Subscription to Floating Rate Savings Bonds, 2020 (Taxable) through RBI Retail Direct Portal- (Reserve Bank of India) (23 Oct 2023)

MANU/RPRL/0652/2023

Banking

RBI-Retail Direct Scheme was launched by the Hon'ble Prime Minister on November 12, 2021. Under the Scheme, individual investors are permitted to open Retail Direct Gilt account with the Reserve Bank of India, using an online portal (https://rbiretaildirect.org.in), through which investments in Government Securities can be made in primary and secondary market. The scheme has brought Government Securities within easy reach of retail investors by simplifying the process of investment.

Currently, retail investors can invest in Central Government Securities, Treasury Bills, State Government Securities and Sovereign Gold Bonds through the Retail Direct Portal. In its endeavour to expand the basket of products offered through the Retail Direct Portal, Reserve Bank of India, in consultation with the Government of India, has enabled subscription to Floating Rate Savings Bonds, 2020 (Taxable) - FRSB 2020 (T). FRSBs are interest bearing, non-tradeable bonds, issued by Government of India, which are repayable on the expiration of seven years from the date of issue. Further details about FRSB 2020 (T) can be accessed at Government of India Notification No.F.No.4(10)-B(W&M)/2020 dated June 26, 2020.

Tags : SUBSCRIPTION FLOATING RATE SAVINGS BONDS