The Reserve Bank of India (RBI) Governor Shaktikanta Das has announced plans to launch a mobile app for accessing the Retail Direct Scheme, allowing retail investors to engage in the government securities market with greater ease. In his monetary policy statement, Das emphasized that the introduction of the app will enhance convenience for retail investors and contribute to the deepening of the G-sec market.
Currently, retail investors have the option to invest in various financial instruments through the retail direct portal, including central government securities, treasury bills, state government securities, sovereign gold bonds, and floating rate saving bonds. The introduction of the app is expected to enhance transparency and streamline the investment process for retail investors, creating a fairer environment in the G-sec market.
Market participants believe that the RBI’s app will empower individuals to participate more actively in the financial markets. Umesh Revankar, Executive Vice Chairman at Shriram Finance, described the app as a proactive step towards democratizing investment opportunities.
Furthermore, the app’s operation within a regulated framework is expected to provide retail investors with a sense of security. Venkatakrishnan Srinivasan, founder and managing partner of Rockfort Fincap LLP, highlighted that the RBI ensures compliance with regulatory requirements and safeguards investor interests.
As of April 1, the majority of subscriptions through the Retail Direct Scheme were channeled towards treasury bills, with central government securities, state government securities, sovereign gold bonds, and floating rate saving bonds accounting for smaller proportions of subscriptions. The launch of the mobile app is expected to attract more retail investors to explore and invest in a wider range of government securities, ultimately contributing to the growth and development of the G-sec market.