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Additional FAQs on Inflation Indexed Bonds (Accounting Norms)

2. RBI may please clarify the treatment of MTM appreciation /depreciation of the IIBs, whether this would form a separate classification or a part of the Government Securities ‘classifcation’ and the appreciation/depreciation netted out with other G.Secs under this classification. +

Ans: IIBs are government securities and as such should be classified accordingly as indicated in para 2 (i) of Master circular on investments:

Classification

i) The entire investment portfolio of the banks (including SLR securities and non-SLR securities) should be classified under three categories

viz. 'Held to Maturity',

'Available for Sale' and 'Held for Trading'

* However, in the balance sheet, the investments will continue to be disclosed as per the existing six classifications:

viz. a) Government securities,

b) Other approved securities,

c) Shares,

d) Debentures & Bonds,

e) Subsidiaries / joint ventures and

f) Others (CP, Mutual Fund Units, etc.).

2. What can I read for further guidance on RTGS and NEFT payment systems? +

Ans. Following links can be perused for understanding RTGS and NEFT systems: -

RTGS System Regulations

NEFT Procedural Guidelines

FAQs on RTGS

FAQs on NEFT

Master Guidelines on Access Criteria for Payment Systems

RESERVE BANK OF INDIA
FINANCIAL MARKETS OPERATION DEPARTMENT

Average of Working Days	INR To 100 USD
1945-46	332.25
1946-47	331.96875
1947-48	331.75
1948-49	331.75
1949-50	407.4375
1950-51	477.50
1951-52	478.15625
1952-53	478.25
1953-54	476.25
1954-55	477.78125
1955-56	478.9375
1956-57	479.22
1957-58	478.32
1958-59	476.54
1959-60	476.80
1960-61	476.82
1961-62	477.20
1962-63	477.20
1963-64	478.29

Average of Working Days	1 USD to INR 100
1960-61	20.97
1965-66	20.90
1966-67	20.86 / 13.20
1967-68	13.22
1968-69	13.12
1969-70	13.26
1970-71	13.23

2. Trade credit and structured obligations have been excluded from applicability of the circular. Whether Penal interest can be charged on these products, given the deletion of provision related to Penal interest from existing RBI guidelines on “Interest rates on advances”?

The instructions as contained in the circular are not applicable to products covered under the RBI Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations dated March 26, 2019 (as amended from time to time) and the banks may be guided by the relevant instructions contained in the aforesaid Master Direction.

Q.2 In terms of paragraph 2(i) and paragraph 4 of the circular, REs have been advised to communicate to the borrowers the impact of interest rate reset on EMI, in a floating rate personal loans, both at the time of sanction as well as during the tenure of the loan. In this context, when and at what frequency shall REs communicate with the borrower? What will be the content of the communication?

Ans: Communications to borrowers envisaged in the circular are:

(a) At the time of sanction:

Annualised rate of interest/ Annual Percentage Rate (APR), as applicable, shall be disclosed in the Key Fact Statement (KFS) and the loan agreement.
The possible impact of change in benchmark interest rate on the loan.

(b) During the tenure of the loan:

Subsequently, any increase in the EMI/tenor on account of the external benchmark rate shall be communicated; and
Quarterly statements shall be provided disclosing at the minimum, the principal and interest recovered till date, EMI amount, number of EMIs left and annualized rate of interest for the tenor of the loan.

Q 2. What is meant by Reinvestment Deposit?

Ans. In terms of paragraph 4.22 of Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2025, reinvestment deposits are those deposits where interest (as and when due) is reinvested at the same contracted rate till maturity which is withdrawable with the principal amount on maturity date.

2. What is the frequency of this ITES survey?

Ans.: Annual.

Q.2 Is discretion available to REs for reporting of incidents of frauds to the Law Enforcement Agencies (LEAs), especially in case of small value frauds? Or whether banks are mandatorily required to report small value frauds to police under Master Directions on Fraud?

Ans: Paragraph 5.1 of the Master Directions requires Regulated Entities (REs) to immediately report incidents of fraud to Law Enforcement Agencies (LEAs), subject to applicable laws. Under Section 33 of Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS), a person is not mandatorily required to report to LEAs information on commission of all offences, but only on those offences which are listed in that Section. REs are, however, advised to mandatorily report incidents of fraud involving an amount of ₹1 lakh or more to LEAs.

2. What is the RBI Alternate Grievance Redress (AGR) Framework? +

The AGR Framework of RBI comprises of RBI Ombudsmen (RBIOs), Consumer Education and Protection Cells (CEPCs) and CEPD. The RBIOs function under the framework of RB-IOS, 2021. The CEPCs take up complaints against REs not falling under the ambit of RB-IOS, 2021. CEPD provides assistance to the Appellate Authority (AA) under the RB-IOS and processes the appeal cases.

2. হোয়াইট লেভেল এটিএমগুলি (WLA ) কি?

উত্তর. এটিএম যেটি স্থাপন করা, চালানো ইত্যাদি যদি অ-ব্যাংক দ্বারা হয় তবে তাঁদের ডব্লিউএলএ বলা হয়। অ-ব্যাংক এটিএম চালকরা অনুমোদিত হয় ভারতীয় রিজার্ভ ব্যাংকের (আরবিআই) পরিসেবা ও নিষ্পত্তি ব্যবস্থা আইন 2007 এর মাধ্যমে। WLA অনুমোদিত চালকদের তালিকা উপলব্ধ আছে আরবিআই-এর ওয়েবসাইটে যার লিংক হচ্ছে https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043