Prime Minister Shri Narendra Modi on 12 November, 2021 launched two customer-centric initiatives of the Reserve Bank of India (RBI)- the RBI Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme. With this, India has opened up the Government bond market for the retail investors. “With the RBI Retail Direct Scheme, small investors in the country have got a safe medium of investment in government securities,” PM Shri Modi said.
The PM said that RBI’s two innovative customer-centric initiatives will increase investment avenues, make accessing the capital market easier, safer. According to the Prime Minister, the two schemes will expand the scope of investment in the country and make access to capital markets easier and more secure for investors.
Under the RBI Retail direct Scheme the Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost and RBI Integrated Ombudsman Scheme will help in improving the grievance redress mechanism for resolving customer complaints against RBI’s regulated entities.