August 23, 2012

Press Release No. 1

NSE launches financial literacy initiative 'Jagruti' in Haridwar, in partnership with India Post

India’s leading stock exchange, the National Stock exchange (NSE) has partnered with India Post of the Government of India, to start a financial literacy initiative at fifty post offices in the country. The first such initiative in Uttarakhand was kicked off on the 23^rd of August, from the head post office at Haridwar.

The alliance between the two leading institutions, NSE and India Post, involves setting up a large sized screen at the head post office on the Upper road, which is very close to the city’s landmark, the har ki pauri or the God’s steps. The post office is in a crowded market place and has very high footfalls. The screen at the post office will keep flashing data on NSE’s benchmark index, Nifty 50, data on stocks and other indices, advice on investing wisely as well as information on products of India Post.

Hardwar is seen as an important investment destination and the Uttarakhand government has put a lot of focus on building industrial infrastructure and encouraging industries in the city. As a result many key automobile, engineering and FMCG companies have set up here, giving a boost to economic development. Tourism is also a major revenue earner for the people of Haridwar. NSE’s financial literacy campaign at the post office is an effort to reach out to the residents of Hardwar as well as the millions of pilgrims who throng the city at various times during the year.

Joint Managing Director of NSE, Ms. Chitra Ramkrishna said, “India Post has a very large reach, through which we aim to increase financial literacy in the tier two and tier three cities of India. We hope this educational drive, “Jagruti” will help the people of Hardwar, to learn more about finance, so that they can grow their investments.’’

The screen at the Haridwar post office will carry information on the do’s and don’ts of trading, to encourage investors to trade safely. For instance, the screen will flash messages like: ‘don’t share your trading password with anyone’, ‘it is not mandatory to give a power of attorney to your broker’, ‘don’t submit an incomplete KYC form’ and insist on a contract note for all the trades executed in your name and so on. The screen will also convey information on products for retail investors like Gold exchange traded funds and Nifty exchange traded funds, cost effective and transparent options to invest in gold and NSE’s benchmark index, Nifty 50. An investor can invest in very small amounts of just around Rs. 500 to buy one unit of Nifty.

It will also showcase 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.

The alliance with India Post comes after a series of steps by NSE to increase financial literacy. NSE has a tie up with more than 90 colleges in different parts of the country, to conduct short duration courses on the capital markets called the NSE Certified Capital Market Professional or the NCCMP.

The exchange has also tied up with three prominent universities for MBA and BBA (Bachelors in Business Administration) courses, including Punjabi university in Patiala, Guru Gobind Singh Indraprastha University at Delhi and the Maharishi Dayanand University in Rohtak. In another recent partnership, NSE has joined hands with IIM Shillong, to start a two year post graduate course in financial markets, the first to be started by an IIM.

Press Release No. 2

Market-wide Position Limit in ALOKTEXT, HDIL & MTNL

The derivative contracts in the underlying ALOKTEXT, HDIL & MTNL have crossed 95% of the market-wide position limit on August 23, 2012. It is hereby informed that all clients/ members shall trade in derivative contracts of ALOKTEXT, HDIL & MTNL by offsetting their existing positions till the open interest comes down to 80% of the market wide position limit.