The Retail Direct Portal of the Reserve Bank of India (RBI) now permits individual investors to participate in Floating Rate Savings Bonds (FRBs), 2020 (Taxable), thereby diversifying its range of available products.
According to the Central Bank’s statement, “In its endeavour to expand the basket of products offered through the Retail Direct Portal, Reserve Bank of India, in consultation with the Government of India, has enabled subscription to Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T).”
Previously, retail investors could use the Retail Direct link to invest in central government securities, treasury bills, state government securities, and sovereign gold bonds.
Bond subscriptions will be accepted in cash (up to Rs 20,000 only), drafts/cheques, or any electronic manner.
It may be recalled that Prime Minister Narendra Modi launched the RBI-Retail Direct Scheme on 12 November 2021. Individual investors are allowed to register a Retail Direct Gilt account with the Reserve Bank of India through an online site, allowing them to invest in government securities in both the primary and secondary markets.
