RBI retail direct scheme gets health response

Reserve Bank of India has received a great response for its customer-centric initiative of ‘Retail Direct Scheme’. The scheme provides a fresh medium of investment 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. #RBIRetailDirect #RBItoday.”

The scheme was launched by PM Narendra Modi on Friday. At the launch occasion, Prime Minister Modi said the `Retail Direct Scheme` has given small investors in the country a simple and safe & secure medium of investment in government securities.

Till now, small investors found the investment exercise in G-sec as a cumbersome process. 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 safely in government securities.

As government securities have the provision of guaranteed settlement, this gives assurance of security to the small investor, he said. The scheme has been persuaded as an important milestone in the development of the G-sec market.