New Register for Workshop on How to start for NABARD 2025 (Stepwise Plan) - Apr 26, 7 PM

    Question

    Which category of Non-Resident retail investors are

    eligible to invest in Government Securities through the RBI Retail Direct Scheme?
    A Who have spent at least 5 Years in India in the last 10 years Correct Answer Incorrect Answer
    B Who have spent at least 2 Years in India in the last 5 years Correct Answer Incorrect Answer
    C Who are eligible to invest in Government Securities under Foreign Exchange Management Act, 1999 Correct Answer Incorrect Answer
    D Who have at least 3 immediate relatives in India Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    RBI Retail Direct Scheme Launched on 12 November 2021 Objective: To facilitate investment in Government Securities by individual investors. Features/Scope: Retail investors (individuals) will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account) with RBI. RDG Account can be opened through an ‘Online portal’ provided for the purpose of the scheme. The ‘Online portal’ will also give the registered users the following facilities: Access to primary issuance of Government securities Access to NDS-OM. (NDS-OM means RBI’s screen based, anonymous electronic order matching system for trading in Government securities in the secondary market) Eligibility: Retail investors, as defined under the scheme, can register under the Scheme and maintain a RDG Account, if they have the following: 1.         Permanent Account Number (PAN) issued by the Income Tax Department; 2.         Access to primary issuance of Government securities 3.         Any officially valid document (OVD) for KYC purpose; 4.         Valid email id; and 5.         Registered mobile number Non-Resident retail investors eligible to invest in Government Securities under Foreign Exchange Management Act, 1999 are eligible under the scheme. The RDG account can be opened singly or jointly with another retail investor who meets the eligibility criteria.  

    Practice Next

    Relevant for Exams: