Mumbai, Nov 13 : Reserve Bank of India has received a healthy response for its customer centric initiative of ‘Retail Direct Scheme’.Mumbai, November 13, : The customer-centric initiative of the Reserve Bank of India’s ‘Retail Direct Scheme’ has attracted a positive response. The scheme provides a new medium of investment in government securities.This scheme offers a new way to invest in government securities.
In a tweet, RBI on Saturday said: “Encouraging response to RBI Retail Direct Scheme; 12,000+ registrations as of 2.30 pm on November 13, 2021.RBI tweeted Saturday: “Encouraging response from RBI Retail Direct Scheme; 12,000+ Registrations as of 2.30pm on November 13, 2021.#RBIRetailDirect #RBItoday.”
The scheme was launched by Prime Minister Narendra Modi on Friday.Prime Minister Narendra Modi launched the scheme on Friday.
At the launch event, Prime Minister Modi said the ‘Retail Direct Scheme’ has given small investors in the country a simple and safe medium of investment in government securities.
Prime Minister Modi spoke at the launch event and stated that the “Retail Direct Scheme” has provided small investors with a safe way to invest in government securities.
Till now, small investors found the investment exercise in G-sec as a cumbersome process.
Small investors have found G-sec investment cumbersome to date.
Furthermore, he pointed out that ‘Retail Direct Scheme’ will bring in the middle class, employees, small businessmen and senior citizens with their small savings directly and securely in government securities.
He also pointed out that the ‘Retail Direct Scheme’ will allow employees to join the middle class and seniors to save small amounts directly in government securities.
As government securities have the provision of guaranteed settlement, this gives assurance of safety to the small investor, he said.
He said that government securities offer small investors safety by guaranteeing settlement.
The scheme has been touted as a significant milestone in the development of the G-sec market.
This scheme is seen as a major milestone in the growth of the G-sec industry.
It is expected to bring in G-secs within easy reach of the common man by simplifying the process of investment.
G-secs will be within reach of common people by simplifying investment.
The scheme will provide 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.Online access to the primary and secondary government securities markets will be available through the scheme.Customers can also open a gilt securities account (called ‘Retail Direct’) at the RBI #rbiretaildirect #rbitoday.”
the #Remarkable #response #RBIs #Retail #Mumbai
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