The Reserve Bank of India (RBI) on October 23, 2023, issued a notification regarding Subscription to Floating Rate Savings Bonds, 2020 (Taxable) through RBI Retail Direct Portal.
The RBI-Retail Direct Scheme, initiated by the Hon'ble Prime Minister on November 12, 2021, empowers individual investors to establish Retail Direct Gilt accounts with the Reserve Bank of India, using an online portal. This platform facilitates investments in Government Securities in both the primary and secondary markets, making Government Securities easily accessible to retail investors by streamlining the investment process.
At present, retail investors have the opportunity to invest in a range of financial instruments through the Retail Direct Portal. This includes Central Government Securities, Treasury Bills, State Government Securities, and Sovereign Gold Bonds. As part of its ongoing efforts to diversify the array of products offered through the Retail Direct Portal, the Reserve Bank of India, in collaboration with the Government of India, has enabled the subscription to Floating Rate Savings Bonds, 2020 (Taxable) - FRSB 2020 (T). These FRSBs are interest-bearing, non-negotiable bonds issued by the Government of India and are redeemable after seven years from the date of issue.
