Get Started with ixamBee
Start learning 50% faster. Sign in now
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.
Scheme A provides an interest rate of R% compounded annually, while Scheme B offers simple interest at the same rate. Anoop has invested Rs. 1200 in bo...
Jeeva invested Rs. 30,000 at a compound interest rate of 24% per annum, compounded annually, for 2 years. After these two years, she decided to utilize ...
Suresh earned an interest of Rs. 1677 on principal amount of Rs. 5200 at some rate of compound interest in 2 years. How much more/less interest would he...
Ravi lends Rs. 10,000 to two of his friends. He gives Rs.5,000 to the first at 15% p.a. simple interest. Ravi wants to make a profit of 20% on the whole...
Anil initiated his financial journey by investing Rs. 7500 in a Contra fund, which offered a simple interest rate of 18% per annum for a duration of 2 y...
The difference between compound and simple interest on a sum of money for 2 years at 4% per annum is Rs. 626. The sum is:
A person invested a total of Rs. 50,000 in two different schemes. One scheme offers simple interest of 8% p.a., and the other sch...
A shopkeeper marked an article ‘A’ 60% above the cost price and sold it for Rs. 2016 after giving a certain discount while he sold an articl...
Rs. 33000 was partly lent at 5% & remaining at 8% S.I. If total interest received from both was Rs. 6930 in 3 years. Then find the amount kept at 5%...
The difference between the interest received on a certain sum at the rate of 24% p.a. and 20% p.a. respectively at simple interest for two years is Rs. ...
