RBI announces launch of mobile app for retail direct investors

The Reserve Bank of India (RBI) has announced the launch of a mobile application for its Retail Direct Scheme, marking a significant step forward in making government securities more accessible to retail investors.

The app will facilitate investments in various government securities, including central and state government bonds, Treasury bills, and more, directly from smartphones or tablets.

Simplifying investment in government securities

The Retail Direct Scheme, initiated in November 2021, aims to simplify the process for individual investors to invest in government securities.

With the new app, investors can now manage their investments on the go, enhancing the convenience of buying and selling securities through the NDS-OM platform in both primary and secondary markets. This move is expected to deepen the government securities (G-sec) market by attracting more retail participation.

What does the RBI say?

RBI Governor Shaktikanta Das emphasized that the introduction of the mobile app is geared towards improving access and convenience for retail investors, stating, "This will be of greater convenience to retail investors and deepen the G-sec market."

It has also assured that the app will be user-friendly, offering features similar to other investment apps that allow users to manage their portfolios, track market performance, and execute transactions seamlessly.

Eligibility and benefits

To be eligible for the Retail Direct Scheme, investors need to have a Rupee savings account, PAN, valid KYC documents, a valid email ID, and a mobile number.

The scheme permits both single and joint account modes, including for non-resident retail investors. It enables investors to participate in the primary issuance of government securities and trade in the secondary market without any intermediary, making it a direct and secure platform for investment.

Additional support and security

The RBI has made provisions for support and security within the Retail Direct Portal, offering help through a toll-free number and email.

Moreover, it reassures investors by highlighting that there are no fees or charges for opening and maintaining a Retail Direct Gilt Account. Amidst this, the RBI also alerts the public to remain vigilant against spoof calls, underscoring its commitment to ensuring a secure investment environment for its users.