Launch of Customer centric initiatives of RBI
Part of: Prelims and Mains GS-III: Economy
The schemes will expand the scope of investment in the country and make access to capital markets easier, more secure for investors.
Retail direct scheme has given small investors in the country a simple and safe medium of investment in government securities.
- Will give strength to the inclusion of everyone in the economy as it will bring in the middle class, employees, small businessmen and senior citizens with their small savings directly and securely in government securities.
- As Government securities have the provision of guaranteed settlement, this gives assurance of safety to the small investor
The Reserve Bank – Integrated Ombudsman Scheme
- One Nation, One Ombudsman System has taken shape in the banking sector with the Integrated Ombudsman Scheme
- One of the biggest touchstones of any democracy is the strength of its grievance redressal system. The Integrated Ombudsman Scheme will go a long way in that direction.
News Source: PIB