The Reserve Bank of India has been organizing training sessions on the authentication of banknotes security features for people handling significant amounts of cash like banks/consumer forums/merchant associations/educational institutions/police professionals. Apart from the training sessions, information on security features of banknotes is also available on the Bank’s website.

Answer: The reporting requirements are laid down in the Master Direction on Reporting under Foreign Exchange Management Act, 1999.

In terms of section 45QA of the Reserve Bank of India Act, 1934, where an NBFC fails to repay any deposit in accordance with the agreed terms and conditions, the Company Law Board can order the company to make repayment of such deposit forthwith or within such time and subject to such conditions as may be specified in the order. The aggrieved depositor is required to submit an application in the Form prescribed by them together with the requisite fee, to the concerned bench of the Company Law Board mentioned in the Deposit Application Form and seek an Order against the erring company . Apart from above, the depositor can also approach the District/State/National Level Consumers Disputes Redressal Forum for relief against the erring company.

It depends on whether the money is received as advance for delivering jewellery at a future date or whether the money is received with a promise to return the same with interest. The money accepted by Jewellery shops in instalments for the purpose of delivering jewellery at the end of the period of contract is not deposit. It will amount to acceptance of deposits if in return for the money received, the jewellery shop promises to return the principal amount along with interest.

Yes, securities can be gifted/transferred to a relative/friend/anybody who fulfills the eligibility criteria. The bonds shall be transferred in accordance with the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007.

The loans/ advances granted to individuals against the security of shares, debentures and PSU bonds should not exceed Rs.10 lakhs and Rs.20 lakhs, if the securities are held in physical form and dematerialized form respectively. The maximum amount of finance that can be granted to an individual for subscribing to IPOs is Rs.10 lakhs. However, the bank should not provide finance to companies for their investment in IPOs of other companies. Banks can grant advances to employees for purchasing shares of their own companies under Employees Stock Option Plan (ESOP) to the extent of 90% of purchase price of shares or Rs.20 lakhs whichever is lower. NBFCs should not be provided finance for lending to individuals for subscribing the IPOs. Loans/ advances granted by a bank for subscribing to IPOs should be reckoned as an exposure to capital market.

Coins in India are presently being issued in denominations of 50 paise, one rupee, two rupees, five rupees, ten rupees and twenty rupees. Coins up to 50 paise are called 'small coins' and coins of Rupee one and above are called 'Rupee Coins'. Coins can be issued up to the denomination of ₹1000 under The Coinage Act, 2011.

Answer: Foreign investment can be made based on a notification issued under FEMA, 1999.

An NBFC accepts deposits under a mutual contract with its depositors. In case a depositor requests for pre-mature payment, Reserve Bank of India has prescribed Regulations for such an eventuality in the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998. However, premature repayment of deposits is the sole discretion of the company concerned. In other words, if the company agrees to pre-pay deposits at the request of the depositor, the depositor and the company are deemed to have mutually agreed to amend the terms of contract. On the above analogy, if a company intends to pre-pay deposits, it can seek the consent of the depositors for such pre-mature repayment and if the depositors agree, a company can do so. It does not involve prior approval of RBI so long as the provisions relating to minimum period regarding repayment of deposits are not violated.

Such unincorporated entities, if found accepting public deposits, are liable for criminal action. Further NBFCs are prohibited by RBI from associating with any unincorporated bodies. If NBFCs associate themselves with proprietorship/partnership firms accepting deposits in contravention of RBI Act, they are also liable to be prosecuted under criminal law or under the Protection of Interest of Depositors (in Financial Establishments) Act, if passed by the State Governments.