Patna: IDBI Bank on Monday launched the country's first online G-Sec portal 'Samriddi' to enable retailers to purchase government bonds and securities for high yield.
Pursuant to RBI's desire that government bonds and securities should be made a popular mode of investment for retailers, the bank has taken the lead and launched the Samriddhi G-Sec portal for the purpose, IDBI Executive Director R K Bansal told reporters here.
A retailer can log on to the portal and register with it for online purchase of government bonds and securities for high annualized yield, he said.
Observing that retail investors' participation in government bonds and securities were much lower in India than countries like Japan, Mexico and Argentina, he said IDBI Bank will launch a series of awareness programmes to attract the retail investors.
Bansal said retail investors money was safe in government securities and bonds as there was a sovereign guarantee to the financial instrument and there will be no TDS on sale of such securities and bond upon redemption.