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PM Narendra Modi launches Retail Direct Scheme, Integrated Ombudsman Scheme of RBI

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Prime Minister Narendra Modi on Friday launched two innovative customer centric initiatives of the Reserve Bank of India (RBI) via video conferencing. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme. The event was attended by Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das.

Speaking at the launch PM Modi said: “The two schemes- the RBI Retail Direct Scheme and the Reserve Bank- Integrated Ombudsman Scheme- launched today will expand the scope of investment in the country and make access to capital markets easier and more secure for investors,” as quoted by ANI.

He further said that in the last 7 years, non-performing assets (NPAs) were recognized with transparency. The focus has been on resolution and multiple reforms were carried out in the financial system and public sector banks.

“With the RBI Retail Direct Scheme, small investors in the country have got a safe medium of investment in government securities. With Reserve Bank- Integrated Ombudsman Scheme, ‘One Nation, One Ombudsman System’ has taken shape in the banking sector today,” he added.

While, RBI Governor Shaktikanta Das said: “RBI has been leveraging technology and innovation for enhancing the efficiency of it services. RBI’s developmental role is focused on further deepening of financial inclusion and undertaking people centric initiatives.”

“With the Retail Direct Scheme, retail investors will be able to easily invest in the government securities market, so far only institutional investors were dominant,” the governor added.

He further said that through the Ombudsman, the confidence of the customers in the financial system will increase and the grievances of the customers will be resolved easily.

Dr. Ravi Singh, Head of Research & Vice President, ShareIndia

Speaking on the scheme, Dr Ravi Singh, Head of Research & Vice President, ShareIndia said, “The retail direct scheme offered by RBI is a good opportunity for retail investors to invest in government securities, sovereign bonds etc. It is the first time in India when retail investors will have an option of a simple and direct channel for investment in government securities. The government securities offer a low risk and low return on the investment as compared to investment in equity or asset.  We advise retail investors must diversify their investment and go for this advantage to have a better and safe return.”

It can be noted that the RBI Retail Direct Scheme 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.

The Reserve Bank – Integrated Ombudsman Scheme 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.

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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