MUMBAI (CU)_Earlier this year, the Reserve Bank of India (RBI) floated the idea for a “major structural reform” which was expected to potentially complement and even challenge bank savings and debt mutual funds. In its February 2021 monetary policy, the central bank proposed the launching of what is known as a ‘retail direct’ platform, through which an individual investor can directly invest in government securities without a fund manager or any fees. The significance of this is that every government security is a guaranteed settlement, which provides investors with assurance and good returns.
Accordingly, on Friday (12 Nov), India became the third country in the world, after…
