FAQ Page 1 - ಆರ್ಬಿಐ - Reserve Bank of India
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Content Type:
Core Investment Companies
Core Investment Companies (CICs)
Ans:. Yes. As per the present directions for CICs, they are permitted to make investments in money market instruments, including money market mutual funds. Since Liquid Funds are also mutual funds with the underlying being money market instruments; CICs are permitted to invest their surplus funds in Liquid Fund Schemes also.
All you wanted to know about NBFCs
D. Definition of deposits, Eligible / Ineligible Institutions to accept deposits and Related Matters
No. These societies are formed for salaried employees and hence they can accept deposit only from their own members and not from general public.
Foreign Investment in India
III. Investment in other securities
Answer: Investment made by an Investment Vehicle into an Indian company or an LLP will be indirect foreign investment for the investee company or the LLP, as the case may be, if either the Sponsor or the Manager or the Investment Manager (i) is not owned and not controlled by resident Indian citizens or (ii) is owned or controlled by persons resident outside India.
Domestic Deposits
IV. Advances against shares and debentures
The bills covering payment of electricity charges, customs duty, hire purchase/ lease rental installments, sale of securities and other types of financial accommodation should not be discounted by banks.
Retail Direct Scheme
Investment and Account holdings related queries
No fee will be charged for opening and maintaining the Retail Direct Gilt (RDG) account with RBI. No fee will be charged by RBI at the time of submission of bids in primary auctions. However, applicable payment gateway charges will have to be borne by the investor while funding his/her purchases.
Indian Currency
E) Counterfeits/Forgeries
A suspected forged note, counterfeit note or fake note is any note which does not possess the characteristics of genuine Indian currency note.
Foreign Investment in India
III. Investment in other securities
Answer: An Alternative Investment Fund (Category III) with foreign investment can make portfolio investment in only those securities or instruments in which an FPI is allowed to invest under the Act, rules or regulations made thereunder.IV. Reporting Delays
FAQs on Non-Banking Financial Companies
Extent of regulations over NBFCs accepting public deposits and not accepting public deposits
The NBFCs accepting public deposits shall furnish to RBI Certificate from the Auditors regarding solvency of the company in repayment of the deposits as and when the claims arise; Balance Sheet and the Auditors Reports submitted to the Board of Directors as also to the Shareholders of the company; Statutory Annual Return on deposits in the First Schedule; Quarterly Return on liquid assets; Half-yearly Return on prudential norms; and a copy of the Credit Rating once a year alongwith one of the Half-yearly Returns on prudential norms as at (v) above.
External Commercial Borrowings (ECB) and Trade Credits
K. MISCELLANEOUS
No.
All you wanted to know about NBFCs
D. Definition of deposits, Eligible / Ineligible Institutions to accept deposits and Related Matters
Yes, nomination facility is available to the depositors of NBFCs. The Rules for nomination facility are provided for in section 45QB of the Reserve Bank of India Act, 1934. Non-Banking Financial Companies have been advised to adopt the Banking Companies (Nomination) Rules, 1985 made under Section 45ZA of the Banking Regulation Act, 1949. Accordingly, depositor/s of NBFCs are permitted to nominate one person to whom the NBFC can return the deposit in the event of the death of the depositor/s. NBFCs are advised to accept nominations made by the depositors in the form similar to one specified under the said rules, viz Form DA 1 for the purpose of nomination, and Form DA2 and DA3 for cancellation of nomination and change of nomination respectively.
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