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Post Offices Set To Sell MF Products

The Dept of Posts will start re-selling schemes after stopping in August

The occasion marking the celebration of the national Postal Week was taken to announce some good news for mutual fund investors by the Department of Posts.

The Department says that it will resume the sale of mutual fund schemes in selected branches after terminating the process in August.

The Department is presently in talks with market regulator Securities and Exchange Board of India (SEBI) to chalk out the distribution norms related to selling of mutual fund schemes. The process will be initiated as soon as the modalities are worked out, top officials said, according to Businessline.

The Department had suspended sale of fund products since August as there were some issues regarding payment of commissions offered by fund houses, saying they were no longer remunerative in view of SEBI’s guideline regarding the ban on entry loads.