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PM Will Launch 2 Innovative Customer-Centric Initiatives Of RBI On 12 November


Narendra Modi, Prime Minister of India is going to launch 2 innovative customer-centric initiatives of the Reserve Bank of India (RBI) on 12 November 2021. He will launch the initiatives at 11 AM, via a video conference. Union Finance Minister and RBI Governor will also be attending the event tomorrow. These initiatives are called as: the RBI Retail Direct Scheme, and the Reserve Bank - Integrated Ombudsman Scheme.

PM Will Launch 2 Innovative Customer-Centric Initiatives Of RBI On 12 November

Benefits of the RBI Retail Direct Scheme

The central bank's Retail Direct Scheme is aiming at enhancing access to the government securities market for retail investors and will offer them a new roadmap for directly investing in securities issued by the central government, and the state governments. By these 2 proposed initiatives, investors can easily open and maintain the government securities account online with the RBI. This facility will be provided free of cost.

Benefits of the Reserve Bank - Integrated Ombudsman Scheme

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 of India. The key theme of the scheme is based on 'One Nation-One Ombudsman' with 1 portal, 1 email, and 1 address for the customers to lodge their complaints regarding the matter. This will ease the investors' virtual activities on the portal. As the government informs, "There will be a single point of reference for customers to file their complaints, submit the documents, track status, and provide feedback. A multi-lingual toll-free number will provide all relevant information on grievance redress and assistance for filing complaints."

Story first published: Thursday, November 11, 2021, 15:55 [IST]
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