BIZ-NSE- S SEC
National Stock Exchange of India
(NSE) Monday launched a mobile application and web-based
platform for retail investors to buy government securities.
The new app - NSE goBID, was launched by Sebi chairman
The platform will allow retail investors to invest in
various government bonds from one year to almost 40 years.
"The launch of the app for investing in government
securities is an important milestone at a time when the
country is seeing a surge in digital payments. The retail
participation in government securities only started after Sebi
allowed exchanges to set up non-competitive bidding platforms
by exchanges," Tyagi said.
He said compared to fixed deposit returns offered by
banks, the government bonds are currently offering better
yields, and retail investors should get the opportunity to
earn higher returns.
The 10-year government bond yield is trading at
7.80-7.83 per cent.
He, however, said the participation of retail
investors in the government securities has been low, so far,
and there is a need to increase it through publicising
"We, on a regular basis, will review the progress (of
such platforms) and will try to co-ordinate with exchanges
to improve it further," Tyagi said.
The app will be available to all the registered
investors with NSE's trading members and will also facilitate
members to acquire new retail investors.
It will allow investors to make payments directly from
their bank accounts usingthe unified payments interface (UPI)
and internet banking.
The Union Budget 2016-17 had announced that RBI will
facilitate retail participation in the primary markets through
RBI conducts auction of G-sec and T-bills on a weekly
basis where 5 per cent of the notified amount is allotted for
eligible investors under the scheme for non-competitive
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)