May 05, 2024 02:04 (IST)
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NSE to organise 50 Investor Awareness programmes in WB in FY'16
Kolkata, Sept 21 (IBNS): The National Stock Exchange (NSE), has organized extensive investor awareness programmes (IAPs) in West Bengal in the financial year 2015-16, to help people learn about the basics of stock market, financial planning and safe investing and to encourage them to participate in the country's capital market.
In the current financial year, till now, it has organised 30 IAPs covering 9 districts in the state, spanning Hooghly, Howrah, Murshidabad, Midnapur, Nadia, Purulia and Siliguri, among others.
It plans to organise another 20 such IAPs in the coming months.
Since inception, NSE has made rigorous effort to reach out to people in various cities and empower them with information on market products, benefits of investing and how to invest safely.
Ravi Varanasi, Chief- Business Development, NSE said, "We have constantly reached out beyond metro cities, with an aim to bring more people into the formal financial system. Growth in the financial sector will throw up multi-dimensional opportunities in the coming years. Our attempts will also ensure faster financial inclusions.’’
In the last financial year, FY 2014-2015, NSE spread awareness in all 13 States / Union Territories (UT) covering about 135 districts in eastern region of India reaching out to more than 20,000 participants including about 8000 college students.
This included major states like West Bengal, Odhisa, Jharkhand and Bihar. The seven sister states of North east were also covered by these programs.
The programs were also conducted in the island UT of Andaman and Nicobar, and the special states like Sikkim.
Among the 135 districts, distant districts of Odisha (Kalahandi, Bolangir & Koraput), Bihar (Arwal & Jehanabad), Jharkand (Giridi, Ramgarh & Jamtara), Assam (Hailakandi, Goalpara, Morigaon, Durrang, Baksa & Chirrang), Tripura (Gomati, Khowai, Sepaijila, Dhalai&Unakati), Meghalaya (Jawai & RiBhoi) and districts of Mizoram, Manipur, Nagaland and Arunachal Pradesh, were covered by NSE officials for spreading financial literacy among general masses.
Officials of Securities Exchange Board of India graced the event and addressed the gathering in several of these programs.
Some of these programs were also addressed by the authorities from local administration, local self-help organization among others.
During these programmes, investors were advised on the steps they should take, to ensure that their interests are protected.
They were given guidance on how to trade cautiously, not to get misled by market rumours and invest according to a wise investment plan. Investors were also educated on the precautions they should take before, during and after trading.
These included a discussion on checking contract notes issued by brokers to investors, to verify whether only authorized trades have been executed by a SEBI registered broker.
Investors were also given advice on not getting lured by promises of exceptionally high returns and on the need to check the statement of accounts, to ensure that all transactions are as per the client’s advice and consent.
To ensure investor protection, they were advised on the mandatory and voluntary documents that should be executed between the investor and the member broker, and on the need for investors to see the risk disclosure documents, if they are first time investors, for safe investing.
Investors were also advised that giving a power of attorney to the broker is voluntary and not mandatory. Different grievance redressal mechanisms were also discussed with investors, so that they can get their complaints resolved at an early stage.
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