IDBI Bank has introduced ‘G-Sec investment facility through ATMs for retail investors’. Ninad Karpe, director of the bank inaugurated the facility, claimed to be the first of its kind in India. The facility provides easy access to retail investors to invest in government securities. The bank said in a statement that this furthers the bank’s contribution to promote 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 government securities. The process of transacting in G-Sec through the ATM is very simple, convenient, transparent and cost-effective, it added. The facility is an extension of bank’s Samriddhi G-Sec portal to enable retail investors to transact in government securities. Kishor Kharat, MD & CEO, B. K. Batra, DMD, other directors and senior officers of the bank were present on the occasion.
