India's leading stock exchange, National Stock Exchange of India Limited (NSE) is partnering with National Savings Institute (NSI), Department of Economic Affairs, Ministry of Finance, Government of India for conducting Awareness Programs for the Agents affiliated to NSI.
The primary distributors of the National Savings Schemes who operate through Post Offices and select banks across the nation will get lessons in the financial domain and savings concepts.
The initiative is expected to help them to take additional financial markets' products like Exchange Traded Funds (ETF) to the masses.
Today, about 100 distributors from 2 GPOs and 10 Head Post Offices in Delhi participated in the program. The objective of the awareness programme is to:
(i) Create awareness of financial planning and savings concepts, specifically government savings
(ii) Create awareness of capital market products among agents and thereby assisting in spreading knowledge to their clients
(iii) Explore opportunities to empanel agents for promoting suitable retail savings products
(iv) Contribute to the overall well-being of the economy through increased participation in the financial markets and savings products.
The first set of programs is expected to be over in the next 6 months. Ms Chitra Ramkrishna, MD & CEO, NSE said that "In our endeavour to ensure financial inclusions, such initiatives will help to create awareness about exchange traded products and their utilities. This, in turn, is expected to unlock savings for productive use of the nation."
Besides, programs with NSI, the Exchange intends to organise more than 1000 awareness programs across India in the current financial year.
Mr Deepak Verma, Joint Director, NSI, said, "NSI is partnering NSE to enlarge the prospects of financial inclusion. Such training programs will help to enhance the skills and product offerings of numerous primary distributers who are present across India".
NSI is connected to around 1.54 lakh Post Offices and 25000 of selected bank branches in the country.
Post training the primary distributers can enrol as Authorised Persons - for offering products like ETFs to their clients.
They can also act as an ARN Holder for offering NSE's NMF II (Online Mutual Fund) platform to retail clients. All such researched products will give them a wider bouquet which they can in turn offer to their clients.