PM Modi launches scheme for retail traders to purchase, promote gilts straight

Retail traders can now straight purchase and promote Central authorities securities and state authorities bonds, as per the RBI Retail Direct Scheme, launched by Prime Minister Narendra Modi on Friday. He mentioned this presents a saral aur surakshit (easy and protected) means for center class, small shopkeeper, senior residents to get direct entry for funding within the authorities securities market.
All G-Secs have “guaranteed settlement” that present consolation to small traders for a horny return together with security of capital, he mentioned, including it is going to widen the investor base and supply sources to the federal government for funding in infrastructure. Investors can open and function their account at rbiretaildirect.org.in.
He additionally launched Integrated Ombudsman Scheme, which can allow practically 44 crore mortgage accounts and 220 crore deposit accounts to file any grievance with the RBI by way of a web-based facility.