New Delhi: Prime Minister Narendra Modi will launch two innovative customer-centric initiatives of the Reserve Bank of India (RBI) via video conferencing on Friday, November 12. The RBI Retail Direct Scheme and the Reserve Bank-Integrated Ombudsman Scheme are two of these initiatives. The event will also be attended by the Union Finance Minister and the Governor of the Reserve Bank of India.
Notably, the RBI Retail Direct Scheme aims to improve retail investors' access to the government securities market. It gives them a new way to invest directly in securities issued by the Indian government and state governments. Investors will be able to open and manage their government securities account with the RBI online for free.
The RBI-Integrated Ombudsman Scheme aims to improve the grievance redress mechanism for customers who have complaints about entities regulated by the Central Bank. The scheme's central theme is 'One Nation-One Ombudsman,' with one portal, one email, and one address for customers to lodge complaints. Customers will be able to file complaints, submit documents, track status, and provide feedback through a single point of contact. A multilingual toll-free number will provide all pertinent information on grievance redress and complaint assistance.