New Delhi: Prime Minister Narendra Modi on Friday launched two innovative, customer-centric initiatives reserve Bank of India (RBI), retail direct plan And this Integrated Ombudsman Scheme,
Both the schemes aim to ease access to the government securities market for retail investors.
Speaking at the event via video conferencing, PM Modi said that RBI as a regulator has kept in mind the needs of common investors. He said that access to capital market, including government securities, would now be easy and hassle-free for small investors.
At the launch of the schemes, the Prime Minister said that guaranteed settlement of government securities would assure attractive returns to small investors, while allowing government finance to pursue development goals.
The Prime Minister said that the two schemes launched today will expand the scope of investment in the country and make the access of investors to the capital market easier and more secure.
He also talked about ‘financial inclusion’ of all sections of the population. With the two new schemes, investment avenues will increase, access to the capital market will be easier and safer. The financial market, which was earlier like an ‘exclusive club’, has now been opened to all, he said.
Modi said the banking system was hit hard through corrupt practices in the years before 2014, the consequences of which are still being felt. Much of this has been mitigated through banking reforms. Willful defaulters are barred from raising funds through stringent checks and balances. He said that in the last seven years, NPAs have been identified in a transparent manner, while emphasis has been laid on resolution and recovery.
In the program, the PM talked about bringing the underprivileged under institutional funding, making the process transparent and fair.
He said that digital transactions in India have increased 19 times in the last seven years.
He lauded the RBI for being a sensitive and investor friendly regulator.
Both the schemes aim to ease access to the government securities market for retail investors.
Speaking at the event via video conferencing, PM Modi said that RBI as a regulator has kept in mind the needs of common investors. He said that access to capital market, including government securities, would now be easy and hassle-free for small investors.
At the launch of the schemes, the Prime Minister said that guaranteed settlement of government securities would assure attractive returns to small investors, while allowing government finance to pursue development goals.
The Prime Minister said that the two schemes launched today will expand the scope of investment in the country and make the access of investors to the capital market easier and more secure.
He also talked about ‘financial inclusion’ of all sections of the population. With the two new schemes, investment avenues will increase, access to the capital market will be easier and safer. The financial market, which was earlier like an ‘exclusive club’, has now been opened to all, he said.
Modi said the banking system was hit hard through corrupt practices in the years before 2014, the consequences of which are still being felt. Much of this has been mitigated through banking reforms. Willful defaulters are barred from raising funds through stringent checks and balances. He said that in the last seven years, NPAs have been identified in a transparent manner, while emphasis has been laid on resolution and recovery.
In the program, the PM talked about bringing the underprivileged under institutional funding, making the process transparent and fair.
He said that digital transactions in India have increased 19 times in the last seven years.
He lauded the RBI for being a sensitive and investor friendly regulator.
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