New Delhi: On Friday morning, Prime Minister Narendra Modi virtually launched two Reserve Bank of India customer-centric programmes. The RBI Retail Direct Scheme and the Reserve Bank Integrated Ombudsman Scheme are the two schemes. The two programmes are targeted at increasing retail investor engagement in government securities, according to RBI Governor Shaktikanta Das and Finance Minister Nirmala Sitharaman during the inaugural ceremony.
The RBI Retail Direct Scheme aims to improve retail investors' access to the government securities market. It provides them with a new way to invest directly in securities issued by the federal and state governments. Investors will be able to open and manage government security account with the RBI online for free.
The Reserve Bank's Integrated Ombudsman Scheme intends to strengthen the grievance redress system for customer complaints against RBI-regulated firms. The scheme's fundamental premise is 'One Nation-One Ombudsman,' with one portal, one email, and one address for customers to make complaints. Customers will be able to make grievances, provide documents, track status, and provide comments through a single point of contact. A multilingual toll-free number will provide all pertinent information on grievance redress and complaint support.
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