Reserve Bank of India, a new scheme for the retail investment in government securities has been declared.
Its officially presented by PM Narendra Modi and chief of the central bank Shaktikanta Das.
This scheme was called Reserve Bank of India Retail Direct.
It aims to speed up the investment by retail investors in gilts by enhancing the access and provided to the individual investors in a direct portal.
With the help of this scheme, an investor can easily invest in central government securities, sovereign gold bonds through a portal, treasury bills, and state development.
It will move India into the league few over the country that currently offers such a facility.
The 2nd advantage aims at sustaining the grievance redress mechanism for solving customer complaints against entities regulated by the RBI.
The scheme will focus on One ombudsman-one nation with their complaint lodge facility in one portal with email, address for the customer.
To make the objection redress mechanism simpler and much effective, this will be integrated into one centralised scheme.
Under this new scheme, customers could be able to place their complaints, give feedback, and submit their documents, tracking their status through a single email address.
Another facility is available in it, such that a toll-free number for providing all relevant information.
The question will come how to invest? It is easy, and every individual’s retail investor will have this facility to open and maintain the Retail Direct Gilt Account with the RBI.
After registration on the online portals will require filling an online form with a one-time password.
The portal shall be intimated further details through short messages service in mobile or email.
The RBI had given the statement, As a part of carrying on with efforts to enlarge retail participation in securities of the government and upgraded the ease access.
It has decided to deliver retail investors access online to the government securities market.
The complaints which are not fully covered under the ombudsman scheme will be continually addressed by the Protection Cells and Customer Education.
Hence, it is useful for asking why the investors should be investing in government bonds? When another way various opportunities for funds offers better returns.
The main aim is to provide transactions, nomination facility, balance statement, etc.