Mumbai, 2018: National Stock Exchange of India Ltd (NSE), India’s leading stock exchange today announced the launch of its new mobile app and web-based platform ‘NSE goBID’ for retail investors to buy government securities. Shri Ajay Tyagi, Chairman SEBI launched the new App at an event held in Mumbai today.
The ‘NSE goBID’ App will be available to all the registered investors with NSE’s trading members and will also facilitate trading members in acquiring new retail investors. It will allow retail investors to make payment directly from their bank accounts using the Unified Payments Interface (UPI) and internet banking. While retail investors will benefit from a convenient payment option, its cost effectiveness will appeal to Trading Members of NSE as the cost associated for setting-up infrastructure is much lower than the existing platform. The ‘NSE goBID’ platform will handle order collection, payment and refund that is currently required to be managed by Trading Members.
Through this App, retail investors can invest in treasury bills (T-Bills) of 91 days, 182 days and 364 days and various government bonds from one year to almost 40 years. Investment can be done almost every week after a one-time registration.
Speaking on the occasion, Shri Ajay Tyagi, Chairman, SEBI, said “The launch of ‘NSE goBID’ a Web/Mobile App for investing in government securities is an important milestone at a time when India is seeing surge in digital payments. It is necessary to extend this technology for improving the penetration of the capital markets. The retail participation in government securities only started after SEBI allowed exchanges to set up non-competitive bidding platforms by exchanges.”
Investments in Government Securities are one of the safer investment options available to retail investors. Government Securities are credit risk free instruments, provide portfolio diversification and are available for longer investment durations.
Retail participation in the Government Securities market will help in broad basing Government borrowing program. Retail participants will gain familiarity with fixed income products which could help in increasing participation levels in corporate bond market also. One client of HDFC Securities Ltd. placed the first bid through “NSE goBID” mobile app.
NSE’s wider presence & reach through its members along with investor awareness & education initiatives will bring higher participation by retail in this asset class.