RESERVE Bank of India (RBI) has taken several measures for financial inclusion by improving convenience in accessing savings and investment products. Common man has multiple options for saving and investment, one amongst which is Government securities. Investment in Government securities is very safe and secure as the investor is assured of getting his principal and interest payments. However, individual investors have shown lukewarm interest to invest their savings in Government securities. To further the goal of financial inclusion and provide smooth and direct access for these investors to the Government securities market, ‘RBI Retail Direct’ Scheme has been launched recently.

 

RBI has made it very simple to open a securities account free of cost directly with RBI and invest in Government securities, Treasury bills and Sovereign Gold Bonds through the digital mode. Using the ‘online portal’ the investors get the facilities like buying Government securities in the primary auction conducted by Reserve Bank of India. Buy and sell Government securities in the secondary market. Also, payment for transactions can be made using saving bank accounts through net-banking and UPI. Investors can get loan from financial institutions by pledging Government securities present in their Retail Direct Account. Investors can also use the account to gift Government securities to other investors. Similarly, investors get the access to a grievance redressal facility, informs a press release.