|
Top News
|
INDIA POST AND SBI MUTUAL FUND ENTER INTO STRATEGIC TIE-UP
New Delhi ~ July 9, 2001
India Post and State Bank of India Mutual Fund (SBIMF) have entered into a strategic partnership to enable investors to make their investments in any of SBIMF's schemes through the post offices. The Chief Post Master General (CPMG) Delhi Shri S. Chadha launched the "Partnership between India Post and SBI Mutual Fund" at a function here today. The Deputy General Manager SBI Shri A.C. Verma and other senior officials were present on
the occasion.
As per the tie-up the SBIMF will be working closely with India Post to train their counter staff about various schemes their objectives and their suitability to different investor profiles. Investors can seek the advice of the designated staff in the Post Offices to identify the scheme suitably for their needs and invest in the same across the counter. This partnership will enable a large number of investors to conveniently invest with SBIMF
while India Post will now be able to increase the depth and range of its offerings to its customers. It will also benefit the customers in having a wide range of financial services being offered under a single roof at the post offices. The facility will be initially available at designated India Post Offices in Mumbai, Delhi, Bangalore, Chennai and Chandigarh. In Delhi to start with this facility will be available at the Parliament Street Head Office.
The India Post-SBI Mutual Fund alliance coming in the wake of the partnership with IDBI-Principal to market mutual funds is symbolic of the significant changes taking place within the Department of Posts to diversify into the Financial Services sector. India Post had
just a few months earlier entered into a partnership with IDBI Principal for distribution of their mutual fund. Today IDBI Principal mutual funds are available through Post Offices on a countrywide basis. Now with the addition of SBI Mutual Funds customers of the Post Office can pick and choose their investment portfolios.
|
