PM Modi Live: RBI Retail Direct, Integrated Ombudsman Schemes to be launched. key points

Prime minister Narendra Modi On Friday, the Reserve Bank of India unveiled two much-awaited schemes – the Retail Direct Scheme and the Integrated Ombudsman Scheme. These two schemes will make investment and housing and investment concerns easier and faster. RBI Retail Direct Scheme will allow you to invest directly in government securities. The objective of the Integrated Ombudsman Scheme is to simplify the process of grievance redressal.

1) Investing in government securities will become easier with the new RBI Retail Direct Scheme. Now, retail investors can open and maintain their government securities accounts with RBI online free of cost. Investment options will be in central government securities, treasury bills, state development loans and sovereign gold bonds.

2) Government securities are debt instruments (bonds and treasury bills) issued by the Reserve Bank of India on behalf of the central government. There are two types of G-secs – a) Treasury bills with different tenors of 91, 182 and 364 days b) Long term G-secs which can mature in 5-40 years. The state government can also issue such instruments, which are known as state development loans.