New Delhi, Dec 12 (IANS) The Bombay Stock Exchange (BSE) on Friday signed a memorandum of understanding (MoU) with the Department of Posts to enable distribution of mutual fund products through India Post’s extensive postal network.
Under the three‑year agreement, selected employees and agents of the Department of Posts will be trained and onboarded as certified mutual fund distributors to offer products and investor services via the BSE's StAR Mutual Fund platform, the statement said.
The StAR MF platform handles more than 85 per cent of exchange‑based mutual fund transactions and records over 7 crore transactions monthly — to extend investor access into rural and semi‑urban areas.
The Department of Posts, with over 1.64 lakh post offices across the country, can enable last-mile access, investor education, and trust-driven mutual fund distribution nationwide.
This strategic partnership aims to deepen financial inclusion by leveraging India Post’s physical reach, particularly in rural and semi-urban areas, and BSE’s StAR MF platform, India’s largest online mutual fund distribution ecosystem, the statement said.
"We extend our sincere gratitude to the Government of India for their vision in reimagining the role of India Post as a catalyst for inclusive growth," BSE MD &CEO Sundararaman Ramamurthy said, adding that the collaboration aims to democratise access to financial products and empower millions with investment opportunities and financial literacy.
Department of Posts' GM, CCS & RB, Manisha Bansal Badal, said the vision aligns with the BSE’s vision of nurturing a professional, transparent, and investor-friendly mutual fund ecosystem in India.
"India Post has always been a trusted institution for the common man, offering a wide range of savings and financial services," she said.
This initiative is expected to accelerate mutual fund penetration in Tier-2 and Tier-3 towns, strengthen investor confidence, and contribute to India’s vision of a financially empowered society.
The government had earlier announced plans for India Post to evolve into a technology-driven logistics provider and achieve 80 per cent private-sector contribution in business revenues with Rs 25,000 crore in parcel business revenue over the next five years.
--IANS
aar/vd
