Informist, Monday, Oct 23, 2023

MUMBAI – The Reserve Bank of India expanded the scope of the central bank's retail direct scheme to enable subscriptions of floating rate saving bonds, 2020 (taxable), it said in a press release today. 

Floating rate bonds are interest-bearing and non-tradeable bonds issued by the government and are repayable on the expiration of seven years from the date of issue. 

Currently, retail investors can invest in central government securities, treasury bills, state government securities, and sovereign gold bonds through the retail direct portal.

The retail direct scheme was launched by Prime Minister Narendra Modi on Nov 12, 2021. Under the scheme, individual investors can open a retail direct gilt account with the RBI. Through the portal, investments in government securities can be made in primary and secondary market.  End

Reported by Anupreksha Jain

Edited by Akul Nishant Akhoury

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