On 22nd January 2001, India Post in partnership with IDBI-Principal, launched a scheme for distribution of mutual funds through post offices. A pilot project was started from the four cities of Delhi, Mumbai, Kolkatta and Patna.
From 15th June 2001 onwards, the scheme was extended to cover post offices in all major capital and other cities all across the country. From July 2001 onwards, the scheme was also extended to include distribution of Prudential ICICI and SBI Mutual Funds.
The forms of the last two organizations are currently distributed from 42 post offices at Bangalore, Chandigarh,
Chennai, Delhi and Mumbai.
You can also purchase ICICI Safety Bonds, RBI Govt Relief Bonds and IDBI Flexi Bonds through the Post Offices.
Easy steps for investing through the Post Office:
1. At each designated post office one counter has been earmarked (usually on a non-exclusive basis) to
receive the Mutual Fund applications.
2. An investor can approach the designated post office counters or the concerned postmaster for applic-
ation forms and literature on the tyoes of fund schemes available through the post office.
3. Thereafter he can hand the application forms duly filled along with requisite amount in the form of a
demand draft/cheque to the counter staff. No cash will be accepted.
4. The Postal Assistant at the counter checks the form to see that it is complete and is accompanied by
the payment. He will then stamp the attached receipt and return it to the investor
5. The counters accept the application forms from 1000 to 1500 hrs. only;
List of Post Offices distributing Mutual Funds and Bonds.