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UPI & Sovereign Green Bonds (SGrBs) UPSC NOTE

 

  • 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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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: UPI & Sovereign Green Bonds (SGrBs) UPSC NOTE
UPI & Sovereign Green Bonds (SGrBs) UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
https://www.learnerz.in/2024/04/upi-sovereign-green-bonds-sgrbs-upsc.html
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