post to provide modern investment solutions to its customers, while maintaining the highest standards of investor protection, transparency and regulatory compliance.”
This collaboration will be implemented in a phased manner, starting with pilot projects in selected locations.
–IANS
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