PM Modi Launches RBI Retail Direct Scheme
On Friday, Prime Minister Narendra Modi will announce customer-centric initiatives from the Reserve Bank of India (RBI). It remains the retail direct scheme and the integrated ombudsman scheme. He will launch the scheme through the video conference. In a statement, PM Modi said that the RBI Retail Direct Scheme was intended to increase access to government securities for retail investors. An RBI circular said that retail investors can open and maintain the Retail Direct Gilt Account (RDG Account) at no cost. Through a special online portal, you can open an account for this scheme.
This year, RBI stated that investors would be able to place bids in primary auctions. As well as they also use the NDS-OM, or Negotiated Dealing System-Order Matching Segment, for government securities trading. To address customer complaints against central bank-regulated entities, the Integrated Ombudsman Scheme aims at further improving customer grievance redress mechanisms.
Speaking at the launch of two customer centric initiatives of RBI. https://t.co/Xt4HGfz1Ut
— Narendra Modi (@narendramodi) November 12, 2021
Reserve Bank’s retails direct scheme will be the best opportunity for retail investors. It allows them to invest in government securities, sovereign bonds and etc. However, it would be the first scheme in India that retailers have a chance to make an investment in govt. securities.
According to the reports, the government security schemes offer low returns along with low risk as compared to equity or asset schemes.
Investments in government securities offer safe, guaranteed returns to investors as they are a type of financial investment instrument. It is the government’s responsibility to ensure that investors receive the promised returns when the investments mature.