Managed by the Pension Fund Regulatory and Development Authority (PFRDA), the National Pension System is a voluntary and defined retirement savings scheme that offers Tier-I and Tier-II investment options for post-retirement. It is an initiative by the Government of India aimed at providing retirement support to Indian citizens from organised and unorganised sectors, along with tax benefits and easy withdrawal.
By this system, reasonable contributions made by the employee over the course of his/her career accumulates until retirement. Employees also have the option of opting out of the NPS scheme before retirement or choosing superannuation. However, NPS ensures that a good portion of the funds are used for retirement benefits in any case.
There are two investment options under NPS and a fund manager creates a portfolio based on the choice:Enrollment and contributions towards the NPS need to be timely and consistent so as to gain maximum profitability upon retirement. Eureka Stock and Share Broking Services Ltd. knows the process inside and out and can assist with all formalities, asset allocation, and fund management, based on your choice of investment.
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Sales of Mutual Fund Products, FD and Insurance Products.
A Commerce graduate from St Xavier’s College, Kolkata, with a capital market exposure of 40 years, Ramesh Kumar Somani commands great respect for his administrative skills and leadership capabilities. He has been instrumental in transcending and transforming the group into a well-diversified financial services company.
Responsible for the day-to-day operations in relation to risk management, surveillance, and internal control, Rajesh Kumar Somani is actively involved in broadening the Branch and Sub Broker network. Helping clients to sail smoothly through the market volatility is his forte and he assumes a vital role in building and developing strong customer relationships.
A Commerce graduate from St Xavier’s College, Kolkata, Chartered Accountant, Cost Accountant and DBF (ICFAI) with over 24 years of experience, Rakesh Somani provides dynamism and professionalism to the whole group. He was the President of Associations of National Exchanges Members of India (ANMI), Chairman of Asian Forum for Investor Education (AFIE), and member of the Trading Advisory Committee of Bombay Stock Exchange (BSE). He spearheads the DP vertical of the Company and is responsible for Regulatory Compliances and Controlling Finance. He oversees Institutional Business and is responsible for the development and growth of Institutional Clients.
He is a Rank Holder Company Secretary, Chartered Accountant, and commerce graduate from St. Xaviers College, Kolkata. He is the Executive Director of Eureka Stock & Share Broking Services Ltd, with over 12 years of experience in Capital Markets, Bond Markets, and Distribution of various financial products such as Mutual Funds, NPS, Bonds, PMS, Insurance, etc.
He started his career as a Tax Consultant in KPMG, Hyderabad, and thereafter joined Eureka as a Business Analyst. Now he is spearheading Eureka group’s efforts to expand its operations in the Financial Products domain.