Prime Minister Narendra Modi is set to launch the Reserve Bank of India's (RBI) Retail Direct Scheme on November 12, allowing retail investors to open and maintain their government securities account (gilt accounts) with the central bank without any charges. The scheme was announced in the Statement of Developmental and Regulatory Policies in February for improving retail investors' online access to primary and secondary government securities market. RBI Governor Shaktikanta Das has called the scheme a “major structural reform. Investors will have also access to bidding in primary auctions as well as RBI's Negotiated Dealing System-Order Matching Segment (NDS-OM). The ‘RBI Retail Direct’ scheme is a one-stop solution to facilitate investment in Government Securities by individual investors. Under the scheme, retail investors (individuals) will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account) with RBI. Here's how the government could tax your crypto profits What's needed for opening RDG Account? For RDG Account account registration, retail investors will need a savings bank account in India, Permanent Account Number (PAN) issued by the Income Tax Department, any of the Officially Valid Documents (OVDs) for KYC, a valid email id, and a registered mobile number. Non-Resident retail investors are eligible to invest in Government Securities under Foreign Exchange Management Act, 1999 are eligible under the scheme. The RDG account can be opened singly or jointly with another retail investor who meets the eligibility criteria. Five years since demonetisation, Indian economy has more cash in circulation How to open RDG Account? Investors can register for the RDG Account by filling up the online form and use the OTP received on the registered mobile number and email id to authenticate and submit the form. RDG account holders will receive access details through SMS/e-mail. Payment can be made through net-banking/UPI facility from the linked bank account. Refund, if any, will be credited to the investor’s bank account as per the timelines specified by the aggregator.