RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme to be launched by PM on 12th Nov

Last updated: 12 November 2021

Save Share

Quick Summary

Prime Minister Narendra Modi is set to launch two new customer-focused initiatives from the Reserve Bank of India on November 12th, 2021. The RBI Retail Direct Scheme will provide retail investors with direct access to the government securities market, allowing them to open and manage accounts with the RBI online for free. Additionally, the Reserve Bank - Integrated Ombudsman Scheme will streamline the complaint resolution process for customers of RBI-regulated entities, introducing a 'One Nation-One Ombudsman' system.

PM to launch two innovative customer centric initiatives of RBI on 12 November

Prime Minister Shri Narendra Modi will launch two innovative customer centric initiatives of the Reserve Bank of India on 12 November, 2021 at 11 AM via video conferencing. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.

PM Launches RBI Retail Direct and Integrated Ombudsman Schemes

The RBI Retail Direct Scheme is aimed at enhancing access to government securities market for retail investors. It offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments. Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.

The Reserve Bank - Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI. The central theme of the scheme is based on ‘One Nation-One Ombudsman’ with one portal, one email and one address for the customers to lodge their complaints. 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.

Union Finance Minister and RBI Governor will also attend the event.

FAQ :

The Prime Minister is launching the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.

The RBI Retail Direct Scheme aims to increase access for retail investors to the government securities market, allowing them to invest directly in securities issued by the Government of India and State Governments.

Investors can open and maintain their government securities account online with the RBI free of charge.

The scheme aims to improve the process for resolving customer complaints against entities regulated by the RBI.

The central theme is 'One Nation-One Ombudsman', featuring a single portal, email, and address for customers to lodge complaints.

Yes, a multi-lingual toll-free number will be available to provide information on grievance redress and assistance for filing complaints.

1923 Views Comment Share Community & General Report

News posted by

CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

View News

Comments :