PM Narendra Modi launches two RBI initiatives for investors

Highlights:

• Prime Minister Narendra Modi launched two customer-centric initiatives of the Reserve Bank of India (RBI) for investors on November 12, 2021.
• The two initiatives are- RBI Retail Direct Scheme and Reserve Bank - Integrated Ombudsman Scheme.
• With the launch of these scheme, India has opened up Government bond market for retails investors.
• RBI Retail Direct Scheme will act as a safe medium of investment for small investors in government securities.
• Both the innovative customer-centric initiatives will help in increasing investment avenues and thus make accessing capital market easier & safer.
• Under this scheme, retail investor will get access to the government securities market. It offers a new avenue for investing directly in securities issued by Centre and state governments. 
• Investors will be able to open and maintain government securities account online easily & free of cost, with the RBI.

• This scheme was launched to help in improving grievance redress mechanism to resolve customer complaints against regulated entities of RBI. 
• It will do away with the jurisdictional limitations and limited grounds for complaints. 
• This scheme based on the principle of ‘One Nation-One Ombudsman’ comprising of “one portal, one email, and one address” for customers to file their complaints.