Retail investors can now invest in government securities through ATMs, IDBI Bank said Wednesday while announcing the launch of its G-Sec Investment Facility.
The bank in a statement said that it has “inaugurated the nation’s first of its kind ‘G-Sec Investment Facility through ATM for Retail Investors’ on March 15”.
The facility is unique and will provide easy access to retail investors to invest in government securities, it said.
“This furthers Bank’s contribution to promote and popularise retail participation in government securities in line with the Government and RBI’s efforts towards broad basing and expanding retail holding of Government Securities in the country”, it added.
The service was launched at the Bank’s ATM at Corporate Centre in Mumbai.
IDBI Bank said 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 retail customers of the Bank can register, one time, for this facility and invest in G-Sec through any of the Bank’s ATMs.