G-secs: RBI unveils retail direct scheme

The RBI on Monday announced the unveiling of a scheme under which retail investors will be allowed to open retail direct gilt accounts (RDG) directly with the central bank.This account can be opened t

The RBI on Monday announced the unveiling of a scheme under which retail investors will be allowed to open retail direct gilt accounts (RDG) directly with the central bank. This account can be opened through a dedicated online portal, which will provide registered users access to primary issuance of government securities and to NDS-OM. “The date of commencement of the scheme will be announced at a later date,” the RBI said in a circular. The scheme is a one-stop solution to facilitate investment in government securities (G-secs) by individual investors, the regulator said. The facility was announced in the Statement of Developmental and Regulatory Policies dated February 5, RBI said.