How can NRIs invest in government bonds, how can they open an account in RBI?
If you are an NRI and want to invest in government bonds, then this process has become easy for you. Although this option has been available for the last two years many people are not aware of it. We are talking about a retail direct platform through which you can cooperate with brands like government securities and development loans.
If you want to invest in government bonds and are an NRI, then there is no need to worry because RBI has introduced the Retail Direct Platform. With its help, you can invest in government bonds.
With this, you will be able to easily invest in government bonds like government securities, development loans, or treasury bills. The great thing is that for this it is not necessary to be a resident of India. You can do this even if you are an NRI. Today we will tell you how this method works.
RBI launched the Retail Direct platform 2 years ago i.e. in 2021. With its help, you can invest easily by following some steps. RBI's platform is absolutely free and you will not have to pay any brokerage, commission, or any extra charge for it. You can directly open an account in it and start investing. ,
How to Open Retail Direct Portal:
- First of all, you have to go to the Retail Direct portal.
- After this click on the RDG Account Registration option and fill in all your information in the form.
- Now fill in the mobile number and email and verify by entering OTP.
- After this, you will be redirected to a new page, where you can check all the information again.
- After this, your application will be completed and you will get the number, after which you can initiate KYC.
- Now choose cKYC or Offline KYC as per your convenience.
- Enter the number for cKYC and verify the details. Now enter tax residency details and agree to PMLA and FTCA guidelines.
- After this upload your scanned signature in the given format.
- Now select your account and click on submit.
- After this, fill in the details of the nominee and after video KYC, the retail direct account will be started.
Required documents and limitations:
- If you want to invest in this then you will have to keep some things in mind. First of all, you have to know that being an NRI, you will have some limitations.
- You cannot invest in Investor Sovereign Gold Bonds or Floating Rate Bonds.
- Apart from this, you must have enrollment in the NRI Central KYC Registry. If this is not the case then you must have a mobile number linked to the Aadhar card.
- Apart from this, there should be an NRO savings bank account, which should have the facility of UPI or net banking.
- Apart from this, a scanned copy of the PAN card canceled check of NRO bank account, and signature are also required.
