New Delhi, Feb 10 The National Stock Exchange of India (NSE) has signed a memorandum of understanding (MoU) with the Department of Posts to enable distribution of mutual fund products through India Post’s extensive postal network, it was announced on Tuesday.
Under the three‑year agreement, selected employees of the Department of Posts will be identified, trained, and onboarded as certified mutual fund distributors, according to an official statement.
These officials will offer mutual fund products and related investor services through NSE’s mutual fund platform, subject to mandatory certifications and regulatory compliance, including NISM certification and EUIN registration.
The Department of Posts, using its vast network of over 1.64 lakh post offices across the country, will work with NSE, which has a strong online system for handling mutual fund transactions, the statement from Ministry of Communications said.
This collaboration aims to significantly enhance last-mile access to mutual fund products, particularly in rural and semi-urban areas. The partnership aims for a transparent, compliant, and investor-friendly distribution ecosystem that reaches citizens across the length and breadth of the country, said Sriram Krishnan, Chief Business Development Officer, NSE.
The partnership aims to deepen financial inclusion by "combining the trust, accessibility, and wide outreach of India Post with NSE’s market infrastructure and technological expertise." The initiative is expected to promote investor awareness, transparency, and participation in capital market-linked financial products, it added.
"This partnership with NSE will enable India Post to offer modern investment solutions to its customers while maintaining the highest standards of investor protection, transparency, and regulatory compliance,” said Manisha Bansal Badal, General Manager (CCS and RB), Department of Posts.
The collaboration will be implemented in a phased manner, beginning with a pilot covering selected locations.
The government had earlier announced plans for India Posts to evolve into a technology-driven logistics provider and achieve 80 per cent private-sector contribution in business revenues with Rs 25,000 crore in parcel business revenue over the next five years.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor