Picture : Twitter / ANI
Prime Minister Narendra Modi has launched two customer-centric initiatives of the Reserve Bank of India (RBI). The RBI Retail direct scheme and the integrated ombudsman scheme are aimed at deepening the debt market and improve customer grievance redressal mechanism.
The two schemes will expand the scope of investment in the country and make access to capital markets easier and more secure for investors, said PM Modi.
With the RBI Retail Direct Scheme, small investors in the country have got a safe medium of investment in government securities. With Reserve Bank- Integrated Ombudsman Scheme, ‘One Nation, One Ombudsman System’ has taken shape in the banking sector today.
“In the last 7 years, non-performing assets (NPAs) were recognized with transparency. The focus has been on resolution; multiple reforms were carried out in the financial system and public sector banks,” PM Modi said.
