You will also be able to open an account with the Reserve Bank of India, you will have to buy government bonds, India becomes the first country in Asia to do so
The Reserve Bank of India has announced a system of opening its account directly with the central bank for the purchase of Government Securities (G-Sec) by offering it to small investors. G-Sec is colloquially known as Bond. RBI Governor Shaktikanta Das said that now retail investors will be able to buy government bonds directly through Retail Direct.With the introduction of this system, India has joined the select countries which give direct access to the purchase and sale of government securities. The central bank hopes that the move will expand the gilt market and the debt market in a big way in view of the government meeting its borrowing target of Rs 12 lakh crore in the next financial year.In this way, the RBI has opened up a huge and endless path of borrowing for the government, as is done in the domestic stock market right now. However, the difference is that it will be under the supervision of RBI. What is the situation at present Presently RBI allows small investo...