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PM Modi To Launch Retail Direct & Integrated Ombudsman Schemes On Friday — Know Details


New Delhi: Prime Minister Narendra Modi will launch two innovative customer-centric initiatives of the Reserve Bank of India (RBI), the Retail Direct Scheme, and the Reserve Bank – Integrated Ombudsman Scheme on Friday, November 12, via video conferencing at 11 AM. 

The video conference will be attended by Union Finance Minister, Nirmala Sitharaman and RBI Governor Shaktikanta Das. The virtual event is notified under RBI’s public awareness initiative. 

According to a statement by the Prime Minister Office (PMO), the RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors. 

The scheme offers a new avenue for directly investing in securities issued by the Government of India and the State Governments. The investors will be able to easily open and maintain their government securities account online with the RBI without any cost.

The other initiative, Reserve Bank – Integrated Ombudsman Scheme aims to improve the grievance redress mechanism for resolving customer complaints regarding RBI regulated entities.

According to the PMO statement, the central theme of the scheme is based on ‘One Nation-One Ombudsman’ with one portal, one email, and one address for the customers to lodge their complaints.

There will be a single point of reference for customers to file complaints, track the status of their complaints, and submit the documents and feedback. 

For improved accessibility, a multi-lingual toll-free number will be provided on the portal which will provide all relevant information, all information on grievance redress, and assistance for filing complaints.


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