The Prime Minister of India, Mr Narendra Damodardas Modi on Friday, 12th November, 2021 launched two innovative customer-centric initiatives of the Reserve Bank of India. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme.
On Friday, PM Modi launched two innovative customer-centric initiatives for the Reserve Bank of India via video Conference. PM Modi also assured that these two RBI Schemes will make access to the capital market secure and will make it easier for the investors. Adding to that, he also said, “Small investors will get direct access to investing in govt securities market. Strong banking system essential for an economy”.
The RBI retail direct scheme is aiming to enhance access to the government securities market for retail investors. It offers them a new avenue for directly investing in securities issued by the Government of India and the State Government. Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.
The Reserve Bank – Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI. The central theme of the scheme is based on `One Nation-One Ombudsman` with one portal, one email and one address for the customers to lodge their complaints.
There will be a single point of reference for customers to file their complaints, submit the documents, track status and provide feedback. A multi-lingual toll-free number will provide all relevant information on grievance redress and assistance for filing complaints.