IDBI Bank launches India's first online retail G-Sec Portal
3.2.2012 (UNI) State-owned IDBI Bank today announced the launch of country's first online retail Government Securities (G-Sec) Portal-- IDBI Samriddhi G-Sec Portal.
'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,' IDBI Bank Executive Director Melwyn Rego said in a statement here.
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, Mr Rego added.
This initiative by IDBI Bank is the first organised effort to channelize retail savings into Government bonds through a dedicated Portal, he added.
Government Securities are bonds issued both by Central and State Governments.
In order to make the investors aware about the attractiveness of investment in Government securities and the newly launched Portal, the Bank has conducted an Investor Awareness Conference in the national capital here.
Reserve Bank of India (RBI) during various policy pronouncements has been emphasising the need for banks to take necessary steps for providing the infrastructure for retail investors to make investments in Government bonds. UNI