FAQ Page 1 - আরবিআই - Reserve Bank of India
Domestic Deposits
II. Deposits of Non-Residents Indians (NRIs)
Biennial survey on Foreign Collaboration in Indian Industry (FCS)
Some other important points to be noted
Ans.: Please read the definitions of foreign subsidiary, foreign associate, Pure Technical Collaboration and accordingly select the type of reporting company. Further, if you have chosen “Others” in identification of reporting company, please specify.
Core Investment Companies
Core Investment Companies (CICs)
Ans: CICs having asset size of below Rs 100 crore are exempted from registration and regulation from the Reserve Bank, except if they wish to make overseas investments in the financial sector.
Retail Direct Scheme
Know Your Customer (KYC) related queries
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Upload a scanned copy of your PAN card.
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Download the XML version of your Aadhaar from the UIDAI website and upload it. Use the 4-digit pin specified while downloading XML version.
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Provide address details, scanned copy of your signature, bank account details and nominee details.
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Complete the video KYC by choosing a time slot for later or immediately, depending on the availability at that point of time.
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Authenticate the user agreement form by Aadhaar using the OTP sent on your mobile number linked to Aadhaar.
Targeted Long Term Repo Operations (TLTROs)
FAQs pertaining to On Tap TLTRO/ reversal of TLTRO/ TLTRO 2.0 transactions
Ans: Banks can use either of the alternatives. However, the request of the bank will be subject to availability of funds as on date of application i.e., funds cannot be guaranteed in case the total amount of ₹1,00,000 crore is already availed.
Housing Loans
- At the time of sourcing the loan, banks are required to provide information about the interest rate applicable, the fees / charges and any other matter which affects your interest and the same are usually furnished in the product brochure of the banks. Complete transparency is mandatory.
- The banks will supply you authenticated copies of all the loan documents executed by you at their cost along with a copy each of all enclosures quoted in the loan document on request.
A bank cannot reject your loan application without furnishing valid reason(s) for the same.
Indian Currency
B) Banknotes
With a view to enhancing operational efficiency and cost effectiveness in banknote printing, non-sequential numbering was introduced in 2011 consistent with international best practices. Packets of banknotes with non-sequential numbering contain 100 notes which are not sequentially numbered.
All you wanted to know about NBFCs
B. Entities Regulated by RBI and applicable regulations
Foreign Investment in India
FAQs on Non-Banking Financial Companies
Ceiling on deposits
Annual Return on Foreign Liabilities and Assets (FLA) under FEMA 1999
Eligible entities and requirements to submit the FLA return
Ans: No, balance sheet or profit and loss (P&L) accounts are not required to be submitted along with the FLA return.
External Commercial Borrowings (ECB) and Trade Credits
F. LEVERAGE CRITERIA AND BORROWING LIMIT
Government Securities Market in India – A Primer
Primary Market
16.1 Once the allotment process in the primary auction is finalized, the successful participants are advised of the consideration amounts that they need to pay to the Government on settlement day. The settlement cycle for auctions of all kind of G-Secs i.e. dated securities, T-Bills, CMBs or SDLs, is T+1, i.e. funds and securities are settled on next working day from the conclusion of the trade. On the settlement date, the fund accounts of the participants are debited by their respective consideration amounts and their securities accounts (SGL accounts) are credited with the amount of securities allotted to them.
Secondary Market
16.2 The transactions relating to G-Secs are settled through the member’s securities / current accounts maintained with the RBI. The securities and funds are settled on a net basis i.e. Delivery versus Payment System-III (DvP-III). CCIL guarantees settlement of trades on the settlement date by becoming a central counter-party (CCP) to every trade through the process of novation, i.e., it becomes seller to the buyer and buyer to the seller. 16.3 All outright secondary market transactions in G-Secs are settled on a T+1 basis. However, in case of repo transactions in G-Secs, the market participants have the choice of settling the first leg on either T+0 basis or T+1 basis as per their requirement. RBI vide FMRD.DIRD.05/14.03.007/2017-18 dated November 16, 2017 had permitted FPIs to settle OTC secondary market transactions in Government Securities either on T+1 or on T+2 basis and in such cases, It may be ensured that all trades are reported on the trade date itself.
Business restrictions imposed on Paytm Payments Bank Limited vide Press Releases dated January 31 and February 16, 2024
FASTag issued by Paytm Payments Bank
Coordinated Portfolio Investment Survey – India
Some important definitions and concepts
Ans: Equity consists of all instruments and records that acknowledge claims on the residual value of a corporation or quasi-corporation, after the claims of all creditors have been met. Equity may be split into listed shares, unlisted shares, and other equity. Both listed and unlisted shares are equity securities. Equity securities are commonly called shares or stocks. Other equity is equity that is not in the form of securities.
Annual Return on Foreign Liabilities and Assets (FLA) under FEMA 1999
Procedure for submission of the FLA return
Ans: Entities can submit the FLA return through the online web-based portal Foreign Liabilities and Assets Information Reporting (FLAIR) system, having address https://flair.rbi.org.in/fla/faces/pages/login.xhtml.
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To access the URL https://flair.rbi.org.in/fla/faces/pages/login.xhtml, any of the browsers viz, Internet Explorer, Google chrome, Firefox etc. can be used, as all of these would support this application.
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The entity has to register on the portal by clicking Registration for New Entity Users.
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The entity has to fill the details in the FLA user registration form, upload the documents mentioned (Verification Letter and Authority Letter) and click submit to complete the registration.
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After successful registration, user id and default password will be sent to the authorized person’s mail id. Using this user id and password, entities can login to the FLAIR portal and file the FLA Return.
- Please note: The excel-based format and email-based reporting system has been replaced by the web-based format for submission of annual FLA return from June 2019.
Biennial survey on Foreign Collaboration in Indian Industry (FCS)
Some other important points to be noted
Ans.: In the FCS form, industry codes are given as per the National Industrial Classification (NIC) (2 digit) codes. Please specify, if you have chosen “Other” industry codes, like Other manufacturing, Other services activities.
Retail Direct Scheme
Know Your Customer (KYC) related queries
Targeted Long Term Repo Operations (TLTROs)
FAQs pertaining to On Tap TLTRO/ reversal of TLTRO/ TLTRO 2.0 transactions
Ans: There is no restriction with respect to primary/ secondary market investments in specified securities under the on Tap TLTRO scheme.
Housing Loans
If you have a complaint against only scheduled bank on any of the above grounds, you can lodge a complaint with the bank concerned in writing in a specific complaint register provided at the branches as per the recommendation of the Goiporia Committee or on a sheet of paper. Ask for a receipt of your complaint. The details of the official receiving your complaint may be specifically sought. If the bank fails to respond within 30 days, you can lodge a complaint with the Banking Ombudsman. (Please note that complaints pending in any other judicial forum will not be entertained by the Banking Ombudsman). No fee is levied by the office of the Banking Ombudsman for resolving the customer’s complaint. A unique complaint identification number will be given to you for tracking purpose. (A list of the Banking Ombudsmen along with their contact details is provided on the RBI website).
Complaints are to be addressed to the Banking Ombudsman within whose jurisdiction the branch or office of the bank complained against is located. Complaints can be lodged simply by writing on a plain paper or online at www.bankingombudsman.rbi.org.in or by sending an email to the Banking Ombudsman. Complaint forms are available at all bank branches also.
Complaint can also be lodged by your authorised representative (other than a lawyer) or by a consumer association / forum acting on your behalf.
If you are not happy with the decision of the Banking Ombudsman, you can appeal to the Appellate Authority in the Reserve Bank of India.