On Monday, the Reserve Bank of India (RBI) introduced the ‘RBI Retail Direct’ scheme to enable retail investment into government securities.
As per the RBI statement, the scheme is expected to help individuals or retail investors open and keep the ‘Retail Direct Gilt Account’ (RDG Account) with the central bank, will be initiated in a later date.
RDG Account can be initiated through an online portal offered for the intent of the scheme.
The portal will also offer the registered users services to access the primary issuance of the government securities and gain access to NDS-OM.
In February, ‘the RBI Retail Direct’ facility was announced as part of the initiative to boost retail involvement in government securities and improve ease of access by retail investors through online access to the government securities market. It also aims to offer the capability to begin their gilt securities account with the RBI.
Government securities or bonds, also known as G-Secs are debt instruments released by the Reserve Bank of India, on behalf of the state or Centre governments.
Source: IBEF
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