The scheme has introduced authorities securities inside straightforward attain of retail traders by simplifying the method of funding.
RBI-Retail Direct Scheme was launched by the Prime Minister on November 12, 2021.
The Reserve Bank on Monday stated retail traders can subscribe to Floating Rate Savings Bonds, 2020 (Taxable) via its Retail Direct portal.
RBI-Retail Direct Scheme was launched by the Prime Minister on November 12, 2021.
Under the scheme, particular person traders are permitted to open a Retail Direct Gilt account with the Reserve Bank of India, utilizing a web-based portal, via which investments in authorities Securities may be made in major and secondary markets.
The scheme has introduced authorities securities inside straightforward attain of retail traders by simplifying the method of funding.
“In its endeavour to expand the basket of products offered through the Retail Direct Portal, Reserve Bank of India, in consultation with the Government of India, has enabled subscription to Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T),” the central financial institution stated in a press release.
FRSBs are curiosity-bearing, non-tradeable bonds, issued by the central authorities, that are repayable on the expiration of seven years from the date of problem.
Earlier, retail traders have been allowed to put money into central authorities securities, treasury payments, state authorities securities and sovereign gold bonds via the Retail Direct portal.
(This story has not been edited by News18 workers and is revealed from a syndicated information company feed – PTI)
