The Department of Posts has signed agreements with financial institutions including many other organizations to sell their products through Post Offices in the country. List of products sold at national level is as given below.
Sl.No. Name of Company/Financial Institution Description of product/service
1 Western Union Money Transfer International : money transfer to India
2 UTI Mutual Funds : Sale of UTI Mutual Funds through post offices
3 Pension Fund Regulatory & Development Authority : Point of Presence for National Pension Scheme Accounts
4 M/s Nirmal Packaging Systems : Sale of Corrugated boxes and Paper board envelops.
5 M/s Narsingh Dass & Co. : Sale of Tyvek Envelops
6 Ministry of Railways Booking/cancellation of Railway Reservation Tickets : under PRS Scheme
7 CBOP( Now merged with HDFC Bank) : Sale/Purchase of foreign exchange
8 Reliance Money Infrastructure Limited : Sale of Gold Coins
9 BSNL : Sale of recharge coupons Sancharnet Cards etc.
10. India Post SBI tie-up Department : sells assets and liability products of SBI through identified postal outlets.
11. NABARD-SHG linkage scheme : India Post has entered into a tie-up with NABARD to disburse micro credit to women self help groups (SHGs) on pilot basis.
The Central and State Governments take various measures from time to time to promote and popularize small saving schemes through print and electronic media as well as holding seminars, meetings and providing training to various agencies involved in mobilizing deposits under the schemes. As part of this ongoing exercise, Government has taken following steps to make the small savings schemes more attractive and investor friendly:-
-Introduction of Bonus at the rate of 5% on the deposits made under Post Office Monthly Income Account (POMIA) Scheme on or after 8th December, 2007 upon the maturity of the deposit.
-The benefit of Section 80C of the Income Tax Act, 1961 has been extended to the investments made under 5-Year Post Office Time Deposits Account and Senior Citizens Savings Scheme, with effect from 01.04.2007.
-With effect from 1.8.2007, the maximum deposit ceilings of Rs.3.00 lakh and Rs.6.00 lakh under the Post Office Monthly Income Account (POMIA) Scheme has been raised to Rs.4.50 lakh and Rs.9.00 lakh in respect of single and joint accounts respectively.
The penalty on pre-mature withdrawal of deposits under the Post Office Monthly Income Account (POMIA) scheme has been rationalized from 3.5% to 2% on withdrawal on or before expiry of three years and 1% on withdrawal after expiry of three years.
All categories of pensioners have been allowed to open and maintain ‘Pension Account’ under Post Office Savings Account Rules, with effect from 11th July, 2007.
The restriction on opening of more than one account during a calendar month under the Senior Citizens Savings Scheme has been removed with effect from 24th May, 2007.
Opening of “Zero deposit/Zero Balance” accounts for workers employed under NREG Act, under Post Office Savings Account Rules, with effect from 26th August 2008.
Opening of “Zero deposit/Zero Balance” accounts for Old Age Pensioner Account under Indira Gandhi Old Age Pension Scheme, Widows Pensioner Account under Indira Gandhi National Widow Pension Scheme and Disabled Pensioner Account under Indira Gandhi National Disabled Pension Scheme with effect from 13th October 2009.
National Savings Institute, a subordinate organization under the Department of Economic Affairs (Budget Division) also maintains its web site i.e nsiindia.gov.in in collaboration with National Informatics Centre to facilitate interface with the public through wider dissemination of information on small savings and on-line registration and settlement of investor’s grievances.
This information was given in written reply to a question in Lok Sabha today by Shri Gurudas Kamat, the Minister of Communications and Information Technology.
Reliance Securities launches Regular Stock Purchase Plan
ReplyDelete- A systematic way to invest in Equity Markets at a regular interval
- Available to all Customers of Reliance Securities
- Option to invest in Stocks as well as ETF's
Reliance Securities, the Equity Broking arm of Reliance Capital announced yet another launch of their new Product - Regular Stock Purchase Plan (RSP Plan), a plan wherein retail investors get an opportunity to invest in their favourite stocks and ETF's of choice in a systematic manner and over sustained periods. The said period could be Daily, Weekly or monthly stretched over a year and more.
Regular Stock Purchase Plan offers a SIP (Systematic Investment Plan) like option to customers to invest in the Equity Market. This helps in accumulating wealth by making small, regular investments over a period of time. RSP plan allows you to buy scrips for a regular interval over a period for specified amounts or defined quantities.
"Basically, one cannot time the markets… We can never predict the market movements precisely and decide when would be the right time to invest. Buying regularly helps average out the ups and downs of the market. Invest a small amount regularly in any fundamentally good company and 'accumulate wealth' along the way. Through RSP plan, customers get an option to invest at a regular interval from the plethora of scrips that are available in the scrip basket that is offered by Reliance Securities",
RSP plans offers two options for Equity Investments, amount-based and quantity-based. Under the amount based RSP plan customers can invest a fixed amount in the desired stocks at the set frequency, and under the quantity based a fixed quantity at the set frequency is purchase.
"The preliminary research on the product has been very promising. We have got 5,000 enrolments in the Ist week itself and plan to take this number to 10,000 by the end of the first month itself"
Reliance Securities Limited is the Equity Broking arm of Reliance Capital and part of the Reliance Group. It endeavors to change the way investors transact in equity, Derivatives and Currency Derivatives market and avails services. It offers a secured online share-trading platform and provides investment activities in secure, cost effective and convenient manner. To enable wider participation, it also provides the convenience of trading offline through variety of means, including Call & Trade, Branch dealing Desk and its network of affiliates.