Prime Minister Modi to launch 2 innovative initiatives from RBI

In the Friday, Prime Minister Narendra Modi will launch two innovative initiatives from the Reserve Bank of India, the retail direct scheme and the integrated ombudsman scheme.

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.

It offers them a new avenue for directly investing in securities issued by the Centre and the state governments. It added that investors can be able to open and maintain their government securities accounts online with the RBI for free.

The Reserve Bank-Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolveing customer complaints against entities regulated by the central bank.

The PMO said the central theme of the scheme is based on One Nation-United Ombudsman with one portal, one e-mail address and one post address for the customers to lodge their complaints.

There will be a single point of reference for the customers to file their complaints, submit documents, track the status of their complaints and provide feedback. A multi-lingual toll-free phone number will give you all the information about filing complaints and assistance for filing complaints.