Question
Consider the following Statements and choose the option
with correct Statement. I- Retail investors (individuals) will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account) with RBI under the Retail Direct Scheme. II- Non-Resident retail investors are not eligible to invest in Government Securities under the Retail Direct Scheme. III- The RDG account can be opened singly or jointly with another retail investor who meets the eligibility criteria.Solution
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.
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