PM Modi launched two RBI Schemes: Prime Minister Narendra Modi today launched two special schemes of RBI, which are of great use to retail investors. Today, on November 12, through video conference, PM Modi launched the Retail Direct Scheme and Integrated Ombudsman Scheme of RBI. RBI’s Retail Direct Scheme will increase the access of retail investors in the government securities market and they will be able to invest directly in the securities issued by the Government of India and the State Government. The returns of investors will increase due to direct investment. Apart from this, RBI will be able to make rules for redressal of complaints through the Integrated Ombudsman Scheme. It is a portal, an e-mail and an address where complaints can be filed. RBI Governor and Finance Minister Nirmala Sitharaman were also present during the launch today.
Virtual launch of RBI’s innovative schemes by PM https://t.co/65QDDwFXw5
— ReserveBankOfIndia (@RBI) November 12, 2021
What is Retail Direct Scheme
The main objective of the Retail Direct Scheme of the central bank RBI is to increase access to government securities for retail investors. Under this scheme, retail investors can directly invest in any securities issued by the Central and State Governments. Investors will be able to easily open and maintain an account with RBI for government securities. No fee will be charged from them for this.
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Redressal of complaints through Integrated Ombudsman Scheme
The main objective of this scheme is to improve the process of redressal of any complaints against entities regulated by RBI. The main theme of this scheme is ‘One Nation, One Ombudsman’ which is based on ‘One Portal, One E-mail, One Portal’. This means that the institutions that RBI regulates will be able to file any complaint related to them in one place. Customers can file complaints, submit documents, track status and provide feedback at one place. Apart from this, there is also a toll free number in many languages which will help the customers.
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