In terms of the Master Direction FIDD.MSME & NFS.12/06.02.31/2017-18 dated July 24, 2017, banks have been advised to put in place a Credit Proposal Tracking System (CPTS)/ equivalent tracking mechanism to facilitate central registration and a system of e-tracking of all MSME loan applications. This mechanism shall automatically generate an acknowledgement of the application, having a unique application serial number for both physical and online applications. Banks shall ensure that the acknowledgement and status of the application is sent automatically to the applicants.

Further, Banks have also been advised to convey to the MSME borrowers in writing the main reason/reasons which, in the opinion of the bank after due consideration, have led to rejection of the loan applications. (Refer to the circular RPCD. MSME&NFS.BC.No.74/06.02.31/2012-13 dated May 9, 2013 for further information.)

Ans : Yes. It is left to the choice of the individual customer and the ECS user to decide these aspects. The mandate can contain a ceiling on the maximum amount of debit, specify the purpose of debit and validity period of the mandate.

On the NDS OM Web Module, the GAH has the functionality to directly place bids and offers. The GAH can modify or cancel his/her outstanding orders. Outstanding orders can also be put on Hold and Released, if required by the GAH. The complete control over his outstanding orders is available to the GAH. The GAH gets real time update about the status of his orders through notifications and pop-ups.

Ans. The Reserve Bank is empowered to call for from the system provider returns, documents and other information relating to the operation of the payment system. The system provider and all system participants are required to provide Reserve Bank access to any information relating to the operation of the payment system (Section 12 and 13 of PSS Act, 2007).

Ans: The webpage of RBI “RBI Kehta Hai” at /en/web/rbi/rbi-kehta-hai for information regarding ways to ensure safe and secure digital payments can be referred to. Further, RBI has also launched a magazine named BE(A)WARE for users of digital transactions which can be accessed at /documents/87730/39016390/BEAWARE07032022.pdf.

Yes. It is left to the choice of the individual customer and the ECS user to decide these aspects. The mandate can contain a ceiling on the maximum amount of debit, specify the purpose of debit and validity period of the mandate.

A person resident in India is free to send (export) any gift article of value not exceeding Rs. 5,00,000 provided export of that item is not prohibited under the extant EXIM Policy.

Persons resident in India are permitted to maintain foreign currency accounts in India under following two Schemes:

1. EEFC Accounts –

To avoid exchange loss on conversion of foreign exchange into Indian Rupee & Rupee into foreign exchange, residents can retain upto 50% of foreign currency remittances received from abroad in a foreign currency account, viz., EEFC account, with an authorised dealer in India . Funds held in EEFC account can be utilised for current account transactions and also for approved capital account transactions as specified by the extant Rules/Regulations/Notifications/Directives issued by the Government/RBI from time to time.

2. RFC Accounts :-

Returning Indians, i.e., those Indians, who were non-residents earlier, and are returning now for permanent stay, are permitted to open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to keep their foreign currency assets. Assets held outside India at the time of return can be credited to such accounts. The funds in RFC account are free from all restrictions regarding utilisation of foreign currency balances including any restriction on investment outside India. The facility is also available to residents provided foreign exchange to be credited to such account is received out of certain specified type of funds/accounts.

The transfer of securities to the clients should be completed within five working days from the date of the auction.Delivery and Form of Holding

No. A deposit has to run for a minimum stipulated period, which is at present one year for FCNR(B) and six months for NRE deposits, to be eligible to earn interest.

No, once the report of remittance in form ODR is received by the Reserve Bank through the designated Authorised Dealer, an identification number for that particular investment is issued for the purpose of future reference. Subsequent investment in the same project will be permitted to be made only after allotment of the identification number.

• As indicated in our press release dated May 15, 2013, size of the each tranche would be Rs. 1,000-2,000 crore.

• The customers should be issued the securities after receiving clear money. After receiving clear money, banks should register the customer on CBS and generate Certificate of Holding.

Ans. Apart from above PPIs, there are the following two categories of PPIs:

1. Gift PPIs; and

2. PPIs for Mass Transit Systems (PPI-MTS).

The Central Government has decided that upto 30.12.2016, the payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Yojana (PMGKY), can be made in Old Bank Notes of ₹ 500 and ₹ 1000 denomination issued by the RBI. The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 has commenced on 17th December, 2016 and is open for declarations upto 31st March, 2017. The payment of tax, surcharge and penalty under the Scheme is to be made through challan ITNS-287 and the deposits are to be made in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016. The notifications relating to PMGKY are available on the website www.incometaxindia.gov.in

Our instructions contained in circular RPCD.CO.RRB.BC.No.57/03.05.33/2011-12 dated January 30, 2012 on Deregulation of Savings Bank Deposit Interest Rate, are applicable to deposits held in ‘Basic Savings Bank Deposit Account’.

Ans. The FAQs on “Legal Entity Identifier (LEI) for Large Value Transactions in Centralised Payment Systems” on the RBI website at https://www.rbi.org.in/Scripts/FAQView.aspx?Id=140 can be referred to.

Our instructions contained in circular UBD.BPD(PCB).Cir.No.18/13.01.000/2011-12 dated February 7, 2012 on Deregulation of Savings Bank Deposit Interest Rate, are applicable to deposits held in ‘Basic Savings Bank Deposit Account’.

At the time of making applications, the Promoters/Promoter Group will have to furnish a road map and methodologies they would adopt to comply with all the requirements of the corporate structure indicated in para 2 (C)(ii) and (iii) of the guidelines and realign the business between the entities to be held under the NOFHC [para 2(C)(iv) of the guidelines] within a period of 18 months. After the ‘in-principle approval’ is accorded by RBI for setting up of the bank, the actual setting up of NOFHC and the bank, re-organization of the Promoter Group entities to bring the regulated financial services entities under the NOFHC as well as realignment of business among the entities under the NOFHC have to be completed within a period of 18 months from the date of in-principle approval or before commencement of banking business, whichever is earlier.

Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.