: PM Modi introduces two investment based RBI schemes #finance #StockMarketNEWS PM Modi introduces two investment based RBI schemes New Delhi, 12 Nov (KNN) Prime Minister Narenda Modi has launched two

PM Modi introduces two investment based RBI schemes #finance #StockMarketNEWS
PM Modi introduces two investment based RBI schemes New Delhi, 12 Nov (KNN) Prime Minister Narenda Modi has launched two innovative customer centric initiatives of RBI viz. Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme, here today via video conference.

The Union Minister of Finance and Corporate Affairs Nirmala Sitharaman and the Governor of the Reserve Bank of India Shaktikanta Das were also present at the event.

“This period of Amrit Mahotsav, this decade of the 21st century is very important for the development of the country. In such a situation, the role of RBI is also very big. I am confident that Team RBI will live up to the expectations of the country,” said the Prime Minister.

He said that these schemes will expand the scope of investment in the country and make access to capital markets easier, more secure for investors.

The Retail direct scheme will give small investors in the country a simple and safe medium of investment in government securities.

Similarly, One Nation, One Ombudsman System has taken shape in the banking sector with the Integrated Ombudsman Scheme today, he said.

He emphasized the citizen centric nature of these schemes.

The Prime Minister said that in the last 7 years, NPAs were identified with transparency, the focus was on resolution and recovery, Public Sector Banks were recapitalized, one after the other reforms were carried out in the financial system and public sector banks.

He added, to further strengthen the banking sector, cooperative banks were also brought under the purview of RBI. Due to this the governance of these banks is also improving and the trust in this system is getting stronger among the depositors, he added.

The Prime Minister said in the past few years, in the countrys banking sector reforms ranging from inclusion in the financial sector to technological integration have been carried out.

“We have seen their strength in this difficult time of Covid. The decisions of the RBI also helped in increasing the impact of the big decisions that the government has taken in recent times”, he said.