NSE and NSI tie up for training programmes in financial planning
6 Aug 2015 6:11 AM IST
Leading stock exchange NSE on Wednesday said it has partnered with government's National Savings Institute to conduct awareness programmes related to financial planning and savings.
NSI comes under <g data-gr-id="51">department</g> of economic affairs, the Ministry of Finance. "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 National Stock Exchange said in a statement.
"The initiative is expected to help them to take additional financial markets' products like exchange traded funds (ETF) to the masses," it added.
About 100 distributors from two government post offices and 10 head post offices in Delhi participated in the programme on Wednesday.
According to NSE, the objective of the awareness programme include creating awareness of financial planning and savings concepts, specifically government savings as well as of capital market products among agents, thereby assisting in spreading knowledge to their clients. The first set of programmes is expected to be over in the next six months.
<g data-gr-id="46">Post training</g>, the primary distributors 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," NSE said.
"In our endeavour to ensure financial inclusions, such initiatives will help to create awareness about exchange traded products and their utilities," NSE managing director and CEO Chitra Ramkrishna said.
Such training <g data-gr-id="52">programs</g> will help to enhance the skills and product offerings of numerous primary
distributors who are present across India, according to NSI joint director Deepak Verma.
NSI is connected to around 1.54 lakh post offices and 25,000 of selected bank branches in the country. <g data-gr-id="48">Beside</g> programmes with NSI, the exchange intends to organise more than 1,000 awareness programmes across India in the current financial year.
Funds mop-up via debt <g data-gr-id="91">placements</g> dips 23% in July
Indian companies raised close to Rs 28,000 crore in July through <g data-gr-id="108">private</g> placement of corporate bonds to meet business needs, a slump of 23 <g data-gr-id="104">per cent</g> from the preceding month.
Market analysts said a positive outlook for equities and availability of capital have helped companies to opt for this window to mop up fresh funds instead of debt route.
According to the data available with Securities and Exchange Board of India (Sebi), companies garnered a total of Rs 27,920 from debt on a private placement basis in July, as compared to Rs 36,125 crore raised in the preceding month.
Firms had raked in Rs 20,692 crore in May and another Rs 84,807 crore in April. With this, the total fund mobilisation through this route has reached Rs 1.7 lakh crore in first four months (April-July)of the current financial year. In comparison, firms had garnered over Rs 4 lakh crore in the entire last fiscal year (2014-15).
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