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RBI's 'Retail Direct Scheme' receives healthy response

The scheme was launched by Prime Minister Narendra Modi on Friday

Topics
Reserve Bank of India | Government securities

IANS  |  Mumbai 

RBI, Reserve Bank of India
Photo: Shutterstock

has received a healthy response for its customer centric initiative of 'Retail Direct Scheme'.

The scheme provides a new medium of investment in

In a tweet, RBI on Saturday said: "Encouraging response to RBI Retail Direct Scheme; 12,000+ registrations as of 2.30 pm on November 13, 2021. #RBIRetailDirect #RBItoday."

The scheme was launched by Prime Minister Narendra Modi on Friday.

At the launch event, Prime Minister Modi said the 'Retail Direct Scheme' has given small investors in the country a simple and safe medium of investment in

Till now, small investors found the investment exercise in G-sec as a cumbersome process.

Furthermore, he pointed out that 'Retail Direct Scheme' will bring in the middle class, employees, small businessmen and senior citizens with their small savings directly and securely in

As government securities have the provision of guaranteed settlement, this gives assurance of safety to the small investor, he said.

The scheme has been touted as a significant milestone in the development of the G-sec market.

It is expected to bring in G-secs within easy reach of the common man by simplifying the process of investment.

The scheme will provide online access to the government securities market - both primary and secondary - along with the facility to open their gilt securities account ('Retail Direct') with the RBI.

--IANS

rv/sks

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sat, November 13 2021. 18:55 IST
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