who can open
Retail investors can open an RDG account with the following:
- rupee bank account
- wok
- Valid document for KYC – PAN/Passport/Driving License/Aadhaar
- valid email id
- registered mobile number
RDG account can be opened individually as well as jointly with any other retail investor (individual) who fulfills the above criteria.
door
RDG account can be opened online by visiting the following link: https://www. rbirtaildirect.org.in/
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Process
The investor has to fill details like name, PAN, mobile number, email id, address and bank account details. OTP authentication of mobile number and email ID is done and a tracking number is allotted. Thereafter, the KYC verification process of the investor (all holders in case of joint accounts) is done and the bank account of the investor is also verified. Once the process is completed, an RDG account is opened in the name of the investor.
confirmation
The investor will receive an email confirmation with account number, login ID and password to access the online portal and avail the services of the portal.
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noteworthy
- The interest or maturity proceeds from the investment are directly credited to the investor’s bank account linked to the RDG account.
- No fee is charged for opening or maintaining an RDG account
RBI launches Retail Direct: How retail investors can invest in government securities
Prime Minister Narendra Modi on Friday launched the ‘RBI Retail Direct Scheme’ in the virtual meet. The scheme allows retail investors to buy and sell government bonds online. The Reserve Bank of India (RBI) announced this scheme in its February 2021 monetary policy. Watch
(Content on this page is courtesy of Center for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Aarti Bhargava and Labh Mehta.)