Under RBI Retail Direct scheme RBI has launched a website as well as mobile App for individual investors to invest in Government securities like Central Govt bonds, State Govt Bonds, Sovereign Gold bonds, Treasury bills etc. The account is called RDG – Retail Direct Guilt account. The RDG account can be opened as Single holder or joint holder account.
You can register for nominations, you can do gifting, and also pledge / lien or transfer these assets using this platform.
You can read more about it on their official website.
Eligibility Criteria
Any retail investor (natural person) can open an account under this scheme. He needs to have
- Saving account in Bank
- PAN
- Any Valid document for KYC purpose (Customers can choose from a list of OVDs when undergoing the KYC process. Passport, Driving License, Voter’s Identity Card, Job Card issued by NREGA, and Aadhaar letter are among the acceptable OVDs.)
- Mobile number
- email id
NRIs who are eligible to invest in government securities can open the account.
Fees for RBI Retail Direct Scheme
The account opening and all the transactions are free.
Conclusion
This is very good initiative by RBI to involve retail investors to directly invest in bonds market. The mobile app makes it very user friendly and accessible everywhere.
#tradeyoga.in
#TradeyogaFinance
#TradeyogaSchool