Retail investors can now transact in G-Secs using the mobile app on their smartphones.
The Reserve Bank of India has launched the mobile app which can be downloaded from the Play Store for Android users and App Store for iOS users.
Earlier, the retail direct website was launched in November 2021 to facilitate retail investors to open their Retail Direct Gilt accounts with the Reserve Bank of India under the Retail Direct Scheme. The scheme allows retail investors to buy G-Secs in the primary auctions as well as buy and sell GSecs in the secondary market.
The RBI also launched ‘PRAVAAH’, which is a secure and centralised web-based portal for any individual or entity to seek authorisation, licence or regulatory approval on any reference made by it to the Reserve Bank.
At present, 60 application forms covering different regulatory and supervisory departments of RBI have been made available on the portal. This also includes a general-purpose form for applicants to submit their requests which are not included in any other application form. More application forms would be made available as may be required.
FinTecch repository
It has also launched the FinTech Repository to capture essential information about fintech entities, their activities, technology uses, etc.
Simultaneously, a related repository for only RBI regulated entities (banks and NBFCs) on their adoption of emerging technologies (like AI, ML, Cloud Computing, DLT, Quantum, etc.), called EmTech Repository is also being launched.
“The FinTech and EmTech Repositories are secure web-based applications and are managed by the Reserve Bank Innovation Hub (RBIH), a wholly owned subsidiary of RBI. The repository would enable availability of aggregate sectoral level data, trends, analytics, etc., that would be useful for both policymakers and participating industry members. Reserve Bank of India encourages the fintechs and regulated entities to actively contribute to the repositories,” RBI said.