Prime Minister Narendra Modi on Friday launched two consumer-centric initiatives by the Reserve Bank of India- the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.
While launching the schemes, PM Modi said "The two schemes that have been launched today will expand the scope of investment in the country and make access to capital markets easier, more secure for investors."
The RBI Retail Direct Scheme is a free avenue for retail investment in government securities through which retail investors can open and maintain their government securities online with the RBI. "With the Retail Direct scheme, small investors in the country have got a simple and safe medium of investment in government securities," PM Modi said.
On the other hand, the Integrated Ombudsman Scheme is a single reference point for customers to file complaints, submit documents, track status and provide feedback. It is an integrated scheme for customer complaints against RBI-regulated entities. The bank customers will be able to file complaints, submit documents, track status, and give feedback through a single email address. There will also be a multi-lingual toll-free number that will provide all relevant information on grievance redress.
"RBI has been leveraging technology & innovation for enhancing the efficiency of its services. RBI's developmental role is focused on further deepening of financial inclusion and undertaking people-centric initiatives," RBI Governor Shaktikanta Das said.
"In the last few years in the country's banking sector, from inclusion in the financial sector to technological integration and other reforms, we have seen their strength even in these difficult times during COVID-19. The decisions of RBI also helped in increasing the impact of the big decisions that the government was taking," PM Modi added.
Further lauding the RBI for its initiatives, the PM said "To further strengthen the banking sector, cooperative banks were also brought under the purview of RBI. Due to this the governance of these banks is also improving and the trust in this system is getting stronger even among the lakhs of depositors."
While launching the schemes, PM Modi said "The two schemes that have been launched today will expand the scope of investment in the country and make access to capital markets easier, more secure for investors."
The RBI Retail Direct Scheme is a free avenue for retail investment in government securities through which retail investors can open and maintain their government securities online with the RBI. "With the Retail Direct scheme, small investors in the country have got a simple and safe medium of investment in government securities," PM Modi said.
On the other hand, the Integrated Ombudsman Scheme is a single reference point for customers to file complaints, submit documents, track status and provide feedback. It is an integrated scheme for customer complaints against RBI-regulated entities. The bank customers will be able to file complaints, submit documents, track status, and give feedback through a single email address. There will also be a multi-lingual toll-free number that will provide all relevant information on grievance redress.
"RBI has been leveraging technology & innovation for enhancing the efficiency of its services. RBI's developmental role is focused on further deepening of financial inclusion and undertaking people-centric initiatives," RBI Governor Shaktikanta Das said.
"In the last few years in the country's banking sector, from inclusion in the financial sector to technological integration and other reforms, we have seen their strength even in these difficult times during COVID-19. The decisions of RBI also helped in increasing the impact of the big decisions that the government was taking," PM Modi added.
Further lauding the RBI for its initiatives, the PM said "To further strengthen the banking sector, cooperative banks were also brought under the purview of RBI. Due to this the governance of these banks is also improving and the trust in this system is getting stronger even among the lakhs of depositors."
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