PM Modi launches 2 RBI Schemes, says they will make access to capital markets secure and easier for investors

The RBI Retail Direct Scheme is aimed at enhancing access to government securities market for retail investors and offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments.

New Delhi: Prime Minister Narendra Modi on Friday launched two innovative customer-centric initiatives of the Reserve Bank of India. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.

The PM launched the two innovative customer centric initiatives of the Reserve Bank of via video conferencing.

Modi said that the two RBI schemes will make access to capital markets secure and easier for investors.

“Small investors will get direct access to investing in govt securities market. Strong banking system essential for an economy,” he added.

The RBI Retail Direct Scheme is aimed at enhancing access to government securities market for retail investors. It offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments. Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.

The Reserve Bank - Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI. The central theme of the scheme is based on `One Nation-One Ombudsman` with one portal, one email and one address for the customers to lodge their complaints.

There will be a single point of reference for customers to file their complaints, submit the documents, track status and provide feedback. A multi-lingual toll-free number will provide all relevant information on grievance redress and assistance for filing complaints.