Why in the News
The ‘RBI Retail Direct’ scheme, which is a one-stop solution to facilitate investment in Government Securities by individual investors is being issued on November 12th, 2021.
Background:
As part of continuing efforts to increase retail participation in government securities, ‘the RBI Retail Direct’ facility was announced in the Statement of Developmental and Regulatory Policies dated February 05, 2021, 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.
What comes under government securities?
-Government of India Treasury Bills;
-Government of India dated securities;
-Sovereign Gold Bonds (SGB);
-State Development Loans (SDLs).
Scope of the Scheme:
‘RBI Retail Direct’ is a comprehensive scheme that provides the following facilities to retail investors in the government securities market through an online portal:
i) Open and maintain a ‘Retail Direct Gilt Account’ (RDG Account)
ii) Access to primary issuance of Government securities
iii) Access to NDS-OM
Possible benefits of this Scheme:
Challenges:
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