New Delhi, Nov 12: Prime Minister Narendra Modi launched two innovative customer centric initiatives of the Reserve Bank of India today to allow retail investors to invest easily in government securities. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.
RBI Retail Direct Scheme is a one-stop solution for improving ease of access by retail investors through 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.
The scheme is aimed at enhancing access to government securities market for retail investors. It offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments. Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.
As per the rules, investors will have access to bidding in primary auctions as well as the central bank's trading platform for government securities called Negotiated Dealing System-Order Matching Segment, or NDS-OM.
The Reserve Bank - Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI. The central theme of the scheme is based on 'One Nation-One Ombudsman' with one portal, one email and one address for the customers to lodge their complaints. There will be a single point of reference for customers to file their complaints, submit the documents, track status and provide feedback. A multi-lingual toll-free number will provide all relevant information on grievance redress and assistance for filing complaints.
Union Finance Minister and RBI Governor will also attend the event.