IDBI Bank Ltd. has launched India's first online retail G-Sec Portal. This Portal provides an opportunity for retail investors to invest in Government securities, as an attractive alternative investment avenue. Government Securities are bonds issued, both by Central and State Government. IDBI Bank organized a function to launch the portal which has been christened "IDBI Samriddhi G-Sec Portal". This Portal will become operational from January 17, 2012.
The function to launch the Portal was attended by a large gathering of HNIs and senior officials from Co-operative Banks. The launch of the Portal was done in the presence of senior officials of RBI.
RBI during various policy pronouncements has been emphasizing the need for banks to take necessary steps for providing the infrastructure for retail investors to make investments in Government bonds. Shri Melwyn Rego, Executive Director, IDBI Bank Ltd., mentioned that, "IDBI Bank has been a pioneer in introducing a number of new financial products and services. The launch of the IDBI Samriddhi G-Sec Portal is one more such pioneering initiative. Retail investors having access to the internet and a Demat account can now freely buy and sell Government Bonds at the click of a button through IDBI Bank's website, thereby making the entire transaction transparent and a seamless process. This initiative by IDBI Bank is the first organized effort to channelize retail savings into Government bonds through a dedicated Portal. Retail investors thus get a rewarding opportunity to participate in the India Growth Story."
