RBI launches app for retail investors, now this work becomes easy
The Reserve Bank of India (RBI) on Tuesday took several steps to make things easier for retail investors and others. Under this, a mobile app has been released for retail investors to participate in government securities. Through the mobile app, retail investors can now buy and sell government securities using the mobile app on their smartphones.
What did RBI say?
A statement from the Reserve Bank said — Through this app, retail investors can now buy and sell government securities using the mobile app on their smartphones. The mobile app can be downloaded from ‘Play Store’ for Android users and ‘App Store’ for iOS users. At present, the ‘Retail Direct’ portal facilitates retail investors to open retail direct government securities accounts with the Reserve Bank of India. This facility has been provided under the Retail Direct Scheme. The portal was launched in November, 2021. It allows retail investors to buy government securities in the primary auction as well as buy and sell them in the secondary market.
PRAVAAH Portal Launch
Additionally, PRAVAAH portal has been launched for any individual or entity to apply online for various regulatory approvals in a simplified manner. This portal will facilitate various processes related to granting regulatory approvals by the Reserve Bank. PRAVAAH (Platform for Regulatory Applications, Verification and Approvals) portal is secure and centralized web-based platform. It is a platform for any person or entity to obtain clearance, license or regulatory approval in matters related to the Reserve Bank.
Apart from this, RBI has launched ‘Fintech Repository’ initiative. This third initiative, launched by Governor Shaktikanta Das, aims to store data of fintech companies for better understanding of the sector from a regulatory perspective and facilitate formulation of appropriate policy approaches.
