RBI comes up with scheme for retail investment into government securities
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The Reserve Bank of India (RBI) on Monday issued the 'RBI Retail Direct' scheme to facilitate investment into government securities by individual investors.
The scheme, to help retail investors or individuals open and maintain the 'Retail Direct Gilt Account' (RDG Account) with the central bank, will be commenced in a later date, said an RBI statement.
RDG Account can be opened through an online portal provided for the purpose of the scheme.
The portal will also give the registered users facilities to access to primary issuance of Government securities and access to NDS-OM.
As part of continuing efforts to increase retail participation in government securities, 'the RBI Retail Direct' facility was announced in February 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 with the RBI.
Government securities or bonds, commonly known as G-Secs are debt instruments issued by the Reserve Bank of India, on behalf of the Centre or state governments.
