New FAQ Page 2 - আরবিআই

RbiAnnouncementWeb

FAQ DetailPage Breadcrumb

Search Bar

Search Results

UPI-PayNow Linkage

9. Is there a provision of consent for receiving inward transactions through the linkage? +

Yes, there is an opt in / opt out feature in the apps of the participating banks in India for receiving the remittances from Singapore.

9. From which date will the exchange facility be available? +

To give time to the banks to make preparatory arrangements, members of the public are requested to approach the bank branches or ROs of RBI from May 23, 2023 for availing exchange facility.

9. What are the charges for availing the remittance facility? +

Ans: For transactions up to ₹50,000, the charges are as follows:

Originating bank – Maximum ₹5/- per transaction.
State Bank of India – ₹20/- per transaction. SBI would share this ₹20/- with NSBL at ₹10 each. NSBL would not charge any additional amount for crediting the beneficiary. if he maintains an account with it.
In case the beneficiary does not maintain an account with NSBL then, an additional amount would be charged- ₹50/- for remittances up to ₹5,000/- and ₹75/- for remittance above ₹5,000/-.
For transactions above ₹50,000/-, charges prescribed by SBI shall apply. The charges prescribed by SBI is available on the website of SBI under the hyperlink - https://nsbl.statebank/remittance-from-india.

Q.9 Whether REs are allowed to enter into DLG arrangements for credit cards as defined under Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022?

Ans: No. DLG arrangements for credit cards are not permitted.

9. Whether the RE implementing the green deposit framework is required to publish two copies of the Financing Framework (FF) on its website, one prior to external review and another after the external review?

The RE needs to publish the FF along with opinion of external reviewer on the FF (before implementation of FF) on its website. There is no requirement of publishing FF twice, i.e., one before and another after external review.

9. Who decides the limits for cash withdrawal or purchase of goods and services through a card? +

Ans: The limits on cash withdrawal at ATMs and for purchase of goods and services are decided by the card issuer. Within these limits, the card holder may set and modify transaction limits for various uses like domestic, international, PoS, ATMs, online transactions, contactless transactions, etc. Cash withdrawal using debit cards and full-KYC prepaid cards at PoS terminals has been allowed by Reserve Bank of India (RBI) whereby, a maximum of ₹2,000 can be withdrawn per transaction within an overall monthly limit of ₹10,000. Cardholders can check with their issuers for details of such facilities provided by them.

Q9. What is the meaning of capital account transaction? What are the permitted capital account transactions? +

Answer: “Capital account transaction" means a transaction which alters the assets or liabilities, including contingent liabilities, outside India of persons resident in India or assets or liabilities in India of persons resident outside India. Please refer to the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 for permitted capital account transactions.

9. Who are the parties / stakeholders in a tokenisation transaction? +

Ans. Normally, in a tokenised card transaction, parties / stakeholders involved are merchant, the merchant’s acquirer, token service provider (card payment network or card issuer), token requestor, issuer and customer. However, an entity, other than those indicated, may also participate in the transaction.

9. Can an investor hold more than one investor ID for subscribing to the Sovereign Gold Bond? +

No. An investor can have only one unique investor Id linked to any of the prescribed identification documents. The unique investor ID is to be used for all the subsequent investments in the scheme. For holding securities in dematerialized form, quoting of PAN in the application form is mandatory.

6. Whether interest can be earned on SNRR balances or through term deposit?

No.

Q 9: In case of delinquent loans, recovery/ servicing of digital loans may be undertaken by a recovery agent collecting cash from borrowers. Will such cases be exempted from the requirement of direct repayment of loan in the RE’s bank account? +

Ans: In case of delinquent loans, REs can deploy physical interface to recover loans in cash, where absolutely necessary. In order to afford operational flexibility to REs, such transactions are exempted from the requirement of direct repayment of loan in the RE’s bank account. However, any recovery by cash should be duly reflected in the borrower’s account and REs shall ensure that any fees, charges, etc., payable to LSPs are paid directly by them (REs) and are not charged by LSP to the borrower directly or indirectly from the recovery proceeds.

Q9. Can multilateral organisation have deposits in India ? +

Answer: Any multilateral organization, of which India is a member nation, or its subsidiary/ affiliate bodies and officials in India can open deposits with an authorised dealer in India.

Q.9 Will the circular be applicable to existing borrowers?

Ans: Yes, the circular will be applicable to the existing borrowers.

1. Para 3(viii) of the circular specifies that in the case of existing loans, the switchover to new penal charges regime shall be ensured on next review or renewal date or six months from the effective date of the circular, whichever is earlier. Whether such date of next review or renewal can be counted only after the effective date or even before the effective date if the accounts are subjected to review/ renewal?

In case of existing loans as well, the instructions shall come into effect from April 1, 2024 and the switchover to new penal charges regime shall be ensured on the next review / renewal date falling on or after April 1, 2024, but not later than June 30, 2024.

Q 9. Whether societies registered under respective State Co-operatives Societies Act, are eligible for opening savings bank account?

Ans. No. In terms of item (iv) of Schedule-I to paragraph 29.8 of these Directions, societies registered under Societies Registration Act, 1860 (SRA,1860) or societies registered under any other law in force in a State or a Union Territory with the same object & purpose of promoting literary, scientific, and charitable activities as the SRA,1860, are eligible to open savings bank account with banks. Accordingly, savings bank accounts cannot be opened in the name of any other society/societies.

9. Can the complaints with the RBI Ombudsmen under RB-IOS, 2021 be filed through Contact Center? +

No, complaints cannot be filed through Contact Center, but the Contact Centre can assist the complainant in filing the complaint through CMS portal or physical mode. It will also provide clarifications about/ details of the AGR mechanism set up by RBI.

9. বিএসবিডিএ অ্যাকাউন্টে প্রযোজ্য কেওয়াইসি বিধিগুলি কী? বিএসবিডিএ-র ক্ষেত্রে কি কেওয়াইসি বিধিতে কোনো ছাড় আছে?

‘বেসিক সেভিংস ব্যাংক ডিপোজিট অ্যাকাউন্ট’ হল পিএএল আইন ও নিয়ম এবং নো ইয়োর কাস্টমার (কেওয়াইসি)/অ্যান্টি-মানি লন্ডারিং (এএমএল)-এর ব্যবস্থা সাপেক্ষে ব্যাংক অ্যাকাউন্ট খোলার জন্য যা সময়ে সময়ে ইস্যু করা হয়েছে। বিএসবিডিএ খোলা যেতে পারে সহজ কেওয়াই বিধিতে। যদিও, যদি বিএসবিডিএ সিমপ্লিফায়েড কেওয়াইসি-র ভিত্তিতে খোলা হয়, অ্যাকাউন্টকে অতিরিক্তভাবে ‘বিএসবিডিএ-স্মল অ্যাকাউন্ট’ রূপে বিবেচনা করা হবে এবং এরকম অ্যাকাউন্টের জন্য শর্ত সাপেক্ষে বিবেচিত হবে যা উল্লেখ করা হয়েছে মাস্টার সার্কুলার DBOD.AML.BC.No. 11/14.01.001/2012-13 তারিখ 2 জুলাই 2012-এর প্যারাগ্রাফ 2.7-এ।

9. What information on business activity classification has been covered under this survey?

Ans.: Four major business activities of computer software & information technology enabled services with their sub classifications are covered under the survey schedule. Details can be found in the survey schedule itself.

9. What do I do if I still have a grievance ? +

If any customer has a complaint against a bank due to non-payment or inordinate delay in the payment or collection of cheques, complaint can be lodged with the bank concerned. If the bank fails to respond within 30 days, you may make a complaint under “The Reserve Bank-Integrated Ombudsman Scheme (RB-IOS 2021)”. Complaints can be filed online on https://cms.rbi.org.in, or through the dedicated e-mail or sent in physical mode to the ‘Centralised Receipt and Processing Centre’ set up at RBI, 4th Floor, Sector 17, Chandigarh – 160 017 in the format given at the following path - /documents/87730/39016390/RBIOS2021_121121_A.pdf. A toll-free number – 14448 (9:30 am to 5:15 pm) – is also available for customers to seek assistance in filing complaints and information on grievance redressal, with multi-lingual support.

9. ব্যাংক দ্বারা জারি করা কার্ড ভারতের যে কোনো এটিএম / ডব্লিউএলএ-তে ব্যবহার করা যাবে? +

উত্তর. হ্যা, ব্যাংক দ্বারা জারি করা কার্ড ভারতের যেকোনো এটিএম / ডব্লিউএলএ-তে ব্যবহার করা যাবে।