Prime Minister Narendra Modi
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 that the RBI Retail Direct Scheme aims to increase access to the government securities market for retail investors.
This provides them a new opportunity for direct investment in securities issued by the Central and State Governments. It said that investors will be able to easily open and maintain their government securities accounts with RBI free of cost.
The Reserve Bank-Integrated Ombudsman Scheme aims to further improve the grievance redressal mechanism for redressal of customer complaints against entities regulated by the central bank.
The PMO said the central theme of the scheme is based on “One Nation-One Ombudsman” with one portal, one e-mail address and one postal address for customers to register their grievances.
There will be a single reference point for customers to register their complaints, submit documents, track the status of their complaints and provide feedback. A multilingual toll-free phone number will provide all relevant information regarding grievance redressal and assistance in filing a complaint.
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