The National Stock Exchange of India (NSE) on Monday announced the launch of its new mobile app and web-based platform ‘NSE goBID’ for retail investors to buy government securities.
The National Stock Exchange of India (NSE) on Monday announced the launch of its new mobile app and web-based platform ‘NSE goBID’ for retail investors to buy government securities. Sebi chairman Ajay Tyagi launched the new app which would be available to all the registered investors with NSE’s trading members and will also facilitate trading members in acquiring new retail investors.
“The launch of ‘NSE goBID’, a web or 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,” Tyagi said at the event.
NSE goBID 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.