PM Modi Launches RBI Retail Direct Scheme
Under the RBI Retail Direct Scheme, which Prime Minister Narendra Modi announced on Friday, retail investors may now purchase and sell central government securities and state government bonds directly. He claims that this provides a saral aur surakshit (easy and safe) option for the middle class, small business owners, and elderly citizens to participate directly in the government securities market. All G-Secs have "guaranteed settlement," which provides small investors with "excellent returns and capital safety," he said, adding that it will broaden the investor base and contribute funds to the government for infrastructure construction. At rbiretaildirect.org.in, investors may open and manage their accounts. He also announced the inauguration of the Integrated Ombudsman Scheme, which would allow roughly 44 million loan accounts and 220 million deposit accounts to raise any grievances with the RBI online.