Retail investors can buy Floating Rate Savings Bonds through RBI portal The Reserve Bank on Monday said retail investors can subscribe to Floating Rate Savings Bonds, 2020 (Taxable) through its Retail Direct portal. RBI-Retail Direct Scheme was launched by the Prime Minister on November 12, 2021. The scheme has brought government securities within easy reach of retail investors by simplifying the process of investment. “In its endeavour to expand the basket of products offered through the Retail Direct Portal, Reserve Bank of India, in consultation with the Government of India, has enabled subscription to Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T),” the central bank said in a statement. FRSBs are interest-bearing, non-tradeable bonds, issued by the central government, which are repayable on the expiration of seven years from the date of issue. Earlier, retail investors were allowed to invest in central government securities, treasury bills, state government securities and sovereign gold bonds through the Retail Direct portal.
The launched works involve rehabilitating the Galgamuwa Railway Station and upgrading the railway line from Maho to Anuradhapura, including additional tasks. Another project is the second phase of track rehabilitation from Maho to Omanthai (128 kms), funded by a $318 million Indian Line of Credit.
Transport Minister Gunawardena praised the efforts of Indian company IRCON in Sri Lanka and called for more cooperation in the railway sector. State Minister Shantha Bandara and officials from the Sri Lankan Ministry of Transport attended the event.
Railways is a priority for Indian assistance in Sri Lanka, with over $1 billion invested under five Indian Lines of Credit. IRCON has been involved in Sri Lanks since 2009. It has contributed to the modernisation of Sri Lanka Railways by reconstructing the entire railway line network in the Northern Province (253 Km) and upgradation of the Southern line (115 km), as well as improving safety through advanced signalling and telecommunication systems.
Despite Sri Lanka’s debt standstill in April 2022, India’s support under various Lines of Credit has continued.
(With PTI inputs)