Who launched 'RBI Retail Direct Scheme' and the 'Reserve Bank - Integrated Ombudsman Scheme' initiatives of the Reserve Bank of India, in November 2021?

Option 1 : Narendra Modi

The correct answer is Narendra Modi.

• PM Narendra Modi launched two innovative customer-centric initiatives of the Reserve Bank of India, on 12 November 2021.
• The two initiatives are the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.

• RBI Retail Direct Scheme:
  • The RBI Retail Direct Scheme will allow investors to easily open and maintain their government securities account online with the RBI.
  • This scheme offers a new avenue for directly investing in securities issued by both Centre and state governments. 
• RBI Integrated Ombudsman Scheme
  • This will help in improving the grievance redress mechanism for resolving customer complaints against RBI's regulated entities.
  • It will do away with the jurisdictional limitations as well as limited grounds for complaints.
  • The scheme is based on 'One Nation-One Ombudsman’ with one portal, one email, and one address for the customers to lodge their complaints.
  • Now, there will be a single point of reference for customers to file their complaints, submit the documents, track status, and provide feedback. 
  • Under this scheme, there will be a multi-lingual toll-free number will provide all relevant information on grievance redress and assistance for filing complaints.
  • The redressal will continue to be cost-free for customers of banks and members of the public.