PM Modi launches scheme for retail investors to buy, sell gilts directly

Narendra Modi said that the scheme offers a simple and safe way for middle class, small shopkeeper, senior citizens to get direct access for investment in the government securities market.

Retail investors can now directly buy and sell Central government securities and state government bonds, as per the RBI Retail Direct Scheme, launched by Prime Minister Narendra Modi on Friday. He said this offers a saral aur surakshit (simple and safe) way for middle class, small shopkeeper, senior citizens to get direct access for investment in the government securities market.

All G-Secs have “guaranteed settlement” that provide comfort to small investors for an attractive return along with safety of capital, he said, adding it will widen the investor base and provide resources to the government for investment in infrastructure. Investors can open and operate their account at rbiretaildirect.org.in.

He also launched Integrated Ombudsman Scheme, which will enable nearly 44 crore loan accounts and 220 crore deposit accounts to file any grievance with the RBI via an online facility.

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