The National Stock Exchange of India (NSE) on Monday launched its new mobile app and web-based platform ‘NSE goBID’ for assisting retail investors in buying government securities.
The app was launched by Ajay Tyagi, Chairman, Sebi and it would be available to all the registered investors with NSE’s trading members. It will also be helping the 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,” said Tyagi.
NSE goBID will be assisting the retail investors in initiating payments directly from their bank accounts using the Unified Payments Interface (UPI) and internet banking. This act will offer better convenience to the retail investors and its pocket-friendly approach will appeal to trading members of NSE as the cost associated for setting up infrastructure is much lower than the existing platform.
It will control the order collection, payment and refund which is currently required to be managed by trading members. With the help of this newly launched app, retail investors get an option to 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.