RBI launches app for retail G-Secs trade

Currently, 60 application forms covering different regulatory and supervisory departments of the RBI are made available on the portal.
Image used for representational purposes only.
Image used for representational purposes only.File Photo | PTI

MUMBAI: The Reserve Bank has launched a mobile app for retail customers of government bonds, a portal to apply online for various regulatory approvals and a fintech repository.

Launching the three major initiatives on Tuesday, governor Shaktikanta Das said the retail direct mobile app will provide retail investors a seamless and convenient access to the retail direct platform and provide ease of transacting in government securities (G-Secs).

The RBI had in November 2021 launched a retail direct portal to facilitate retail investors to open their retail direct gilt accounts with the RBI under the retail direct scheme. The scheme allows retail investors to buy G-Secs in the primary auctions as well as buy and sell them in the secondary market.

With mobile app, retail investors of G-Secs can now transact using the app. Launching the Pravaah portal, Das said this will make it convenient for any individual or entity to apply online for various regulatory approvals in a seamless manner. Currently, 60 application forms covering different regulatory and supervisory departments of the RBI are made available on the portal.

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