With the launch of IDBI’s G-Sec Portal, retail investors will have the opportunity to easily invest in Government securities, which are basically bonds issued by the Central and the State Government. The portal will become operation from 17 January 2012. A large gathering of HNIs (high net worth individuals) and senior officials from co-operative Banks were present at the function in which the portal was launched. Senior officials from RBI were also present.
Melwyn Rego, executive director, IDBI, said, “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.”