Prime Minister Narendra Modi will launch two innovative, customer-centric initiatives of the Reserve Bank of India (RBI), the retail direct scheme and the integrated ombudsman scheme, via video-conferencing on Friday. In a statement on Thursday, the Prime Minister’s Office (PMO) said the 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 the securities issued by the Centre and the State governments. Also read: Interest rates: Greater synergy between RBI’s expectations and the market behaviour: DasThe Reserve Bank-Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by the central bank. A multi-lingual toll-free phone number will provide all the relevant information on grievance redress and assistance for filing complaints.

Source: The Hindu November 11, 2021 16:00 UTC