IDBI starts India's 1st G-Sec facility via ATMs

Posted on:17 Mar 2016 12:45:14
IDBI starts India's 1st G-Sec facility via ATMs
17 March 2016 Current Affairs: IDBI Bank customers can now invest in government bonds through the bank's automated teller machines.This is the first of its kind initiative for retail customers and could popularise debt investment as both the government and the Reserve Bank of India is trying to push retail participation in government bonds, which is negligible currently.IDBI already has a portal for retail investors, where the minimum size for investment is Rs 10,000.The facility of investing in G-Sec through ATM is an extension of Bank's Samriddhi G-Sec Portal to enable retail investors to transact in government securities. The retail customers of the Bank can register, one time, for this facility and invest in G-Sec through any of the Bank's ATMs.
IDBI Bank customers can now invest in government bonds through the bank's automated teller machines.This is the first of its kind initiative for retail customers and could popularise debt investment as both the government and the Reserve Bank of India is trying to push retail participation in government bonds, which is negligible currently.IDBI already has a portal for retail investors, where the minimum size for investment is Rs 10,000.The facility of investing in G-Sec through ATM is an extension of Bank's Samriddhi G-Sec Portal to enable retail investors to transact in government securities. The retail customers of the Bank can register, one time, for this facility and invest in G-Sec through any of the Bank's ATMs.

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