COIMBATORE: The National Stock Exchange (NSE) has decided to spread more awareness in the state in a bid to increase investments of the retail investors and MSMEs in the state in various companies listed in the NSE.
Addressing the media, Chief Business Development Officer of NSE Sriram Krishnan, a native of Chennai, said so far the exchange has conducted 20,000 awareness programmes related to the investment in various companies listed in the NSE that could fetch returns more than the fixed deposit interest rates throughout the country. He said similar programmes will be carried out in Tamil Nadu, as the state is lagging behind in investment in NSE.
"While Maharashtra is in top in the high (registered) investors list with 1.97 crore and UP is second with 1.44 crore (as per December 31), Gujarat with 1.07 crore and West Bengal with 0.73 lakh are in third and fourth positions respectively. Tamil Nadu is in fifth position with 0.69 lakh investors in NSE," pointed out Sriram Krishnan.
He urged municipal corporations to come forward and raise funds to complete the development projects. "Instead of waiting for the government nod for getting funds, the corporations can raise funds through listing bonds through NSE, and use them for the development projects as the people are ready to contribute. Currently, Chennai, Coimbatore, and Tirupur corporations have raised funds," said Sriram Krishnan.
He also pointed out the Indore municipal corporation is the first corporation in the country that has listed in bonds for developing solar power projects.
"We are also witnessing more corporations in Surat, Nasik, etc showing interest in listing bonds. In municipal corporation bonds alone, a total of 2265.35 crore has been issued to various corporations, including three corporations in Tamil Nadu in NSE, and the investors in these bonds will get a maximum of 9.55% interest rate and a minimum of 7.65% interest for their investment when the bonds attain maturity period," Sriram Krishnan added.