The RBI Retail Direct Scheme and the Reserve Bank Integrated Ombudsman Scheme are the two schemes, according to a press statement from the PMO.
The RBI’s Individual Direct Scheme, for example, aims to improve retail investors’ access to the government securities market. It gives customers a new way to invest directly in securities issued by the Indian government and state governments.
The PMO said, “Investors would be able to conveniently create and manage their government securities account with the RBI online at no cost.”
The Reserve Bank’s Integrated Ombudsman Scheme intends to strengthen the grievance resolution system for consumer complaints against RBI-regulated firms.
“The scheme’s fundamental idea is ‘One Nation-One Ombudsman,’ with one site, one email, and one address for consumers to make complaints.” Customers will be able to make grievances, provide documents, monitor progress, and offer comments via a single point of contact. According to the statement, “a multilingual toll-free hotline will give all pertinent information on grievance settlement and support for registering complaints.”
Source: Business Standard