Comments
Prime Minister Narendra Modi will launch two innovative, customer-centric initiatives of the Reserve Bank of India (RBI), the retail direct scheme and the integrated ombudsman scheme, via video-conferencing on Friday.
In a statement on Thursday, the Prime Minister’s Office (PMO) said the RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors.
It offers them a new avenue for directly investing in the securities issued by the Centre and the State governments. The investors will be able to easily open and maintain their government securities accounts online with the RBI for free, it added.
Also read: Interest rates: Greater synergy between RBI’s expectations and the market behaviour: Das
The Reserve Bank-Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by the central bank.
The PMO said the central theme of the scheme is based on “One Nation-One Ombudsman” with one portal, one e-mail address and one postal address for the customers to lodge their complaints.
There will be a single point of reference for the customers to file their complaints, submit documents, track the status of their complaints and provide feedback. A multi-lingual toll-free phone number will provide all the relevant information on grievance redress and assistance for filing complaints.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.