RBI Retail Direct: A look inside – how to register and what you can buy/sell

Published: November 21, 2021 at 7:00 am

Last Updated on December 29, 2021

Here is a look inside RBI Retail Direct. This facility allows retail investors to open gilt security account with the RBI and purchase government securities (gilt bonds or gilts) in the primary and secondary market without a fee.

We have already discussed in detail who should use  RBI Retail Direct and who should not. Please note that I opened an account only out of curiosity and for this article and will not be using it.

The onboarding process is super smooth for those whose KYC particulars are already available in the CKYC repository and takes only about 20 minutes.

How to get an RBI Retail Direct account

  1. The portal website is: https://www.rbiretaildirect.org.in/
  2. Start from https://rbiretaildirect.in/#/rdg-account-registration
  3. Verify your email and mobile via independent OTPs (In case of joint accounts, all steps have to be completed for each holder)
  4. If your KYC details are in place, the system will retrieve your details using PAN number and DOB. Offline KYC verification is also possible.
  5. You will need to upload a photo of your signature.
  6. A photo of a cancelled bank cheque for bank verification is optional but recommended.
  7. Nomination details can able be entered.
  8. A detailed PDF document of terms and conditions and your KYC details will be sent to your email. This will need to be verified via Aadhaar-based OTP for each holder.
  9. Your login details will then be emailed to you.
  10. To buy and sell bonds in the secondary market, you will need to request access via the RBI retail direct primary market dashboard. This is the URL for the secondary market https://retail.ndsom.com/. After approval, I think one may be able to access this from the main dashboard also. Please note: buying and selling bonds in the secondary market is extremely risky and should be avoided.

RBI Retail Direct Screenshots

This is the registration page.

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Screenshot of RBI Retail Direct Investor Registration page
Screenshot of RBI Retail Direct Investor Registration page

This is the main dashboard. The green button on the top bar is the link to request secondary market access. Details of the bond available for bidding up to 7 AM on 23rd Nov is listed. See table and CSV file linked below for details.

Screenshot of RBI Retail Direct primary market dashboard
Screenshot of RBI Retail Direct primary market dashboard

The investor services tab.

Screenshot of RBI Retail Direct investor services dashboard
Screenshot of RBI Retail Direct investor services dashboard

What can you buy and sell at RBI Retail Direct

  1. RBI Bonds
  2. Gilt Bonds
  3. State Govt Bonds
  4. Sov Gold Bonds

These are the bond available for bidding at the time of writing.

MaturityIssuerIndicative Yield (%)
25-May-41Tamil Nadu6.92%
24-Nov-30Himachal Pradesh6.90%
24-Nov-33Himachal Pradesh6.92%
24-Nov-31Himachal Pradesh6.90%
24-Nov-31West Bengal7.00%
24-Nov-32Himachal Pradesh6.91%

More details can be obtained here (downloaded from the portal).

In summary, the RBI has done an excellent job in putting together RBI Retail Direct. The onboarding process is smooth, secure and efficient. Those who need regular income as supplementary pension or as part of a retirement bucket strategy can consider utilizing the portal. Also, see Income Ladder Calculator.

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