NEW DELHI: Prime Minister Narendra Modi today launched the 'RBI Retail Direct Scheme' which will now enable retail individuals to directly purchase treasury bills, dated securities, sovereign gold bonds (SGBs) and State development loans (SDLs) from primary as well as secondary markets.

According to the scheme, retail investors (individuals) will have the facility to open an online Retail Direct Gilt Account (RDG Account) with the Reserve Bank of India (RBI). These accounts can be linked to their savings bank accounts. 

The RDG Accounts of individuals can be used to participate in the issuance of government securities (G-Secs) and secondary market operations through the screen-based NDS-OM. 

NDS-OM, a screen-based electronic anonymous order matching system for secondary market trading in G-Secs owned by RBI, is currently open only to institutions like banks, primary dealers, insurance companies and mutual funds. 

Payments for transactions can be done conveniently using a savings bank account through internet banking or Unified Payments Interface (UPI). Investors can obtain help and other support facilities on the portal itself and also through a toll-free telephone number 1800-267-7955 (10 am to 7 pm) and email, the statement has added. 

Investors’ services include provisions for transaction and balance statements, nomination facility, pledge or lien of securities and gift transactions. 

RBI in a statement said, "A significant milestone in the development of the G-Secs market, the Reserve Bank of India-Retail Direct (RBI-RD) Scheme will bring G-Secs within easy reach of the common man by simplifying the process of investment."

"No fees will be charged for facilities provided under the scheme," the RBI has said and added that the scheme aims to provide a safe, simple, direct and secure platform to investors.