You can open this account online only. The central bank said that retail investors can open a Retail Direct Gilt Account (RDG Account) with the Reserve Bank. Let us tell you that in order to increase retail partnership in government securities, the government had also announced ‘The RBI Retail Direct Facility’.
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Improving Access to Government Securities
Let us tell you that the purpose of this plan is to improve the reach of government securities. Along with this, the online reach of retail investors is also to be increased. This includes both primary and secondary markets.
Who can open account?
According to RBI, single and joint account can be opened in this. You can open your account with any other retail investor, but you need to meet the eligibility criteria for the same.
Retail investors need to have a savings bank account in India, Permanent Account Number (PAN) or any officially valid document for KYC purposes, a valid email ID for registering under the Retail Direct Plan and maintaining an RDG account and Mobile number is required.
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This online portal will provide the registered user with access to NDS-OM in addition to the primary issue of Government securities. NDS-OM refers to RBI’s screen-based electronic order matching system for trading in government securities in the secondary market.