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What is Retail Direct Gilt Account?

For those investing in government securities, managing their investments has got easier with the introduction of Reserve Bank of India’s (RBI’s) Retail Direct Scheme. 

What is Retail Direct Scheme?

Retail Direct scheme is a one-stop solution for investment in Government Securities by individual investors.

Which securities are covered under Retail Direct Scheme?

(Updated on November 06, 2023)

A retail investor can invest in following securities through primary issuance as well as in secondary market –

  1. Government of India (GoI) Treasury Bills
  2. Government of India (GoI) dated securities
  3. Sovereign Gold Bonds (SGB)
  4. State Government Securities (SGSs) [earlier called State Development Loans (SDLs)]
  5. Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T)

How to invest under Retail Direct Scheme?

The retail investor must open a Retail Direct Gilt (RDG) Account with RBI at  https://rbiretaildirect.org.in/#/

Who can open RDG Account?

For opening and maintaining a RDG Account, a retail investor needs the following –

  1. Rupee savings bank account maintained in India
  2. Permanent Account Number (PAN) issued by Income Tax Department
  3. Any Officially Valid Document (OVD) for KYC purpose
  4. Valid email id
  5. Registered mobile number

Non-Resident retail investors who are eligible to invest in Government Securities under the FEMA, 1999 are eligible to open RDG Account.

RDG Account can be opened singly / jointly with another retail investor who meets the eligibility criteria. 

An individual can open only one RDG Account. The second holder in a joint RDG Account may also open an individual RDG Account.

What are other features of RDG Account?

  1. Payments can be made through net-banking / UPI facility from the linked bank account.
  2. Securities held in RDG Account will be available for pledge / lien.
  3. Retail Direct Investors will have an online facility to gift government securities to other Retail Direct Investors.
  4. It is mandatory to provide nomination details for the RDG Account. An investor can nominate up to 2 persons who are eligible to invest in government securities.

What are the charges for maintaining RDG Account?

  1. No fee charged for opening and maintaining RDG Account.
  2. No fee charged for submitting bids in the primary auctions.
  3. Fee for payment gateway etc., as applicable, will be borne by the investor.

Whom to contact for any queries and complaints related to Retail Direct Scheme?

  1. Toll free phone number: 1800 267 7955 (between 9 am to 7 pm on any working day).
  2. E-mail id: support@rbiretaildirect.org.in
  3. Raise a request on the Retail Direct portal https://rbiretaildirect.org.in/#/.

What are the other methods for accessing the Retail Direct portal?

RBI has launched the Retail Direct Mobile App to provide retail investors a seamless and convenient access to the retail direct platform and provide ease of transacting in government securities (G-Secs). The mobile app can be downloaded from the Play Store for Android users and App Store for iOS users.


References

Reserve Bank of India. (2021, November 12). 'FAQ-Retail Direct Scheme'. Retrieved from https://www.rbi.org.in/Scripts/FAQView.aspx?Id=145

Reserve Bank of India. (2021, November 12). 'RBI Retail Direct Scheme'. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52548 and https://rbidocs.rbi.org.in/rdocs/content/pdfs/RBIRDS151121_AN.pdf

Reserve Bank of India. (2023, October 23). 'Subscription to Floating Rate Savings Bonds, 2020 (Taxable) through RBI Retail Direct Portal'. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=56614

Reserve Bank of India. (2024, May 28). 'Launch of PRAVAAH, RBI Retail Direct Mobile Application and FinTech Repository'. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57990


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