RBI Retail Direct Scheme 2026 is a central government investment facility that allows individual investors to buy and sell government securities directly through an online portal operated by Reserve Bank of India. The facility was announced in the Statement of Developmental and Regulatory Policies dated 5 February 2021 and the scheme was launched on 12 November 2021. Registration on the official portal is open for retail investors throughout the year.
Under this scheme, retail investors can open a Retail Direct Gilt (RDG) account with RBI and take part in the primary as well as secondary market for government securities. The portal also gives access to Treasury Bills, dated government securities, State Development Loans and Sovereign Gold Bonds (SGBs).
What is RBI Retail Direct Scheme 2026
RBI Retail Direct Scheme is a single portal for individual investors who want to invest in government securities without going through a broker or intermediary. Investors can open and maintain a Retail Direct Gilt account with RBI free of cost and use the same account for primary market bids and secondary market trades.
Government securities are considered low risk because they carry no credit risk in the domestic market. The yield curve for government securities extends up to 40 years, which makes them a useful option for long term savings. Investors can also earn capital gains when interest rates moderate, though market risks remain if securities are sold before maturity.
Individual investors, including non-resident Indians eligible under the Foreign Exchange Management Act, 1999, can open an RDG account. An individual can open only one RDG account, and it can be held singly or jointly with another eligible retail investor.
| Detail | Information |
|---|---|
| Scheme Name | RBI Retail Direct Scheme |
| Launched By | Reserve Bank of India |
| Announced On | 5 February 2021 |
| Launched On | 12 November 2021 |
| Beneficiaries | Individual retail investors and eligible NRIs |
| Minimum Investment | ₹10,000 for T-Bills, dated G-Sec and SDLs; 1 gram for SGB |
| Application Mode | Online |
| Official Website | rbiretaildirect.in |
Scope of RBI Retail Direct Scheme
RBI Retail Direct gives retail investors the following facilities through a single online portal:
- Retail Direct Gilt account - Investors can open and maintain an RDG account with RBI free of cost and use it for all transactions under the scheme.
- Primary market access - Registered investors can place non-competitive bids in primary auctions of Treasury Bills, dated government securities and State Development Loans.
- Secondary market access - Investors can buy and sell government securities on NDS-OM through the odd lot and Request for Quotes segments.
- Sovereign Gold Bonds - The portal allows buying and selling of SGBs in the primary and secondary market. For SGB details, check the Sovereign Gold Bond Scheme 2026 FAQ.
Eligibility for RBI Retail Direct Scheme
Retail investors can register under the scheme and maintain an RDG account if they meet the following conditions:
- Rupee savings bank account - A savings bank account maintained in India is required to link with the RDG account for fund settlement.
- PAN card - Permanent Account Number issued by the Income Tax Department is mandatory.
- KYC document - Any Officially Valid Document (OVD) such as Aadhaar, passport, voter ID or driving licence is needed for KYC verification.
- Valid email id and mobile number - A valid email id and registered mobile number are required for OTP based authentication and account alerts.
Non-resident retail investors eligible to invest in government securities under the Foreign Exchange Management Act, 1999 can also open an RDG account. The account can be opened singly or jointly with another retail investor who meets the eligibility criteria. KYC verification is done through CKYC or video KYC, and nomination details are required at the time of account opening.
RBI Retail Direct Scheme Online Registration Procedure
Registration for RBI Retail Direct Scheme is done fully online through the official portal. The steps are given below.
STEP 1 - Go to the RBI Retail Direct official portal and click on the registration link to begin the account opening process.
STEP 2 - Fill in the online registration form with details like full name, PAN, mobile number, email address, residential address and savings bank account number. Choose a login name for the portal.
STEP 3 - Authenticate the mobile number and email address using the OTP received on both. For joint accounts, PAN, email id and phone number of both holders are required.
STEP 4 - Complete the KYC verification through CKYC or video KYC. Upload the scanned copy of signature, bank account details and nominee details as asked on the portal.
STEP 5 - Link the savings bank account by uploading a cancelled cheque or entering the account details manually. The system will credit a token amount to the account and verify the same to complete the linking.
STEP 6 - Once KYC is successful, the RDG account is opened and the account number, login id and password are sent to the registered email id. A reference number is also given to track the application.
How to Buy Government Securities
Investors can buy government securities in two ways. The first way is to place a bid in the primary auctions of dated G-Sec, T-Bills and SDLs through the non-competitive segment, where only the bid amount is entered without any price. The second way is to place a buy order in the secondary market portal.
For primary auction bids, only one final bid per security is allowed in each auction. The amount payable is based on the indicative price, accrued interest and a markup. The markup is refundable and any excess amount is credited back to the linked bank account within two business days from the date of auction. Payment can be made through net banking or UPI from the linked bank account.
For secondary market purchases, funds can be transferred to the designated account of CCIL using net banking or UPI before placing the buy order. Securities purchased are credited to the RDG account on the settlement date, which is normally one working day after the trade date. The maximum investment for dated G-Sec is ₹2 crore face value per security per auction, while an individual can subscribe to up to 4 kg of SGBs per fiscal year.
How to Sell Government Securities
Investors can sell government securities by placing an offer order in the secondary market portal. The security must be available in the RDG account before a sell order is placed, and the securities are blocked at the time of placing the order till settlement of the trade.
Funds from sale transactions are credited to the linked bank account on the settlement day. Transfers permitted under the Value Free Transfer (VFT) guidelines issued by RBI on 16 November 2018, as amended regularly, are available under the scheme. Investors need to submit an application on the online portal for such transfers.
Investor Services
Registered investors can use the online portal for the following services:
- Account statement - Transaction history and balance position of securities holdings can be obtained from the portal. All transaction alerts are sent through email and SMS.
- Nomination facility - Up to two nominees can be registered. In case of death of the investor, securities in the RDG account can be transmitted to the nominee on submission of death certificate and transmission form.
- Pledge and lien - Securities held in the RDG account can be pledged or kept under lien.
- Gift transactions - Investors can gift government securities online to another eligible Retail Direct investor.
- Complaint help - Queries and grievances related to the scheme can be raised on the portal and are handled by Public Debt Office (PDO) Mumbai, RBI.
Contact and Support
Investors can contact the Retail Direct support team through the toll free number 1800 267 7955 between 9 am and 7 pm on working days, or write to support@rbiretaildirect.org.in. Queries can also be raised directly on the portal. No fee is charged for opening and maintaining the RDG account, and no fee is charged by RBI for submitting bids in primary auctions. Payment gateway charges, if any, are borne by the investor. For more details, see the RBI Retail Direct Scheme FAQ page.
FAQ's
What is the minimum investment under RBI Retail Direct Scheme?
The minimum investment is ₹10,000 for Treasury Bills, dated government securities and State Development Loans. For Sovereign Gold Bonds, the minimum investment is one gram of gold.
Can an NRI open a Retail Direct Gilt account?
Yes, non-resident retail investors who are eligible to invest in government securities under the Foreign Exchange Management Act, 1999 can open an RDG account.
Is there any fee for opening an RDG account?
No. The RDG account can be opened and maintained with RBI free of cost. RBI also does not charge any fee for submitting bids in primary auctions.
How many RDG accounts can an individual open?
An individual can open only one RDG account. The second holder in a joint RDG account may also open an individual RDG account.