You can earn even by opening an account in RBI, RDG gives you a chance to earn a lot
After opening an RDG account, you can start investing in government securities. For this, securities or bonds are bought through bids placed by the Reserve Bank (RBI). For its purchase, money is deposited through UPI or net banking.
You must be wondering whether like State Bank, Punjab National Bank or Private ICICI Bank reserve Bank ,RBIWhether you can earn by opening an account or not. So know that like all these banks in the Reserve Bank, you can open an account and earn. For this, the Reserve Bank gives special facilities to the common investors. Reserve Bank retail direct gilt to common investorsRDS) provides. Under the Retail Direct Scheme, you can create a Retail Direct Gilt Account (Retail Direct Gilt AccountYou can invest in government securities by opening it. This will benefit you over time and the investment will also be safe.
There are certain rules for opening a retail direct gilt account with the Reserve Bank, which can be followed by investing in government securities. The person who wants to open RBI’s Retail Direct Gilt Account must have some or the other Rupee Savings Bank Account in India. It is necessary to have a PAN issued by the Income Tax Department. Must have KYC related documents and registered mobile number with valid email id. Retail Direct Gilt Account can be opened together or jointly.
Opening an RDG account gives the investor an opportunity to invest directly with the RBI. With the help of this account, investments are made in Treasury Bills or Sovereign Gold Bonds or securities issued by the State Governments. This account also gives an opportunity to connect with RBI’s trading system NDS OM. The interest earned from securities or bonds is directly transferred to the bank account linked to the RDG account.
How to Open RDG Account
For this, you have to go to the website of Reserve Bank and login to RBI Retail Direct. Here you have to give PAN, Rupee bank account, email and mobile number. After this, the online KYC process has to be completed. This account can be opened only by following the KYC rules prescribed by the Reserve Bank. After this the account is opened after KYC verification.
After opening an RDG account, you can start investing in government securities. For this, securities or bonds are bought through bids placed by the Reserve Bank. For its purchase, money is deposited through UPI or net banking. Current account account is created on the retail direct portal itself, in which UPI or net banking money is deposited. Your money is invested in securities or gold bonds. The interest earned from this is transferred to your Rupee account.
No fee is charged from the investor for opening a Retail Direct Gilt Account. There is also no charge for buying the bid, but he has to pay the fee for buying it through UPI or net banking. All the work related to this is looked after by the Clearing Corporation of India, which has been given the responsibility of RBI.