From UPSC perspective, the following things are important :
Prelims level : Integrated Ombudsman Scheme, RBI Retail Direct Scheme
Mains level : Not Much
The PM will launch two innovative customer-centric initiatives of the Reserve Bank of India.
What are the schemes?
[A] Integrated Ombudsman Scheme
- It aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI.
- The central theme of the scheme is based on ‘One Nation-One Ombudsman’ with one portal, one email and one address for the customers to lodge their complaints.
- There will be a single point of reference for customers to file their complaints, submit the documents, track status and provide feedback.
- A multi-lingual toll-free number will provide all relevant information on grievance redress and assistance for filing complaints.
[B] RBI Retail Direct Scheme
- It is aimed at enhancing access to government securities market for retail investors.
- It offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments.
- Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.