RBI RETAIL DIRECT SCHEME

RBI RETAIL DIRECT SCHEME. November 2021. Institute of Banking Excellence.

Significance. The securities issued by Government of India are sold through Reserve Bank of India. Government securities are risk free and as benchmark help in determining the interest rates. Currently the major players in market are Banks, Primary Dealers etc. RBI Retail Direct Scheme is aimed at easing the access of buying and selling of Government Securities to retail investors.

Government Securities. Government Securities include Treasury Bills (Tenure upto 360 days) Dated Securities (Tenure from 1 year to 30 years) Sovereign Gold Bonds State Development Loans (SDLs), simply it means bonds issued by State Governments.

Important for trade of Govt Securities. NDS-OM is the platform where the trading of Government Securities take place CCIL also acts as clearing agent for movement of securities SGL Accounts- Subsidiary General Ledger accounts are maintained with RBI where the Govt Securities are credited.

. CONTACT FOR ORDER 9463360038 or MAIL AT IBEXCELLENCE@REDIFFMAIL.COM SCALE III TO IV AND SCALE IV TO V PROMOTIONS - Rs.2725/- SCALE I TO II AND SCALE II TO III PROMOTIONS - Rs.2375/- CLERICAL TO OFFICER PROMOTION – Rs.2050/-.

Scope of the Scheme. RBI Retail Direct’ is a comprehensive scheme providing f ollowing facilities to retail investors in government securities market through an online portal: i ) Open and maintain a ‘Retail Direct Gilt Account’ (RDG Account) with RBI ii) Access to primary issuance of Government securities iii) Access to NDS-OM for secondary market operations in Govt securities.

Eligibility. Retail investors can register under the Scheme and maintain a RDG Account, if they have the following: i ) Rupee savings bank account maintained in India; ii) Permanent Account Number (PAN) issued by the Income Tax Department; iii) Any OVD for KYC purpose; iv) Valid email id; and v) Registered mobile number. RDG Account can be opened singly or jointly.

Registration. Investors can register on the online portal ( https://rbiretaildirect.org.in ) by filling up the online form and use the OTP received on the registered mobile number and email id to authenticate and submit the form..

Primary Market. Interested investors can participate by bidding in primary auction of government securities Only one bid is permitted per security. Payment is to be made to aggregator/Receiving Office through linked bank account. Refunds will be credited to investors’ bank account by the aggregator as per results of auction..

Secondary Market. Registered investors can sell or buy government securities at NDS OM platform. Investors will transfer funds from their linked account to the designated account of CCIL for successful trades on the platform. The Securities purchased will be credited to RDG Account During a sale transaction, the securities will be blocked form RDG Account of the customer till settlement of trade A mount of the sale transaction will be credited to the linked bank account of the customer..

Important to note. Nomination: Two nominees maximum. In the event of death, the securities can be transmitted to the RDG Account or any other Government securities account of the nominee on submission of death certificate and transmission form Securities held in the RDG Account will be available for pledge/lien Gift: Can be gifted to other RDG Account holders.

. HOW TO ORDER D eposit the amount, as per cost given above, in our current account with Axis Bank of M/s Institute of Banking Excellence A/c No. 921020030890637 (IFSC Code UTIB0000155) Inform us your complete details alongwith Pin Code and Mobile number on ibexcellence@rediffmail.com or WhatsApp on 9463360038.

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