The National Stock Exchange (NSE) and the head post office of Patiala have started a financial literacy initiative in Patiala, Punjab. The alliance is part of a larger partnership with India Post to take the equity cult to the small towns and cities of India. These include Midnapore, Bhagalpur, Pushkar, Ajmer, Hardwar, Muzzafarnagar, Bilaspur, Vidisha and Bharuch.
NSE is putting up large sized screens at more than 50 post offices in the country, including the one at Patiala. The messages on the screens are aimed to increase awareness among people on safe investing and investor friendly products.
Joint Managing Director of NSE, Chitra Ramkrishna said, “We have constantly been trying to reach out to the tier-II and tier-III cities to bring more people into the formal financial system.’’
The screen will carry information on the prices of Nifty stocks and NSE indices. It will also convey information on products like gold exchange traded funds (ETFs), a cost-effective and transparent option to buy gold and Nifty ETFs, 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.
NSE has a tie up with 95 colleges in India 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 courses at the Punjabi University in July 2011.