What is RBI Retail Direct, the platform where you can soon start SIP in Treasury Bills?

The Reserve Bank of India (RBI) has decided to allow users to invest in Treasury Bills through systematic investment plans (SIPs) via its retail direct platform.

The Government issues these bills to meet short-term borrowing needs. Backed by the Government, Treasury Bills are considered to be one of the safest investment options.

"We are expanding the functionality in RBI Retail-Direct platform to enable retail investors to invest in treasury bills through systematic investment plans," RBI Governor Sanjay Malhotra said in his statement after the conclusion of the 3-day Monetary Policy Committee meeting on Wednesday (August 6, 2025).

The facility to start SIP in Treasury Bills on the Retail Direct platform is expected to be available soon. Before it begins, let's understand what the RBI Retail Direct is and what you can do currently on this platform.

What is RBI Retail Direct?

The RBI's Retail Direct platform aims to provide easy and online access to retail investors interested in both primary and secondary government securities markets.

The Retail Direct facility was first announced by the central bank in its 'Statement of Developmental and Regulatory Policies' dated February 5, 2021.

The Retail Direct platform serves as a one-stop solution to facilitate investments in Government securities by individual investors.

On this platform, individual investors can open and maintain 'Retail Direct Gilt Account (RDG Account) with the central bank.

What are the current investment options on retail Direct?

Through the Retail Direct website, investors can access primary issuance of Government securities such as the following:

• Government of India Treasury Bills
• Government of India dated securities
• Sovereign Gold Bonds
• State Developmental Loans.

Who can open Retail Direct Gilt (RDG) Account?

Retail investors having any of the following can open this account on RBI Retail Direct platform:

• Rupee savings bank account maintained in India
• PAN issued by the Income Tax Department
• Any OVD (Officially Valid Document) for KYC purposes
• Valid email-id
• Registered mobile number

NRI retail investors eligible to invest in Government securities under the Foreign Exchange Management Act (FEMA) 1999 are also eligible under this scheme.

The RDG account can be opened both singly and jointly.

RBI Retail Direct platform benefits

Currently, the benefits available on the Retail Direct platform include the following:

• Opening and management of RDG accounts

• Participation in non-competitive bidding in Primary G-sec auctions through the Clearing Corporation of India (CCIL)

• Investing in Sovereign Gold Bonds

• NDS OM (Negotiated Dealing System-Order Matching) access to retail direct investors for secondary market trading and settlement of such trades through CCIL

• Investor services such as account statement, nomination facility, pledge/lien, gift transactions

• Corporate actions such as coupon payment

"Retail investors (individuals) will have the facility to open and maintain the 'Retail Direct Gilt Account (RDG Account) with RBU. The investor can place non-competitive bids in Primary issuance of all Central Government securities (including Treasury Bills and Sovereign Gold Bonds) as well as securities issued by various State Governments," RBI says on the Retail Direct website.

"Under this scheme, the individual can also access Secondary market through NDS OM - RBI's trading system. The investor will automatically receive any interest paid/maturity proceeds into his linked bank account on due dates," it adds.