ARTICLE · 19 APRIL 2024

AKP Banking & Finance Digest- April 15, 2024

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The Reserve Bank of India ("RBI") Governor Shri Shaktikanta Das announced plans for a mobile app facilitating access to the retail direct scheme...

IndiaFinance and Banking

1. Regulatory Updates

1.1. India

1.1.1. RBI to launch a mobile app for retail direct scheme, enhancing access to government securities market

The Reserve Bank of India ("RBI") Governor Shri Shaktikanta Das announced plans for a mobile app facilitating access to the retail direct scheme, aiming to engage retail investors in the government securities ("G-sec") market. This initiative, outlined in the monetary policy statement, aims to boost convenience for retail investors and deepen the G-sec market. Currently, retail investors can access various financial instruments through the retail direct portal. The app's introduction is expected to improve transparency and streamline processes. While some see it as a positive step towards a fairer G-sec market, others are concerned about potential disruptions and challenges for market intermediaries. Business Standard

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