Ans: Reasonable one-time processing fee can be retained if the customer exits the loan during cooling-off period. This, if applicable, should be disclosed to the customer upfront in KFS. However, the processing fee has to be mandatorily included for the computation of APR.

Ans.: Yes, the number of employee information should be reported as on end - March of the reference year.

The provisions made in the above framework shall be applicable to MSMEs having loan limits up to Rs.25 crore, including accounts under consortium or multiple banking arrangement (MBA).

A complaint can be filed through any of the following methods:

1. Online - on CMS portal of RBI at https://cms.rbi.org.in.

2. Physical complaint (letter/post) in the form as specified in Annexure ‘A’ in the Scheme to “Centralised Receipt and Processing Centre, 4th Floor, Reserve Bank of India, Sector -17, Central Vista, Chandigarh - 160017”.

3. Complaints with full details (please refer to Question 17 below) can be sent by email (crpc@rbi.org.in).

Answer: Balance in SRVA is like foreign exchange inflow converted into INR, hence balance can be used for any permissible current and capital account transaction under the present FEMA framework.

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.

উত্তর. হ্যাঁ, নির্ধারিত নিঃশুল্ক লেনদেনের সংখ্যা পার হয়ে বা বেশি হয়ে যাবার পর গ্রাহকদের দাম দিতে হয় (যেমন প্রশ্ন সংখ্যা 11 বলা হয়েছে)। যদিও, বর্তমানে, এই দাম লেনদেন পিছু 20 টাকার বেশি নয় (সেই সঙ্গে আনুষঙ্গিক কর, যদি কিছু থাকে) তার নিজের ব্যাংক দ্বারা ।

Ans. Yes, the RE is required to obtain customer’s explicit consent to use his/ her KYC Identifier for downloading KYC records from CKYCR for the purposes mentioned in reply to Q. 14 and 15.

Response: The jewellery will be melted by the CPTC/GMCTAs to conduct the fire assay and the customer can then get back gold only in post-melted form. Thus, the decision regarding taking back jewellery in the original form must be taken by the customer after XRF test and before giving consent for fire-assaying.

The preliminary scrutiny will be done by FinTech Department of Reserve Bank of India. However, detailed scrutiny will be done by the PR based on its sandbox framework. The PR will also coordinate with ARs to review specific features of your product that fall under their regulatory scope, ensuring a smooth and efficient process.

Ans. In case of non-payment of the amount indicated in the compounding order within 15 days of the order, it will be treated as if the applicant has not made any compounding application to the Reserve Bank and the other provisions of FEMA, 1999 regarding contraventions will apply. Such cases will be referred to the DoE for necessary action.

Ans. The PSS Act does not place any restriction on the types of payment systems / services a foreign entity can provide. However, any service provided by a domestic or foreign entity must be in accordance with the overall legal framework of the country.

Foreign entities viz., card networks like MasterCard (Singapore), Visa Worldwide Pte. Limited (Singapore), etc. are authorised under the PSS Act and operating card schemes in India. Also, cross-border remittance service providers viz., Western Union Financial Services Incorporated, USA, MoneyGram Payment Systems Inc, USA., etc. have also been authorised and are providing remittance services. The list of entities authorised under the PSS Act is available at https://rbi.org.in/web/rbi/payment-and-settlements/other-links/information-useful-to-banks-fis/payment-system-operators

Ans: Users can raise disputes via their e₹ wallet app or reach out to their customer care centre.

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 e-mail or sent in physical mode to the ‘Centralised Receipt and Processing Centre’ set up at 4th Floor, Reserve Bank of India, Central Vista, Sector 17, Chandigarh – 160 017 in the format given at the following path : https://rbi.org.in/documents/87730/308781/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.

Before a loan account of a MSME turns into a Non-Performing Asset (NPA), banks or creditors should identify incipient stress in the account by creating three sub-categories under the Special Mention Account (SMA) category as given in the Table below:

SMA Sub-categories	Basis for classification
SMA-0	Principal or interest payment not overdue for more than 30 days but account showing signs of incipient stress
SMA-1	Principal or interest payment overdue between 31-60 days
SMA-2	Principal or interest payment overdue between 61-90 days

উত্তর. PPI ধারকের কাছে বিকল্প আছে যে তারা যেকোন সময় এটি বন্ধ করে দিতে পারেন এবং অনাদায়ী অবশেষটি তার নিজের ব্যাংক খাতায় পাঠিয়ে দিতে পারেন কেওয়াইসি এর প্রয়োজনীয়তা পূরণ করার পর । এই খাতায় বন্ধ করার পর অবশিষ্ট টাকাটি পাঠান হবে সেটি PPI জারিকর্তা দ্বারা যাচাই করে নিতে হবে এই ধরনের স্থানান্তর করার আগে। PPI ধারকরা এই নিধি স্থানান্তর করতে পারবেন ‘এর মূলে ফেরত’ (পরিশোধের মূল যেখান থেকে PPI লোড করা হয়েছিল) দিতে পারেন বন্ধ করার সময় ।

ব্যাঙ্ককে বিনামূল্যে এটিএম কার্ড প্রদান করতে হবে এবং এসবের ওপর কোনো বার্ষিক শুল্ক দাবি করা যাবে না।

Ans : The Reserve Bank of India has deregulated the charges to be levied by sponsor banks from user institutions. The sponsor banks are, however, required to disclose the charges in a transparent manner. With effect from 1st July 2011, originating banks are required to pay a nominal charge of 25 paise per transaction to the Clearing house and destination bank respectively. Destination bank branches have been directed to afford ECS Credit free of charge to the beneficiary account holders.

ECS (DEBIT)

Use of the International Credit Cards (ICCs) / ATMs/ Debit Cards can be made for making personal payments like subscription to foreign journals, internet subscription, etc., and for travel abroad in connection with various purposes only to the extent of the limits specified above. However, the cards can be freely used in India. Use of these instruments for payment in foreign exchange in Nepal and Bhutan is not permitted.

• Like other G-Secs, the day count for IIBs would 30/360.