Given the popularity and acceptance of UPI, and also the benefits seen from the availability of UPI for card-less cash withdrawal at ATMs, Reserve Bank of India (RBI) now proposed to facilitate cash deposit facility through the use of UPI
Cash Deposit Machines (CDMs) deployed by banks enhance customer convenience while reducing cash-handling load on bank branches
The facility of cash deposit is presently available only through the use of debit cards.
The operational instructions on enabling UPI for cash deposit facility will be issued shortly according to RBI
To facilitate wider non-resident participation in Sovereign Green Bonds (SGrBs), the RBI decided to permit eligible foreign investors in the International Financial Services Centre (IFSC) also to invest in such bonds.
A scheme for investment and trading in SGrBs by eligible foreign investors in IFSC is being notified separately in consultation with the Government and the IFSC Authority.
At present, foreign portfolio investors (FPIs) registered with SEBI are permitted to invest in SGrBs under different routes available for investment by FPIs in government securities.
The RBI also decided to introduce a mobile app for its Retail Direct scheme, introduced in November 2021.
The scheme gives access to individual investors to maintain gilt accounts with RBI and invest in government securities.
The scheme enables investors to buy securities in primary auctions and buy/sell securities through the NDS-OM (Negotiated Dealing System - Order Matching ) platform
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