Ans: The portfolio over which DLG can be offered shall consist of identifiable and measurable loan assets which have been sanctioned (the ‘DLG set’). This portfolio will remain fixed for the purpose of DLG cover and is not meant to be dynamic. Kindly see illustrations at the end.

Ans.: Total invoice value must be in Indian Rupees (INR) in actuals (which should also include billing to subsidiary(s)/associate(s) abroad) during the reference period.

The complaints pertaining to the REs not covered under the RB-IOS, 2021 are forwarded to CEPCs of RBI (currently located at 30 RBI Offices) for resolution. Such complaints can also be filed on the portal or address as per details given in Question 16. The complainant would be notified of the same through SMS and e-mail on the mobile number and email id provided at the time of filing the complaint.

উত্তৰ. এটিএম-ত ন্যূনতম সংখ্যক ফ্ৰি ট্ৰানজাকশ্বন আৰবিআই বাধ্যতামূলক কৰিছে। বেংকে অধিক সংখ্যক ফ্ৰি ট্ৰানজাকশ্বনৰ সুবিধা নিজৰ গ্ৰাহকসকলক দিব পাৰে।

Answer: The exchange rate for most currencies are determined in the Forex markets, typically against global currencies like the USD, EUR, JPY etc. In the transition phase, when there is no market with direct exchange rates between two currencies (say INR and Sri Lankan Rupee), the exchange rate between the currencies of two trading partner countries, each of which has markets against global currencies, would be derived as a cross currency rate.

Ans. Yes, documents as mentioned in reply to Q 5 above shall be submitted by all account holders of a joint account to the RE.

The credit rating by external rating agencies is not compulsory from regulatory capital perspective, if the maximum aggregate exposure to one counterparty does not exceed the threshold limit of ₹7.5 crore, subject to meeting certain other conditions. (Refer Circular on Regulatory Retail Portfolio – Revised Limit for Risk Weight dated October 12, 2020)

Response: Yes, unless the potential depositor is already a bank’s KYC compliant customer.

Ans. Both types of Small PPIs are reloadable and shall be used only for purchase of goods and services. Their salient features are as follows:

PPIs upto ₹10,000/- (with cash loading facility):

1. The amount loaded during any month shall not exceed ₹10,000/-;

2. The total amount loaded during the financial year shall not exceed ₹1,20,000/-;

3. The amount outstanding at any point of time shall not exceed ₹10,000/-;

4. The total amount debited during any given month shall not exceed ₹10,000/-;

5. These PPIs shall be converted into full-KYC PPIs within 24 months; and

6. Loading / Reloading can be by cash or electronic means.

PPIs upto ₹10,000/- (with no cash loading facility):

1. The amount loaded during any month shall not exceed ₹10,000/-;

2. The total amount loaded during the financial year shall not exceed ₹1,20,000/-;

3. The amount outstanding at any point of time shall not exceed ₹10,000/-;

4. Loading / Reloading shall be from a bank account / credit card / full-KYC PPI; and

5. The Small PPIs (with cash loading facility) existing as on December 24, 2019 can be converted to this PPI, if desired by the PPI holder.

‘প্ৰাথমিক সঞ্চয় জমা একাউণ্টত’ উপলব্ধ বিনামুলীয়া সেৱাসমূহত ধন জমা আৰু উঠাই লোৱাৰ সুবিধা, ইলেকট্ৰনিট ধন পৰিশোধ ব্যৱস্থাৰ মাধ্যমে ধন গ্ৰহণ/ক্ৰেডিট নাইবা জমাৰ পদ্ধতি/চেক সংগ্ৰহ, বেংকৰ শাখা নাইবা এটিএম-ৰ পৰা, এই কেইটা অন্তৰ্ভুক্ত হৈ আছে।

Ans : ECS Credit offers many advantages to the beneficiary –

• The beneficiary need not visit his / her bank for depositing the paper instruments which he would have otherwise received had he not opted for ECS Credit.

• The beneficiary need not be apprehensive of loss / theft of physical instruments or the likelihood of fraudulent encashment thereof.

• Cost effective.

• The beneficiary receives the funds right on the due date.

Ans. Under normal circumstances, the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank must credit the beneficiary's account within 30 minutes of receiving the funds transfer message.

On return from a foreign trip travellers are required to surrender unspent foreign exchange held in the form of currency notes within 90days and travellers’ cheques within 180 days of return. However, they are free to retain foreign exchange upto US$2,000, in form of foreign currency notes or TCs for future use.

GAHs Management  involves PM’s actions like -  create ‘transactional’ users (employees of GAH who can place bids)  and ‘view only’ users (employees of GAH who can only view the bid related queries), modify users, suspend/unlock users, log-off users, obtain and set/reset the login passwords of users, set risk limits, take action on bids submitted by GAHs etc.

A list of returns generally applicable to the banks has been made available in the Approach Paper. However, every bank is required to work on all the RBI returns applicable to it.

Ans: Yes, NEFT can be used to transfer funds from / to NRE and NRO accounts in the country. This, however, is subject to the adherence of the provisions of the Foreign Exchange Management Act, 2000 (FEMA) and Wire Transfer Guidelines.

If a bank goes into liquidation, DICGC is liable to pay to the liquidator the claim amount of each depositor upto Rupees five lakhs within two months from the date of receipt of claim list from the liquidator. The liquidator has to disburse the claim amount to each insured depositor corresponding to their claim amount."

If a bank is reconstructed or amalgamated / merged with another bank: The DICGC pays the bank concerned, the difference between the full amount of deposit or the limit of insurance cover in force at the time, whichever is less and the amount received by him under the reconstruction / amalgamation scheme within two months from the date of receipt of claim list from the transferee bank / Chief Executive Officer of the insured bank/transferee bank as the case may be."

The foreign exchange acquired for any purpose has to be used within 60 days of purchase. In case it is not possible to use the foreign exchange within the period of 60 days it should be surrendered to an authorised dealer.

Under the Scheme, the Reserve Bank permits ADs Category - I , ADs Category - II and FFMCs to enter into agency or franchisee agreements at their option for the purpose of carrying restricted money changing business i.e. conversion of foreign currency notes, coins or travellers' cheques into Indian Rupees.

A franchisee can be any entity which has a place of business and a minimum Net Owned Funds of Rs.10 lakh. Franchisees can undertake only restricted money changing business.

An AD Category-I Bank / AD Category-II / FFMC, as the franchiser, is free to decide on the tenor of the arrangement as also the commission or fee through mutual agreement with the franchisee. The Agency / Franchisee agreement to be entered into should include the following salient features:

1. The franchisees should display the names of their franchisers, exchange rates and that they are authorised only to purchase foreign currency, prominently in their offices. Exchange Rate for conversion of foreign currency into Rupees should be the same or close to the daily exchange rate charged by the AD Category – I Banks / ADs Category - II / FFMC at its branches.

2. The foreign currency purchased by the franchisee should be surrendered only to its franchiser within 7 working days from the date of purchase.

3. The maintenance of proper record of transactions by the franchisee.

4. The on-site inspection of the franchisee by the franchiser should be conducted at least once a year.

Ans. A person resident in India is free to make any payment in Indian Rupees towards meeting expenses, on account of boarding, lodging and services related thereto or travel to and from and within India, of a person resident outside India, who is on a visit to India.