RBI will launch mobile app for participation of retail investors in government securities market
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The Reserve Bank of India (RBI) will soon launch a mobile app to facilitate participation of retail investors in the government securities market. RBI Governor Shaktikanta Das made this proposal while presenting the first monetary policy review of the current financial year on Friday.
RBI’s retail ‘Direct Scheme’, introduced in November, 2021, facilitates individual investors to maintain gilt accounts with the central bank and invest in government securities. The scheme enables investors to buy securities in the primary auction as well as buy/sell securities through the NDS-OM platform.
The central bank said that to make this access easier and better, a mobile app of the retail ‘Direct Portal’ is being created. The app will enable investors to buy and sell instruments on the go, at their convenience. The app will be available for use soon.
The Reserve Bank of India (RBI) on Friday made no change in the policy repo rate and kept it at 6.5 percent in the first bi-monthly monetary policy review of the current financial year. The policy rate has been kept unchanged with the aim of bringing down inflation to four percent and accelerating economic growth amid global uncertainty. This is the seventh consecutive time that the repo rate has not been changed.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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