A. No.It is not envisaged that all the companies in the Promoter Group have to set up the wholly owned NOFHC. As provided in para 2(C)(iii) of the guidelines, only the non-financial services companies/entities and non-operative financial holding companies in the Promoter Group and individuals belonging to Promoter Group, conforming to the stipulation in para 2(C)(ii)(a) and (b), will be allowed to hold the shares of NOFHC. Further, para 2(C)(vii) requires that all the regulated financial services entities, in which the Promoter Group has ‘significant influence’ or ‘control’, (as defined in Accounting Standard 23) shall be held by the NOFHC, and that, such entities cannot hold shares in the NOFHC [para 2 (C) (iii) & (vii)].

No ratings or guidelines have been prescribed under the Liberalised Remittance Scheme of USD 25,000 on the quality of the investment an individual can make. However, the individual investor is expected to exercise due diligence while taking a decision regarding the investments which he or she proposes to make.

Resident individuals in India can acquire foreign securities without prior approval in the following cases: -by way of gift from a person outside India; orissued by a company incorporated outside India under Cashless Employees Stock Option Scheme which does not involve any remittance from India; orby way of inheritance from a person whether resident in or outside India; orpurchase of foreign securities out of funds held in the Resident Foreign Currency Account maintained in accordance with the Foreign Exchange Management (Foreign Currency Account) Regulations, 2000; orbonus shares on the foreign securities already held by them; orResident individuals are permitted to make overseas investments without any limit in listed overseas companies that have at least 10% share in an Indian company listed in a recognized stock exchange in India as on 1st January of the year of investment.

हाँ. बैंक कंपनियों को एक वर्ष की अधिकतम अवधि के लिए प्रत्याशित इक्विटी प्रवाह /निर्गम और अपरिवर्तनिय डिबेंचर, बाह्य वाणिज्यिक उधार, ग्लोबल डिपॉजिटरी रसीदों से प्राप्त होने वाली राशि तथा / या विदेशी प्रत्यक्ष निवेश के रूप में प्राप्त होने वाली निधि को ध्यान में रखते हुए ‘ब्रिज लोन’ स्वीकृत कर सकते हैं, बशर्ते बैंक इस बात से संतुष्ट हो कि उधारकर्ता कंपनी ने उपर्युक्त संसाधन /निधि जुटाने के लिए पक्की व्यवस्था की है। बैंक द्वारा स्वीकृत ब्रिज लोन पूंजी बाजार में बैंक के एक्सपोज़र की 5 प्रतिशत की निर्धारित उच्चतम सीमा के भीतर होगा।

हां, अन्य सरकारी प्रति‍भूति‍यों की तरह प्रश्न 14 के स्पष्टीकरण के अनुसार यह हस्तांतरणीय है, हालांकि 7% बचत बांड 2002, 6.5% बचत बांड 2003 (कर मुक्त) एवं 8% बचत बांड, 2003 (कर योग्य) के लि‍ए जारी सरकारी अधि‍सूचना में हस्तांतरण की आवश्यक शर्ते दी गई है । ये सभी तीन बांड धारक की मृत्यु की दशा में हस्तांतरणीय है एवं इसके अलावा 7% बचत बांड 2002 एवं 6.5% बचत बांड 2003 (कर मुक्त) रि‍श्तेदारों को उपहार के रुप में हस्तांतरणीय है रि‍श्तेदारों की परि‍भाषा भारतीय कंपनी अधि‍नि‍यम 1956 की धारा 6 के अनुसार होगी, जोकि नीचे दी गई है :

एक व्यक्ति दूसरे का रि‍श्तेदार तभी माना जाएगा यदि,

ए) वे हि‍न्दू अवि‍भक्त परि‍वार के सदस्य हो, या

बी) वे पति-पत्नी हो, या

सी) वे भारतीय कंपनी अधि‍नि‍यम,1956 की अनुसूचि‍त 1 ए के दर्शाए तरीके से एक दूसरे से संबंधि‍त हो ।

उपरोक्त के अलावा, स.प्र.विनियमावली के विनियम 21(3) के अनुसार उपरोक्त तीन बचत बॉन्ड यदि गिरवी रखने वाला/ उधारदाता यदि गिरवी, दृष्टिबंधक या ग्रहणाधिकृत पर स्वामित्व करना चाहे, तो यह उसके हक में हस्तांतरणीय होगी ।

यह एफएक्यू भारतीय रिज़र्व बैंक द्वारा केवल सामान्य जानकारी एवं मार्गदर्शन के लिए दिया है, बैंक इसके आधार पर लिए गए निर्णय / की गई कार्रवाई के लिए उत्तरदायी नही है । व्याख्या / स्पष्टीकरण के लिए निवेशक कृपया सरकार एवं बैंक द्वारा समय -समय पर जारी संबंधित परिपत्र / अधिसूचना एवं सरकारी प्रतिभूति अधिनियम 2006 एवं सरकारी प्रतिभूति विनियम 2007 से मार्गदर्शन प्राप्त करें ।

A. The Promoters/Promoter Group cannot set up a bank directly. They have to first set up a wholly owned NOFHC, which will hold the bank and other regulated financial services entities/companies in which the Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard-23).NOFHC could be set-up with equity participation by a sub-set of non-financial services companies/entities/individuals and non-operative financial holding companies in the Promoter Group provided the equity participation is in conformity with the stipulation at para 2 (C) (ii) of the guidelines.

उत्तर. बैंकों और गैर-बैंकों द्वारा ज़ारी किए गए पीपीआई के मामले में, ग्राहक शिकायत निवारण के लिए रिजर्व बैंक - एकीकृत ओम्बड्समैन योजना, 2021 का सहारा ले सकते है। यह योजना आरबीआई की वेबसाइट https://cms.rbi.org.in लिंक पर उपलब्ध है।

उत्तर. एक पीपीआई जारीकर्ता ग्राहक को निम्नलिखित तीन प्रकारों में से कोई एक जारी कर सकता है:

ए) ₹10,000 तक के लघु पीपीआई (नकद लोडिंग सुविधा के साथ);

बी) ₹10,000 तक के लघु पीपीआई (कैश लोडिंग सुविधा के बिना); और

सी) पूर्ण-केवाईसी पीपीआई।

शेयरों, डिबेंचरों और सार्वजनिक क्षेत्र के उपक्रमों के बांडों की जमानत पर व्यक्तियों को स्वीकृत ऋण / अग्रिम, यदि प्रतिभूति भैतिक रूप में हो तो 10 लाख रुपये और यदि प्रतिभूति ‘अमूर्त’ रूप में हो तो 20 लाख रुपये से अधिक नहीं होना चाहिए। आरंभिक सार्वजनिक प्रस्ताव (आइपीओ) में अभिदान के लिए व्यक्ति को 10 लाख रुपये तक अधिकतम वित्त स्वीकृत किया जा सकता है। परंतु, बैंक को अन्य कंपनियों के आइपीओ में निवेश के लिए कंपनियों को वित्त उपलब्ध नहीं करना चाहिए। बैंक कर्मचारी स्टॉक विकल्प योजना (इएसओपी) के अंतर्गत कर्मचारियों को अपनी कंपनियों के शेयर खरीदने के लिए शेयरों के क्रय मूल्य के 90 प्रतिशत या 20 लाख रुपये, इनमें जो भी कम हो, तक अग्रिम स्वीकृत कर सकते हैं। आइपीओ में अभिदान के लिए व्यक्तियों को ऋण देने के लिए गैर-बैंकिंग वित्तीय कंपनियों को वित्त उपलब्ध नहीं कराया जाना चाहिए। आइपीओ में अभिदान के लिए बैंक द्वारा स्वीकृत ऋणों / अग्रिमों को पूंजी बाजार का एक्सपोज़र मानना चाहिए।

Banks may take necessary steps in the matter based on the settled legal position regarding enforcement of the declaration in case the remittance is made on behalf of a minor.

Yes, a person resident in India, being an individual, who is an employee or a director of Indian office or branch of a foreign company or of a subsidiary in India of a foreign company or of an Indian company in which foreign equity holding is not less than 51 per cent, may purchase the equity shares offered by the said foreign company: -Provided that the shares are offered at a concessional price.

बैंक, उपरोक्‍त दर्शित वित्‍तीय घाटे के लिए, निवेशक को क्षतिपूर्ति का भुगतान, 8% प्रतिवर्ष की स्थिर दर (10 अप्रैल 2012 से प्रभावी) पर करेंगे।

A. The Promoters/Promoter Group have to first set up a wholly owned NOFHC for holding the bank. They cannot set up a bank directly. In case, some entities/companies in the Promoter Group having ‘significant influence’ or ‘control’ (as defined in Accounting Standard-23) in regulated or unregulated financial services activities do not wish to participate in the voting equity of the NOFHC, they can do so. However, the regulated financial services entities, in which the companies in the Promoter Group have ‘significant influence’ or ‘control’ (as defined in Accounting Standard-23), have to come under the NOFHC. The unregulated financial services activities/entities of the Promoter Group cannot come under the NOFHC. [para 2 (C) (i), (ii), (iii) & (vii) of the guidelines]

No. The Scheme does not envisage extension of credit facility against the security of the deposits.

Yes, Reserve Bank has given general permission to a person resident of India to acquire foreign security to the extent of the minimum number of qualification shares required to be held for holding the post of Director and this amount shall not exceed 1% of the paid-up capital of the company subject to a limit of USD 20,000 in a calendar year.

शेयरों की जमानत /गारंटी जारी करने के आधार पर दिए गए सभी अग्रिमों के लिए 50 प्रतिशत का एकसमान मार्जिन निर्धारित किया गया है। इस 50 प्रतिशत के मार्जिन के भीतर पूंजी बाज़ार परिचालनों के संबंध में बैंकों द्वारा जारी गारंटियों के मामले में, कम से कम 25 प्रतिशत का नकद मार्जिन होना चाहिए।

उत्तर. ऊपर वर्णित प्रकारों में, यदि कोई पीपीआई जारीकर्ता विभिन्न कारणों (उदाहरण के लिए कई सह-ब्रांडिंग साझेदार, वॉलेट/कार्ड जैसे विभिन्न रूपों में पीपीआई ज़ारी करना) से एक ही ग्राहक को कई पीपीआई जारी कर रहा है, तब पीपीआई ज़ारीकर्ता केंद्रीकृत डेटाबेस/प्रबंधन सूचना प्रणाली (एमआईएस) के माध्यम से सीमाओं की निगरानी करेगा।

उदाहरण के लिए, किसी विशिष्ट पीपीआई ज़ारीकर्ता द्वारा विभिन्न व्यवस्थाओं/फॉर्म फैक्टर के तहत किसी ग्राहक को ज़ारी किए गए सभी पूर्ण-केवाईसी पीपीआई के मूल्य को मिलाकर किसी भी समय ₹2,00,000/- की सीमा की गणना की जाएगी। इसी तरह, एमडी-पीपीआई के पैराग्राफ 9.1 (i) में उल्लिखित ₹10,000 की सीमा सभी छोटे पीपीआई (विभिन्न व्यवस्थाओं / फॉर्म फैक्टर के तहत पीपीआई जारीकर्ता द्वारा जारी) के लिए है। एक पीपीआई जारीकर्ता एक ही समय में एक ही मोबाइल नंबर पर दोनों प्रकार के छोटे पीपीआई ज़ारी नहीं कर सकता है।

हालांकि, सीमाओं में एमडी-पीपीआई के पैराग्राफ 10 में उल्लिखित दो श्रेणियां (उपहार पीपीआई और पीपीआई-एमटीएस) शामिल नहीं हैं।

A. Yes. All the regulated financial services entities in which the Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) will have to be brought under the NOFHC as subsidiaries, or associates or joint ventures. [para 2 (C) (iii) & (vii) of the guidelines]

No. Banks in India can not open a foreign currency account in India for residents under the Scheme.

Yes, Reserve Bank on an application may permit a person resident in India to acquire foreign securities by way of rights shares issued by a company incorporated outside India up to an amount not exceeding US$ 20,000 in a block of five calendar years in case the existing shares were held in accordance with the provisions of the law.

हाँ. लाभ अर्जक बैंक एक वित्त वर्ष के दौरान पिछले वर्ष में बैंक के प्रकाशित लाभ की एक प्रतिशत राशि तक कुल दान दे सकते हैं, परंतु, प्रधान मंत्री राहत कोष तथा व्यावसायिक निकायों / संस्थाओं यथा भारतीय बैंक संघ, राष्ट्रीय बैंक प्रबंधन संस्थान, भारतीय बैंकर्स संस्थान, बैकिंग कार्मिक चयन संस्थान, भारतीय विदेशी मुद्रा व्यापारी संघ को वर्ष के दौरान दिया गया अंशदान /अभिदान उक्त उच्चतम सीमा में शामिल नहीं होगा। एक वर्ष के दौरान अनुमत सीमा की अप्रयुक्त राशि दान के उद्देश्य से अगले वर्ष के लिए आगे नहीं ले जायी जा सकती।

उत्तर. अंतरपरिचालनीयता तकनीकी अनुकूलता है जो किसी भुगतान प्रणाली को अन्य भुगतान प्रणालियों के संयोजन में उपयोग में लाने में सक्षम बनाती है। 16 अक्तूबर 2018 के परिपत्र के माध्यम से पीपीआई में अंतरपरिचालनीयता की अनुमति दी गई है और इसे 19 मई 2021 के परिपत्र के माध्यम से अनिवार्य कर दिया गया है।

A. The overall track record of the Promoters/Promoter Group for at least 10 years will be seen in all its activities both financial and non-financial. If some, but not all, companies forming part of the Promoter Group have been in existence for less than 10

उत्तर. कोई भी प्राधिकृत बैंक अथवा गैर-बैंक पीपीआई जारीकर्ता पीपीआई अंतरपरिचालनीयता की सुविधा प्रदान कर सकता है।

No. For the purpose of the Scheme, an OBU in India is not treated as an overseas branch of a bank in India.

Yes, Reserve Bank on an application will permit the individual employees/directors of an Indian promoter company engaged in the field of software for acquisition of shares of a JV/WOS abroad provided -the consideration for purchase does not exceed US$ 10,000 or its equivalent per employee in a block of five calendar years,the shares so acquired do not exceed 5% of the paid-up capital of the Joint Venture or Wholly Owned Subsidiary outside India, andafter allotment of such shares, the percentage of shares held by the Indian promoter company, together with shares allotted to its employees is not less than the percentage of shares held by the Indian promoter company prior to such allotment.Further, Reserve Bank may also on an application made to it by an Indian company engaged in the field of software allow its resident employees (including working directors) to purchase foreign securities under the ADR/GDR linked stock option scheme provided the consideration for purchase does not exceed US$ 50,000 or its equivalent in a block of five calendar years.

हाँ. हानि में चल रहे बैंक एक वित्त वर्ष के दौरान केवल 5 लाख रुपये तक दान दे सकते हैं।

A. The requirement that Promoters / Promoter Group should have a past record of sound credentials and integrity as a part of ‘Fit and Proper’ criteria is a matter of overall judgment and no indicative criteria can be spelt out. [para 2 (B) of the guidelines]

उत्तर. हां, पीपीआई जारीकर्ता के लिए अंतरपरिचालनीयता की अनुमति देना अनिवार्य है। पीपीआई जारीकर्ता के लिए प्राधिकृत कार्ड नेटवर्क और यूपीआई के माध्यम से पूर्ण-केवाईसी पीपीआई धारकों को अंतरपरिचालनीयता की सुविधा देना अनिवार्य है। स्वीकृति के सभी तरीके (क्यूआर कोड सहित) और पीपीआई जारी करने के लिए 31 मार्च 2022 तक अंतरपरिचालनीयता का होना आवश्यक है।

Reserve Bank has given general permission to mutual funds approved by SEBI to purchase foreign securities, subject to such terms and conditions as may be stipulated.

हां, बैंकों की विदेशी शाखाएँ विदेश में दान दे सकती हैं, बशर्तें बैंक पिछले वर्ष के प्रकाशित लाभ के एक प्रतिशत की निर्धारित उच्च्तम सीमा का अतिक्रमण नहीं करते।

A. No. NOFHC is to be wholly-owned by the Promoters/Promoter Group. Therefore, it cannot be a listed company. [para 2 (C) (i) of the guidelines]

उत्तर. अंतरपरिचालनीयता की अनुमति केवल पूर्ण-केवाईसी पीपीआई के लिए है।

i. बैंकों के निदेशक मंडल को बैंकों के उपयोग के लिए पट्टा/किराये के आधार पर परिसर लेने के संबंध में सभी पहलुओं को शामिल करते हुए नीति निर्धारित करनी चाहिए और महानगरीय, शहरी, अर्द्ध-शहरी और ग्रामीण क्षेत्रों के लिए अलग-अलग परिचालनात्मक दिशानिर्देश बनाना चाहिए। इन दिशानिर्देशों में विभिन्न स्तरों पर शक्तियों का प्रत्यायोजन भी शामिल होना चाहिए। ग्रामीण केंद्रों को छो?कर अन्य केंद्रों पर परिसर छो?ने या दूसरा परिसर लेने के संबंध में निर्णय केंद्रीय कार्यालय के स्तर पर वरिष्ठ कार्यपालकों की एक समिति द्वारा लिया जाना चाहिए।

ii. पट्टा /किराये के आधार पर परिसर देने वाले मकान मालिकों को ऋण मंजूर करने के संबंध में बैंक के निदेशक मंडल को अलग से नीति निर्धारित करनी चाहिए। ऐसे ऋणों पर ब्याज दर भारतीय रिज़र्व बैंक द्वारा जारी उधार दर संबंधी निदेशों के अनुरूप निर्धारित की जानी चाहिए तथा 2 लाख रुपये से अधिक के ऋण के मामले में न्यूनतम उधार दर बेंचमार्क मूल उधार दर (बीपीएलआर) होनी चाहिए। बैंक की सामान्य प्रथा के अनुरूप ब्याज दर साधारण या चक्रवृद्धि हो सकती है, जैसा कि अन्य मीयादी ऋणों पर लागू हो।

iii. मकान मालिकों की वास्तविक शिकायतों को शीघ्रता से दूर करने के लिए बैंकों को एक उपयुक्त पद्धति विकसित करनी चाहिए।

iv. सरकारी क्षेत्र के बेंकों द्वारा मकान मालिकों को दिए गए अग्रिमों तथा पट्टे /किराये पर लिए गए परिसरों पर किराये (कर आदि तथा 25 लाख रुपये और उससे अधिक की जमाराशियों सहित) के संबंध में तय की गयी संविदा के ब्यौरे सरकार के विद्यमान निर्देशों के अनुसार केंद्रीय अन्वेषण ब्यूरो को भेजे जाने चाहिए। यह अपेक्षा निजी क्षेत्र के बैंकों पर लागू नहीं होगी।

The shares of NOFHC can be held by individuals, corporate entities and companies belonging to the Promoter Group. An LLP and trust do not fall under any of these categories. Therefore, an LLP or trust cannot hold voting equity shares directly in the NOFHC but can hold indirectly through a company in the Promoter Group which holds voting equity shares of the NOFHC.

उत्तर. यदि पीपीआई को वॉलेट के रूप में जारी किया जाता है, तो सभी पीपीआई में अंतरपरिचालनीयता को यूपीआई के माध्यम से सक्षम किया जाएगा। यदि पीपीआई कार्ड के रूप में जारी किया जाता है, तो कार्ड अंतरपरिचालनीयता के लिए प्राधिकृत कार्ड नेटवर्क से संबद्ध होगा।

भारतीय बैंक संघ ने बैंकों द्वारा दी जाने वाली विभिन्न सेवाओं के लिए सेवा प्रभार निर्धारित करने की प्रथा बंद कर दी है। सितंबर 1999 से भारतीय रिज़र्व बैंक ने बैंकों को यह स्वतंत्रता दी है कि वे अपने निदेशक मंडल के अनुमोदन से सेवा प्रभार निर्धारित कर सकते हैं।

The shares of NOFHC can be held by individuals, corporate entities and companies belonging to the Promoter Group. An LLP and trust do not fall under any of these categories. Therefore, an LLP or trust cannot hold voting equity shares directly in the NOFHC but can hold indirectly through a company in the Promoter Group which holds voting equity shares of the NOFHC.

उत्तर. बैंक पीपीआई जारीकर्ता ग्राहक संरक्षण - अनधिकृत इलेक्ट्रॉनिक बैंकिंग लेनदेन में ग्राहकों की सीमित देयता विषय पर आरबीआई के परिपत्र डीबीआर.सं.लेग.बीसी.78/09.07.005/2017-18 दिनांकित 6 जुलाई 2017 अथवा डीसीबीआर.बीपीडी.(पीसीबी/आरसीबी).परि.सं.06/12.05.001/2017-18 दिनांकित 14 दिसंबर 2017 द्वारा निर्देशित होंगे।

Yes, loss making banks can make donations totaling Rs.5 lakhs only in a financial year.

A. The overall track record of the Promoters/Promoter Group for at least 10 years will be seen. If the Promoters/Promoter Group incorporates a new CIC for the purpose of holding shares in the NOFHC, the track record of the Promoters/Promoter Group setting up the CIC will be seen. [para 2 (B) (b) of the guidelines]

उत्तर. गैर-बैंक जारीकर्ताओं द्वारा जारी किए गए पीपीआई में अनधिकृत लेनदेन के खिलाफ ग्राहकों (पीपीआई धारकों) की देयता को सीमित करने की रूपरेखा एमडी-पीपीआई के पैरा 17 में दी गई है और यह 01 मार्च 2019 से प्रभावी है। नीचे दिए गए अक्सर पूछे जाने वाले प्रश्न गैर-बैंक पीपीआई जारीकर्ताओं द्वारा जारी पीपीआई से संबंधित हैं।

Yes, the overseas branches of the banks can make donations abroad, provided the banks do not exceed the prescribed ceiling of one per cent of their published profit of the previous year.

A. Promoter Group for the purpose of these guidelines will be as per the definition given in Annex I to the guidelines.

उत्तर. एमडी-पीपीआई के पैरा 10.2 के अंतर्गत जारी पीपीआई-एमटीएस को छोड़कर, यह ढांचा प्राधिकृत गैर-बैंक पीपीआई जारीकर्ताओं द्वारा जारी सभी पीपीआई पर लागू होता है। पीपीआई-एमटीएस में भी, जारीकर्ता की ओर से अंशदायी धोखाधड़ी/लापरवाही/कमी के मामलों को कवर किया जाता है।

i) Boards of Directors of the banks should lay down policy and formulate detailed operational guidelines separately in respect of metropolitan, urban, semi-urban and rural areas covering all areas in respect of acquiring premises on lease/rental basis for the bank's use including delegation of powers at various levels. The decision of surrender or shifting of premises other than at rural centres is taken at central office level by a committee of senior executives. ii) Banks' Boards should lay down a separate policy in respect of loans granted to landlords who provide to them premises on lease/rental basis. The rate of interest to be charged on such loans should be fixed as per the lending rate directives issued by RBI with minimum PLR for the loans above Rs. 2 lakhs. The rate of interest may be simple rate or compound rate as per the usual practice of the bank as applicable to other term loans. iii) Banks should evolve a suitable machinery for dealing with genuine grievances of the landlord for expeditious disposal. iv) In case of negotiated contracts in respect of advances to landlords and rental (including taxes etc. and deposits of Rs.25 lakhs and above) in respect of premises taken on lease/rental basis by public sector banks, the cases will be reported to Central Bureau of Investigation as per the extant Government instructions. This requirement is not applicable to banks in the private sector.

A. Merely holding 10 per cent of the free float in the listed CIC would not make the investor a Promoter. If the investor does not form a part of the Promoters/Promoter Group as per the definition given in Annex I to the guidelines, he would not be considered as a Promoter.

The banks have been given the freedom to determine the service charges to be levied from their customers and the RBI has not prescribed any ceilings in this regard.

उत्तर. इस एमडी के प्रयोजन के लिए, इलेक्ट्रॉनिक भुगतान लेनदेन निम्नलिखित हो सकते हैं-

ए. रिमोट/ऑनलाइन भुगतान लेनदेन: ऐसे लेनदेन जिनमें वास्तविक पीपीआई को लेनदेन के स्थान पर प्रस्तुत करने की आवश्यकता नहीं होती है, जैसे वॉलेट, कार्ड नॉट प्रेजेंट (सीएनपी) लेनदेन, आदि; तथा

बी. फेस-टू-फेस/निकटता भुगतान लेनदेन: ऐसे लेनदेन जिनमें लेनदेन के स्थान पर भौतिक पीपीआई की उपस्थिति की आवश्यकता होती है, जैसे एटीएम, पीओएस उपकरण आदि पर लेनदेन)।

A. It is essential that clause (b) of para 2(C)(ii) (i.e. not less than 51 per cent of the voting equity shares of the NOFHC to be held by companies in which the public hold not less than 51 per cent of the voting equity shares) is satisfied in all cases, whereas clause (a) of para 2(C) (ii) does not stipulate any minimum shareholding. Accordingly, it is not necessary that an individual, along with his relatives (as defined in Section 6 of the Companies Act, 1956) and along with entities in which he and/or his relatives hold not less than 50 per cent of the voting equity shares should hold shares in the NOFHC. [para 2 (C) (ii) of the guidelines]

उत्तर. इस ढांचे के तहत संरक्षण पाने के लिए, ग्राहक (पीपीआई धारक) के लिए एसएमएस अलर्ट के लिए पंजीकरण करना अनिवार्य है।

A. Yes. It would be possible for an individual belonging to the Promoter Group, along with his relatives (as defined in Section 6 of the Companies Act, 1956) and along with entities in which he and/or his relatives hold not less than 50 per cent of voting equity shares, to have significant holdings in other Promoter Group companies in which the public holds not less than 51 per cent of voting equity shares.

उत्तर. गैर-बैंक पीपीआई जारीकर्ताओं के लिए ग्राहक को उनके खाते में किसी भी भुगतान लेनदेन के लिए एक एसएमएस अलर्ट भेजना अनिवार्य है। इसके अलावा, जहां कहीं भी पंजीकृत है, एक ईमेल अलर्ट भी भेजा जा सकता है। लेनदेन अलर्ट में एक संपर्क नंबर और/अथवा ईमेल आईडी होना चाहिए, जिस पर ग्राहक अनधिकृत लेनदेन की रिपोर्ट कर सकता है अथवा आपत्ति की सूचना दे सकता है।

A company in which public holds 51 per cent need not necessarily be listed. For the purpose of these guidelines, ‘public shareholding’ implies that no person along with his relatives (as defined in Section 6 of the Companies Act, 1956) and entities in which he and / or his relatives hold not less than 50 per cent of the voting equity shares, by virtue of his shareholding or otherwise, exercises ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) over the company.[para 2 (C) (ii) of the guidelines]

उत्तर. गैर-बैंक पीपीआई जारीकर्ता ग्राहकों को अनधिकृत लेनदेन और/अथवा पीपीआई की क्षति अथवा चोरी की सूचना देने के लिए वेबसाइट/एसएमएस/ईमेल/समर्पित टोल-फ्री हेल्पलाइन के माध्यम से रात दिन सात दिन (24x7) पहुंच की सुविधा प्रदान करेंगे। इसके अलावा, अनधिकृत इलेक्ट्रॉनिक भुगतान लेनदेनों की सूचना देने के लिए विशिष्ट विकल्प के साथ शिकायत दर्ज करने के लिए एक सीधा लिंक गैर-बैंक पीपीआई जारीकर्ताओं द्वारा मोबाइल ऐप / उनकी वेबसाइट के होम पेज / किसी अन्य विकसित स्वीकृति मोड पर प्रदान किया जाएगा।

A company in which public holds 51 per cent need not necessarily be listed. For the purpose of these guidelines, ‘public shareholding’ implies that no person along with his relatives (as defined in Section 6 of the Companies Act, 1956) and entities in which he and / or his relatives hold not less than 50 per cent of the voting equity shares, by virtue of his shareholding or otherwise, exercises ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) over the company.[para 2 (C) (ii) of the guidelines]

उत्तर. अनधिकृत भुगतान लेनदेन अथवा लिखत की क्षति की सूचना मिलने पर, गैर-बैंक पीपीआई जारीकर्ता ग्राहक के पीपीआई खाते में और अधिक अनधिकृत भुगतान लेनदेन को रोकने के लिए तत्काल कार्रवाई करेंगे। इस तरह के एक लिखत के मामले में कोई और डेबिट लेनदेन की देयता जारीकर्ता की होगी।

Yes, to the extent permissible under the relevant laws. However, it will not be reckoned for the purpose of calculation of promoter shareholding in the NOFHC.

उत्तर. गैर-बैंक पीपीआई जारीकर्ता की ओर से हुई अंशदायी धोखाधड़ी/लापरवाही/कमी के मामलों में ग्राहक की देयता शून्य है। पीपीआई-एमटीएस जारीकर्ता भी ऐसे कृत्यों/घटनाओं के लिए कवर किए जाते हैं।

Yes, to the extent permissible under the relevant laws. However, it will not be reckoned for the purpose of calculation of promoter shareholding in the NOFHC.

उत्तर. ग्राहक के खाते में किसी भी अनधिकृत लेनदेन की सूचना देना हमेशा उचित होता है। तथापि, जारीकर्ता गैर-बैंक पीपीआई जारीकर्ता की ओर से हुई अंशदायी धोखाधड़ी/ लापरवाही/कमी के खिलाफ क्षतिपूर्ति से इस आधार पर इनकार नहीं कर सकता है कि ग्राहक ने अपने खाते में किसी भी अनधिकृत लेनदेन की सूचना नहीं दी है।

A. The percentage holding of the NOFHC/bank will be computed with reference to the date of the investment.

उत्तर. ऐसे मामलों में 'प्रति लेनदेन ग्राहक दायित्व' गैर-बैंक पीपीआई जारीकर्ता से ग्राहक द्वारा लेनदेन सूचना की प्राप्ति और गैर-बैंक पीपीआई जारीकर्ता को ग्राहक द्वारा अनधिकृत लेनदेन की रिपोर्टिंग के बीच व्यतीत दिनों की संख्या पर निर्भर करेगा। यदि जारीकर्ता को सूचना प्राप्त होने के तीन दिनों के भीतर सूचित किया जाता है, तो ग्राहक की देयता शून्य होगी। इसी तरह, सूचना प्राप्त होने के चार से सात दिनों के बीच रिपोर्ट किए गए ऐसे किसी भी लेनदेन के लिए, ग्राहक की देयता अधिकतम ₹10,000/ तक सीमित होगी। सात दिनों के बाद की गई रिपोर्टिंग वाले मामलों में गैर-बैंक पीपीआई जारीकर्ता की बोर्ड द्वारा अनुमोदित नीति के अनुसार कार्रवाई की जाएगी।

A. As per Para 2 C (vii) of the guidelines, only the regulated financial sector entities in which a Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) will be held under the NOFHC. Thus, the NOFHC does not need to wholly own the regulated financial services entities and direct participation in such entities by non-Promoter Group individuals/ companies is permitted. The pattern of shareholding and the capital requirements in the regulated financial services entities held by the NOFHC shall be as prescribed by the respective sectoral regulators. The FDI limits in such entities would be as per extant FDI policy of the Government of India/ Notifications issued under FEMA. As regards the bank, the foreign shareholding would be as per para 2 (F) of the guidelines.

उत्तर. ऊपर उल्लिखित दिनों की संख्या की गिनती गैर-बैंक पीपीआई जारीकर्ता से सूचना प्राप्त करने की तारीख को छोड़कर की जाएगी।

A. The bank as well as the other financial services entities in which the Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) and that are regulated by RBI or other financial sector regulators will have to be necessarily held under the NOFHC. If any financial service is not regulated by RBI or any of the other financial sector regulators, any entity in the Promoter Group providing such service, cannot come under the NOFHC. The Promoter Group will not be required to divest its holdings in such entities. [para 2 (C) (iii) of the guidelines]

उत्तर. ऐसे मामलों में जहां नुकसान ग्राहक की लापरवाही के कारण होता है, जैसे कि उसने भुगतान संबंधी जानकारी साझा किया है, ग्राहक पूरे नुकसान को तब तक वहन करेगा जब तक कि वह गैर-बैंक पीपीआई जारीकर्ता को अनधिकृत लेनदेन की रिपोर्ट नहीं करता।

A. If a Promoter Group entity rendering outsourced services is regulated by any of the financial sector regulators, it would come under the NOFHC. If the said entity is not regulated by any of the financial sector regulators, it cannot come under the NOFHC. The position remains the same irrespective of whether the outsourced services are provided to the regulated financial services entities of the group or to other group entities, including non financial services entities or to non-group entities. [para 2 (C) (vii) of the guidelines]

उत्तर. अनधिकृत लेनदेन की रिपोर्ट करने के बाद होने वाली किसी भी हानि को गैर-बैंक पीपीआई जारीकर्ता द्वारा वहन किया जाएगा।

Para 2(C)(iii) of the guidelines provide that only non-financial services companies/entities and non-operative financial holding company in the Group and individuals belonging to Promoter Group will be allowed to hold shares in the NOFHC. Accordingly, a non-operative financial holding company though regulated by RBI will remain outside NOFHC. NBFC (Investment Companies) which hold/deal in equity shares of Promoter Group Companies cannot be under the NOFHC because, in terms of para 2 (I) (IV) (a) of the Guidelines, the financial entities held by NOFHC shall not have any credit and investment (including investments in the equity/debt capital instruments) exposure to the Promoters/Promoter Group entities or individuals associated with the Promoter Group or the NOFHC. Therefore, NBFC (Investment Companies), which would include CICs and other non-operative holding companies, would remain outside NOFHC. However, if there are investments in voting equity shares of regulated financial sector entities in which the Group has significant influence or control, such entities will have to be brought under the NOFHC. ‘Investment Company’ as defined under para 2(I)(vi) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998, means any company which is a financial institution carrying on, as its principal business, the acquisition of securities.

उत्तर. गैर-बैंक पीपीआई जारीकर्ता ग्राहक द्वारा इस तरह की सूचना की तारीख से 10 दिनों के भीतर ग्राहक के पीपीआई में अनधिकृत इलेक्ट्रॉनिक भुगतान लेनदेन में शामिल राशि (नोशनल रिवर्सल / शैडो रिवर्सल) क्रेडिट करेगा। संबंधित प्रकार/श्रेणी के पीपीआई पर लागू अधिकतम अनुमत सीमा का उल्लंघन होने पर भी ऐसा रिवर्सल प्रभावी किया जाएगा। क्रेडिट अनधिकृत लेनदेन की तिथि के अनुसार मूल्य-दिनांकित होगा।

Para 2(C)(iii) of the guidelines provide that only non-financial services companies/entities and non-operative financial holding company in the Group and individuals belonging to Promoter Group will be allowed to hold shares in the NOFHC. Accordingly, a non-operative financial holding company though regulated by RBI will remain outside NOFHC. NBFC (Investment Companies) which hold/deal in equity shares of Promoter Group Companies cannot be under the NOFHC because, in terms of para 2 (I) (IV) (a) of the Guidelines, the financial entities held by NOFHC shall not have any credit and investment (including investments in the equity/debt capital instruments) exposure to the Promoters/Promoter Group entities or individuals associated with the Promoter Group or the NOFHC. Therefore, NBFC (Investment Companies), which would include CICs and other non-operative holding companies, would remain outside NOFHC. However, if there are investments in voting equity shares of regulated financial sector entities in which the Group has significant influence or control, such entities will have to be brought under the NOFHC. ‘Investment Company’ as defined under para 2(I)(vi) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998, means any company which is a financial institution carrying on, as its principal business, the acquisition of securities.

उत्तर. इस प्रकार प्राप्त नोशनल क्रेडिट का उपयोग गैर-बैंक पीपीआई जारीकर्ता द्वारा शिकायत के समाधान और ग्राहक की देयता स्थापित करने पर किया जा सकता है। तथापि, किसी भी परिस्थिति में, यह अवधि शिकायत प्राप्त होने की तारीख से 90 दिनों से अधिक नहीं हो सकती है।

It is not necessary that a NOFHC should be held only by non-financial services companies/ entities. It can be held by a CIC or a non-operating holding company. The regulated financial business / entities of the holding company, if any, cannot remain with the holding company. It has to come under the NOFHC. [para 2 (C) (iii) & (vii) of the guidelines]

उत्तर. अनधिकृत इलेक्ट्रॉनिक भुगतान लेनदेन के मामले में ग्राहक के दायित्व को साबित करने का भार गैर-बैंक पीपीआई जारीकर्ता पर होता है।

It is not necessary that a NOFHC should be held only by non-financial services companies/ entities. It can be held by a CIC or a non-operating holding company. The regulated financial business / entities of the holding company, if any, cannot remain with the holding company. It has to come under the NOFHC. [para 2 (C) (iii) & (vii) of the guidelines]

A. a (i) There would be no relaxation for the pattern of shareholding in the NOFHC with regard to the provisions at the para 2 (C) (iii) of the guidelines

(ii) For the purpose of these guidelines, NBFC (Investment Companies) (which would include CIC and a non-operative holding company) would be held outside the purview of the NOFHC. [para 2 (C) (iii) of the guidelines]. The regulated financial business/entities of the holding company, if any, cannot remain with the holding company. It has to come under the NOFHC. [para 2 (C) (iii) & (vii) of the guidelines]

(iii) In the case of other NBFCs in which public holds more than 51 percent of voting equity shares, wishes to set up a bank or convert itself into a bank, it must transfer all its regulated financial services business to a separate company/companies and transfer the shareholding in such companies to the NOFHC. After it has transferred the regulated financial services business, it can set up a NOFHC, provided it meets the requirements of para 2 (C) (ii) and (iii) of the guidelines.

(b) As stated above, before the listed NBFC holds shares in the NOFHC, it must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the listed NBFC into a listed non operating holding company would enable meeting the requirement of para 2(C) (iii) of the guidelines provided the listed non operating holding company meets the requirement of para 2(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

A. Yes. An existing non-operating listed holding company, with more than 51 percent public shareholding, will be eligible to promote a Non-Operative Financial Holding Company (NOFHC). [para 2 (C) (ii) (b) and 2 (C) (iii) of the guidelines]

A. A non operating holding company being a promoter of NOFHC and holding investments in unregulated financial sector entities and non financial sector entities will be required to be registered as a CIC with RBI if it meets the criteria laid down in para 2 and 3 (h) of Notification No DNBS.PD. 219/CGM(US)-2011 dated January 05, 2011 regarding Regulatory Framework for Core Investment Companies.

A. NOFHC, being a non-operative financial holding company, cannot hold physical assets belonging to the Group and charge for them on an arm’s length basis. A holding company of the Promoter Group, which holds the NOFHC can undertake related businesses such as technology services or banking correspondent services or distribution services on its own, or through a subsidiary. If the non-operative holding company is a CIC or NBFC, the relevant regulations will be applicable.

A. No. An existing non-operating listed holding company, with more than 51 per cent public shareholding cannot operate as the NOFHC as the NOFHC has to be wholly-owned by the Promoter / Promoter Group. The above cited example does not meet this criteria as the non-operating listed holding company has equity shareholding from non-promoters/promoter group entities. However, this existing non-operative listed holding company in which public shareholding exceeds 51 per cent can promote a NOFHC.

A non operating holding company being a promoter of NOFHC will be required to be registered as a CIC with RBI if it meets the stipulated criteria.

If the non operating holding company does not meet the criteria for being defined as a Core Investment Company but is an NBFC (Investment Company) it will be required to be registered with RBI as NBFC(Investment Company).

A. For the purpose of these guidelines, the investment company (SPV/CIC) that holds shares only in non-financial companies of the Promoter Group would not be considered as a financial services company and would be held outside the purview of the NOFHC. [para 2 (C) (iii) of the guidelines]

A. A non-operative financial holding company is a company which has no operational activities and holds the non-financial sector companies of the Promoter Group and which has no subsidiaries, joint venture or associate or other controlled entities in the financial sector except investments in the NOFHC. Such company can hold voting equity shares in the NOFHC in accordance with Paragraph 2 (C) (ii) and (iii) of the guidelines. The said holding company can hold upto 100 per cent of the voting equity of the NOFHC, if it has public shareholding of not less than 51 per cent. [para 2 (C)(ii)(b) of the guidelines].

A. NOFHC cannot provide any advisory services to any entity both within the Group and outside the Group. The NOFHC can make investment in bank deposits, money market instruments, government securities and actively traded bonds and debentures besides lending to or investing in entities that are held under it. [para 2(H)(i)(c) of the guidelines]

A. (a) It is not necessary that there has to be an individual promoter. The company wherein 100% of voting equity shares are held by the public can set up the NOFHC and hold to the extent of 100% of the voting equity shares of the NOFHC if such a company is a non-financial services company or a non-operating financial holding company in the group. Further, the company itself will be deemed to be the Promoter and all the provisions of the guidelines applicable to the Promoter and the Promoter Group will apply to it.

(b) The listed company cannot be the NOFHC. It will need to form a NOFHC which is wholly owned by it. The number of independent Directors on the Board of the NOFHC should be in compliance with the provisions of paragraph 2 (G) (iv) of the guidelines.

A. For the purpose of these guidelines, a non-operative holding company that holds shares only in non-financial companies of the Promoter Group would not be considered as a financial services company and would be held outside the purview of the NOFHC.

A. Promoter Group entities, which hold investments in group companies or investments in the normal course of business, are not required to come under the NOFHC. They can hold shares in the NOFHC, provided the conditions stipulated in para 2(C) (ii) & (iii) of the guidelines are met.

A. No. A financial services company of the Promoter Group cannot participate in the voting equity shares of the NOFHC.

If the Promoters/Promoter Group which has a financial services company, listed or otherwise, wishes to set up a bank, the said financial services company must transfer all its regulated financial services business to a separate company/companies and transfer the shareholding in such companies to the NOFHC. After it has transferred the regulated financial services business, it will cease to be a financial services company, and it can set up a NOFHC provided, the public shareholding in it is not less than 51 per cent. [ Paragraph 2(C)(ii) and (iii) of the guidelines]

A non operating holding company that holds investments in unregulated financial sector entities and non financial sector entities will be eligible to hold voting equity shares in the NOFHC. It will be required to be registered as a CIC or NBFC with RBI if it meets the stipulated criteria.

A non operating holding company that holds investments in unregulated financial sector entities and non financial sector entities will be eligible to hold voting equity shares in the NOFHC. It will be required to be registered as a CIC or NBFC with RBI if it meets the stipulated criteria.

A. Activities such as credit cards, primary dealer, leasing, hire purchase, factoring etc., can be conducted by a bank departmentally or through a separate entity or entities outside the bank. If such an activity is to be carried through a separate entity, then it should be carried on by a subsidiary, joint venture or associate of the NOFHC, and not of the bank, unless it is legally required or specifically permitted by RBI. [para 2 (C) (iv) of the guidelines].

A. As per the extant instructions, prior permission of RBI is necessary for the banks to invest in the equity of subsidiaries and financial services entities. Accordingly, banks would require RBI’s approval for setting up subsidiaries / joint ventures / associates for conducting activities permitted to banks under Section 6 of the BR Act, 1949. The general principle in this regard is that para-banking activities, such as credit cards, primary dealer, leasing, hire purchase, factoring etc., can be conducted either inside the bank departmentally or outside the bank through subsidiary/ joint venture /associate. Activities such as insurance, stock broking, asset management, asset reconstruction, venture capital funding and infrastructure financing through Infrastructure Development Fund (IDF) sponsored by the bank can be undertaken only outside the bank. Lending activities must be conducted from inside the bank. However, other regulated financial servicesentities (excluding entities engaged in credit rating and commodity broking) in which the Promoter/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held under the NOFHC and not under the bank unless it is legally required or specifically permitted by RBI. [para 2 (C) (iv) of the guidelines].

A. In the normal course, a bank held under the NOFHC will not be permitted to have subsidiaries. A subsidiary of the bank can be set up only where it is legally required or specifically permitted by RBI [para 2(C) (vi) of the guidelines]. FDI investments in the subsidiary of the bank or in the financial services entities held under the NOFHC would be as per the DIPP guidelines of Government of India/Notifications issued under FEMA.

A. Setting-up would mean incorporating a new entity or acquiring shares in an existing entity in which the Promoter Group will have ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) and which carries on regulated financial services business whereby such entities would be required to be a subsidiary, joint venture or associate of the NOFHC. [para 2 (C) (vi) of the guidelines]

A. Normally the bank will not be permitted to set up a subsidiary / joint venture under it. However, a bank may be permitted to set-up a subsidiary / joint venture under it, where it is legally required or specifically permitted by RBI (For example, a banking subsidiary for carrying on the business of banking exclusively outside India). [para 2 (C) (vi) of the guidelines]

A. Promoters/Promoter Groups will not be permitted to set up any new financial services entity within three years from the date of commencement of business of the NOFHC, even if such intention is mentioned in the applications. [para 2 (C) (vi) of the guidelines]

A. Yes. The financial services entities of the Promoter Group which are not regulated by RBI or any other financial sector regulator cannot be brought under the NOFHC structure. [para 2 (C) (iii) of the guidelines]