- Equitas Holdings, the promoter of Equitas Small Finance Bank (SFB), on Saturday said the bank has received Reserve Bank of India’s (RBI) nod to apply for amalgamation of the promoter into itself.
- As per the SFB licensing guidelines of RBI, a promoter of SFB can exit or to cease to be a promoter after the mandatory initial lock-in period of five years (initial promoter lock-in) depending on RBI’s regulatory and supervisory comfort and SEBI regulations at that time.
- The Reserve Bank on Monday issued a scheme ‘RBI Retail Direct’, a one-stop solution to facilitate investment in government securities by individual investors.
- No fee will be charged for opening and maintaining ‘Retail Direct Gilt account’ with the RBI. However, fee for payment gateway, as applicable, will be borne by the registered investor.
- As part of continuing efforts to increase retail participation in government securities, ‘the RBI Retail Direct’ facility was announced in February 2021 for improving ease of access by retail investors through online access to the government securities market – both primary and secondary – along with the facility to open their gilt securities account (‘Retail Direct’) with the RBI.
- “Retail investors (individuals) will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account) with RBI,” the central bank said, adding that the account can be opened through an ‘Online portal’ provided for the purpose of the scheme.
Source : freepressjournal.com