The RBI has introduced a new mobile app for retail investors, allowing them to trade government securities easily using their smartphones.
This app is available for both Android and iOS users. Additionally, the RBI has launched the Pravah portal, simplifying the online application process for various regulatory approvals.
The central bank introduced these initiatives to encourage retail investors to take part in and enhance the Government Securities (G-Sec) market.
What are the benefits of the mobile app?
The new app from the RBI enables retail investors to purchase and sell government securities conveniently using their smartphones.
According to a statement from the Reserve Bank, investors will gain numerous benefits from this app.
It allows retail investors to buy government securities in primary auctions and trade them in the secondary market.
What is Pravah Portal?
The Pravah portal, launched alongside this app, will streamline various tasks for people, making them easier than before.
It will expedite processes related to regulatory approvals and clearances by the Reserve Bank.
The Pravah Portal serves as a platform for regulatory applications, validation, and authorization.
It allows users to apply for approval, licenses, or regulatory clearances related to the Reserve Bank.
Users can submit around 60 applications online through this platform, covering various regulatory and supervisory departments.
Know what are Government Securities?
What are government securities? Government securities are essentially papers issued by the Government of India and state governments to obtain loans from the market.
These papers serve as a basis for the government to borrow funds from the market and are backed by a government guarantee, making them a secure investment option often viewed as the safest.
