RBI Free App: Good news for those who want to invest in Government Securities (G-Secs), Government Bonds. Reserve Bank of India (RBI) has created a special app for such people. This will make investing and tracking them very easy. This app will be available to users soon.
Good news for those who want to invest in Government Securities (G-Secs), Government Bonds. Reserve Bank of India (RBI) has created a special app for such people. This will make investing and tracking them very easy. This app will be available to users soon. Regarding this, RBI Governor Shaktikanta Das said that for the convenience of investors, the Retail Direct portal has been brought in the form of a mobile application. In this, investors can make purchases as well as sales, making the process much easier, he said. What is RBI Retail Direct Scheme in this order? How to invest in it? What is in the mobile app? Now let’s see the full details like..
RBI Retail Direct Scheme
The RBI Retail Direct Scheme, launched in November 2021, provides access to individual investors to maintain guild accounts with RBI and invest in government securities. The scheme enables investors to buy securities in the primary auction as well as buy/sell securities through the Negotiated Dealing System Order Matching System (NDS-OM) platform. RBI allows non-bank payment system operators to offer Central Bank Digital Currency (CBDC) wallet to promote its wider use. The government is planning for a gross market loan of Rs 14.13 lakh crore for the year 2024-25. Out of this, Rs.7.5 lakh crore i.e. 53 percent is to be borrowed in the first half (H1).
RBI Governor Shaktikanta Das said that while testing the resilience of the CBDC platform in handling multi-channel transactions, the initiative will serve to improve consumer access and widen the range of accessible options. He stated that adjustments will be implemented in the system to support this effort. In November 2022, a special scheme called Digital Rupee – Wholesale (eW) was introduced. It is a wholesale CBDC pilot, focusing on settlement of secondary market transactions in government securities. RBI has introduced a pilot project for the retail version of CBDC (eR) in the next phase.
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