RBI retail direct

RBI Retail Direct is an online portal launched by the Reserve Bank of India in November 2021 that allows individual retail investors to directly purchase, hold, and sell Government of India securities — including treasury bills, dated government securities (G-Secs), Sovereign Gold Bonds (SGBs), and State Development Loans (SDLs) — without the need for a broker or intermediary. The platform is accessible at rbiretaildirect.org.in and requires registration with a Retail Direct Gilt account (RDG account) linked to the investor's bank account and verified PAN. Investors can participate in both primary market auctions (purchasing newly issued government securities at auction-determined yields) and secondary market trading (buying and selling existing government securities through NDS-OM's secondary market). The minimum investment amount for G-Sec auctions is ₹10,000 (one lot), making government securities accessible to retail investors for the first time without intermediary mark-ups. SGBs can also be purchased through primary subscription windows on the portal. RBI Retail Direct is particularly relevant for Indian conservative investors seeking risk-free government-backed returns higher than savings bank rates or fixed deposits — since G-Sec yields are typically 25 to 75 basis points above comparable bank FD rates — with complete capital safety backed by the sovereign guarantee of the Government of India.