Invest in Government Bonds Through ATM – IDBI Introduces New Facility….
State-owned IDBI Bank has introduced a first of its kind investment facility that allows a retail customer to invest in government bonds using the bank’s ATM.
The move is aimed at promoting and popularize retail participation in government securities in line with the government of India and RBI’s efforts towards broad basing and expanding retail holding of sovereign bonds in the country, IDBI said.
“The process of transacting in G-Sec through the ATM is very simple, convenient, transparent and cost-effective. The facility of investing in G-Sec through ATM is an extension of bank’s Samriddhi G-Sec Portal to enable retail investors to transact in government Securities, the bank said.
The retail customers of the bank can register, one time, for this facility and invest in G-Sec through any of the Bank’s ATMs.
Ninad Karpe, director, IDBI Bank, inaugurated the facility at the IDBI Bank’s ATM at Corporate Centre, Mumbai.