National Stock Exchange of India Limited (Wednesday June 13, 2012)
June 13, 2012 :The city of Patiala in Punjab is as famous for its jutti or foot wear and the Patiala turban, as it is for its growth into a major industrial centre. To help the enterprising people of Patiala to grow their businesses and investments, the National Stock Exchange (NSE) has started a financial literacy initiative, in partnership with the head post office of Patiala. The alliance is part of a larger partnership with India Post of the Government of India, to take the equity cult to the small towns and cities of India.
As a part of the agreement, NSE is putting up large sized screens at more than 50 post offices in the country, including the one at Patiala. The screens will carry messages from both NSE and India Post, to increase awareness in people on safe investing and investor friendly products, to empower them financially.
The screen at the Patiala head post office, on the bustling Mall Road was inaugurated by senior officials from NSE and India post, on the 13th of June. The partnership with India Post was kick started from Rohtak recently.
Joint Managing Director of NSE, Ms. Chitra Ramkrishna said, “We have constantly been trying to reach out to the tier two and tier three cities, to bring more people into the formal financial system. Patiala is an important industrial hub and is home to many reputed educational institutions. We hope this financial literacy initiative will help people to realize their dreams’’.
The screen will carry information on the prices of Nifty stocks and different NSE indices. It will also convey information on products like Gold exchange traded funds, a cost effective and transparent option to buy gold and Nifty exchange traded funds, apart from giving advice on the do’s and don’ts of trading.
It will also carry information on products of India Post, like Online money transfers, Electronic money orders, Speed post, Savings certificates, Postal life insurance and Logistics solutions for Corporates.
This initiative is being jointly implemented by NSE and India Post in a large number of small towns and cities across the length and breadth of India. They include Midnapore, Bhagalpur, Pushkar, Ajmer, Hardwar, Muzzafarnagar, Bilaspur, Vidisha and Bharuch.
The alliance with India Post comes after a series of steps by NSE to increase financial literacy. NSE has a tie up with 95 colleges in different parts of the country, to conduct short duration courses on the capital markets.
More than two lakh school students have learnt the basics of money management and financial markets, through courses run by NSE.
NSE also has a tie up with three prominent universities for MBA and BBA (Bachelors in Business Administration) courses, in financial markets. These include the Punjabi university in Patiala, Guru Gobind Singh Indraprastha University at Delhi and the Maharshi Dayanand University in Rohtak. The first batch of students started the MBA and BBA courses at the Punjabi university in July 2011.
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