PM to launch RBI Retail Direct Scheme and Reserve Bank – Integrated Ombudsman Scheme on 12 November
Two innovative customer-centric initiatives of the Reserve Bank of India will be launched by Prime Minister Shri Narendra Modi on 12 November 2021. it would be done through video conferencing. these two initiatives are RBI Retail Direct Scheme and Reserve Bank – Integrated Ombudsman Scheme.
The first one — RBI Retail Direct Scheme is aimed at enhancing access to the 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 support their government securities account online with the RBI, without any additional costs.
The second one — 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.