New Delhi. To provide a new opportunity for small investors to invest in government securities, Prime Minister Narendra Modi will launch the RBI Retail Direct Scheme on Friday. Under this scheme, small investors will be able to easily open and maintain their government securities account online at no cost with the Reserve Bank of India. RBI has said in a statement that with the RBI Retail Direct scheme, it will now be easier for small investors to buy and sell government securities on the digital platform.
The RBI Retail Direct scheme was announced in February this year. The goal is to provide retail investors with easy access to the government securities market, both primary and secondary, through an online platform. Retail investors can also open their Guild Securities Account (Retail Direct) with RBI.
RBI Governor Shaktikanta Das, announcing the plan in February, called it a significant structural reform. In July, the central bank said investors could bid for government securities at the primary auction, as well as on the central bank’s trading platform.
The Retail Direct Gilt account for this scheme can be opened through the online portal. The launch is seen as a move to open up the Indian sovereign bond market to individual buyers as the government seeks to increase the investor base.
RBI said in a statement that Prime Minister Narendra Modi will also launch the Reserve Bank’s Integrated Ombudsman Scheme on Friday, November 12. You will become aware of the concept of One Nation One Lokpal, which also with a portal, an email and an address. Customers will be able to register complaints, submit documents, track status, and provide feedback, all in one portal. The Integrated Ombudsman Scheme is an integrated scheme for complaints against RBI regulated entities. The RBI will also issue a toll-free number in multiple languages to help file complaints and information on redress.
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