Scope of the scheme
a. “RBI Retail Direct” is a comprehensive program that provides the following
facilities for retail investors in the government securities market through a
portal:
I. Open and maintain a “direct retail account for gilt” (RDG account)
ii. Access to the primary issue of government securities
iii. Access to NDS-OM
Eligibility
a. Retail investors, as defined in the scheme, may enroll under the scheme and
maintain an RDG account, if they have the following:
I. Rupee savings account maintained in India
ii. Permanent Account Number (PAN) issued by the Income Tax Service
iii. Any OVD for KYC purposes
iv. Valid email id
b. Non-resident retail investors eligible to invest in government securities under
The 1999 Foreign Exchange Management Act are eligible for the program.
vs. The RDG account can be opened alone or jointly with another retail investor who
meets the eligibility criteria
Registration and procedure
To enroll in the RBI Retail Direct program, all you need to do is complete the eligibility criteria and have all required documents with you at the time of enrollment. The registration procedure can be done by visiting the device’s dedicated portal online at the following link: https: // www. rbiretaildirect.org.in/
After visiting the portal, the investor needs to enter information such as name, PAN card number, phone number, email address and bank account number. A tracking number is assigned after OTP validation of the mobile number and the e-mail address. Then the investor’s KYC (and, in the case of joint accounts, the KYC of all holders) is validated, as well as the investor’s bank account. The RDG account is established in the name of the investor once the process is completed.
After completing all the registration steps, the investor will receive a confirmation email with their account number, login ID and password on their respective email address, which will allow them to access to the online portal and use its functionalities.
Fees and charges
a. No fees will be charged for opening and maintaining an “RDG account” with
RBI.
b. No fees will be charged by the aggregator for the submission of bids in the primary auctions.
vs. Charges for payment gateway, etc., if any, will be the responsibility of the
investor.
