Mutual Funds

On 24th September,2009 in Mumbai, India Post was felicitated with UTI-CNBC special commendation award in the form of a trophy for effectively utilizing its network to promote financial inclusion in smaller places.

Distribution Of Mutual Funds and Securities:

The Post Office has traditionally been a distributor of financial services,from money orders to banking services.The Post Office Saving Bank is the lergest retail bank in the ocuntry, operating from over 1,50,000 branches.With an objective to leverage the strength of the postal network and skills Department of Posts had started retailing mutual funds and bonds.

On 22nd January 2001, India Post in partnership with IDBI-Principal, launched a scheme for distribution of mutual funds through post offices.A pilot project was started from the four cities of Delhi, Mumbai, Kolkata and patna.Thereafter from 15 th June 2001 onwards, the scheme was extended to cover post offices in all major capitals and other cities all across the country.At present select schemes of Principal,SBI,UTI,Franklin Templeton and Reliance Mutual Fund are retailed through designated Post Office in the country.

Easy Steps For Investing through the Post office:

1. At each designated Post Office one counter ( AMFI qualified personnel ) has been earmarked (usually on a non exclusive basis ) to recieve the Mutual Fund application.
2. An investor can approach the designated post office counters or the concerned postmaster for for application forms and literature on the types of fund schemes available through the post office.
3. Thereafter he can hand the application forms dully filled along with requisite amount in the form of demand draft/cheque to the counter staff.No cash will be accepted.
4. The counters accept the application forms as per the cut off time prescribed by the AMCs for accepting the application for their schemes in the perticular post office.