New Delhi: PM Narendra Modi is set to launch two customer-centric initiatives of RBI through video conferencing at 11 am on Friday - the retail direct scheme of the RBI and the Reserve Bank's Integrated Lokpal Scheme. According to a release issued by the PM's Office (PMO), the retail direct scheme RBI aims to increase retail investors in the government securities market as much as it can. Under which the way for retail investors to invest directly in securities issued by the Indian Government and the State Governments is to be introduced. Continuing, PMO has said that "investors can easily open government security accounts online with the help of RBI and are about to maintain those securities. Not only that, this service will be free of cost."
Ek Bharat, Ek Lokpal Yojana: According to PMO, the integrated Lokpal scheme aims to further improve the grievance redressal system so that RBI rules can be framed to address customer grievances against institutions. PMO has said, "The central theme of the scheme is going to be launched on the concept of 'One Nation-One Lokpal.'' Which will have a portal, an e-mail and an address where customers can lodge their complaints. Customers can lodge their complaints in one place, submit all their documents, know the status of their complaints and documents and give feedback. A multilingual toll-free number is also going to be provided for this, which will provide all necessary information about resolving complaints and lodging complaints. Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das are also present at the event.
What is Lokpal: The Lokpal and Lokayuktas Act, 2013 was enacted between the second term of former PM Dr Manmohan Singh. Under which the provision of Lokpal for the Centre and Lokayukta for states was also introduced. The Lokpal and the Lokayuktas do not have constitutional status, both these institutions are statutory bodies. The Ombudsman completes the task like Ombudsman (an institution set up to monitor the functions of administrative and public representatives in Sweden). The organization monitors the actions of government officials under a certain category and takes action against them concerning complaints against them. This institution investigates against a particular or institution of the person found guilty in the investigation.
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