The Reserve Bank of India (RBI) has proposed to launch a mobile application to enhance retail participation in the government securities (G-sec) market, Governor Shaktikanta Das said during the inaugural monetary policy review of the fiscal year 2025 on Friday, April 5.
The RBI Retail Direct Scheme was initiated in November 2021. Under this, retail individual investors were allowed to easily open a Retail Direct Gilt (RDG) Account with the Reserve Bank of India through a dedicated online portal rbiretaildirect.org.in.
Adding an app for easing the opening of gilt accounts, Das said would streamline access to the Retail Direct portal. “It will enhance convenience for retail investors and foster deeper engagement with the G-sec market,” he said.
Investment avenues under the scheme encompass both primary and secondary markets. In the primary issuance of government securities, investors can participate through the non-competitive scheme in government securities auctions, adhering to the procedural guidelines for SGB issuance.
Meanwhile, in the secondary market, investors can engage in buying and selling government securities via the NDS-OM platform, encompassing the ‘Odd Lot’ and ‘Request for Quotes’ segments.
Facilitating seamless transactions, payments can be conveniently executed through savings bank accounts via internet banking or UPI.
The investor services under the scheme include provisions for transaction and balance statements, nomination facilities, pledges or lien of securities, and gift transactions. Importantly, no fees will be levied for the facilities provided under the scheme.
