FAQ Page 1 - ಆರ್ಬಿಐ - Reserve Bank of India
External Commercial Borrowings (ECB) and Trade Credits
D. RECOGNISED LENDERS/ INVESTORS
Core Investment Companies
Core Investment Companies (CICs)
Ans: These would include real estate or other fixed assets which are required for effective functioning of a company, but should not include other financial investments/loans in non group companies.
FAQs on Non-Banking Financial Companies
Definition of public deposits
Business restrictions imposed on Paytm Payments Bank Limited vide Press Releases dated January 31 and February 16, 2024
Bank Accounts with Paytm Payments Bank
Coordinated Portfolio Investment Survey – India
Important points to remember while participating in CPIS
Ans: The reporting entities should follow the below-mentioned points for filling and submitting the survey schedule:
i. The company must use the latest survey schedule, which is in .xls format, without incorporating any macros.
ii. The company is required to save the survey schedule in Excel 97-2003 workbook, i.e., in .xls format by following the below-mentioned steps:
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Go to Office Button / File → Save As → Save As type
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Select “Excel 97-2003 Workbook” and Save the survey schedule in .xls format.
iii. The company is requested not to incorporate any macro in the survey schedule while submitting the same.
iv. Survey schedule submitted in any other format (other than .xls format) will be rejected by the system.
v. Ensure that all information furnished in the survey schedule are complete and no information is missed out.
vi. After filling required details, the responding entities have to fill the declaration present in the survey schedule, which helps in validating that the information entered by the entity are reconfirmed before submission to RBI. This helps to avoid data entry errors, missed data and other errors.
Remittances (Money Transfer Service Scheme (MTSS) and Rupee Drawing Arrangement (RDA))
Money Transfer Service Scheme (MTSS)
Biennial survey on Foreign Collaboration in Indian Industry (FCS)
Details of survey launch
Ans.: Companies, who have inward FDI along with foreign technical collaboration (FTC) agreements can participate in this survey.
Retail Direct Scheme
Account opening related queries
The following documents are mandatory to open the RDG account
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PAN
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Mobile number
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E-mail address
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Scanned copy of your signature
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Bank account details (by uploading a cancelled cheque or manually entering the details on the portal)
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Aadhaar number with mobile number linked to it
In addition, you may be required to provide an address proof to complete your Know Your Customer (KYC) process. The following documents are accepted as an address proof - Passport, Driving License, Voter ID, Aadhaar, NREGA job card duly signed by the State Government, Letter issued by the National Population Register containing your name and address.
Housing Loans
Sometimes loan is disbursed in installments, depending on the stages of completion of the housing project. Pending final disbursement, you may be required to pay interest only on the portion of the loan disbursed. This interest called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.
However, many banks offer a special facility whereby customers can choose the installments they wish to pay for under construction properties till the time the property is ready for possession. Anything paid over and above the interest by the customer goes towards Principal repayment. The customer benefits by starting EMI payment earlier and hence repays the loan faster. Please check with your banker whether this facility is available before availing of the loan.
Indian Currency
B) Banknotes
As per Section 26 of Reserve Bank of India Act, 1934, the Bank is liable to pay the value of banknote. This is payable on demand by RBI, being the issuer.
The promissory clause printed on the banknotes i.e., "I promise to pay the bearer the sum of Rupees …” denotes the obligation on the part of the Bank towards the holder of the bank note.