All complaints involving ‘deficiency in service’ on the part of the RE, except for those listed under Question 14 below are handled under the RB-IOS, 2021. ‘Deficiency in service’ has been defined in RB-IOS, 2021 as ‘any shortcoming or inadequacy in any financial service, which the Regulated Entity of RBI is required to provide statutorily or otherwise, which may or may not result in financial loss or damage to the customer’.

ಉತ್ತರ. ಬಿಎಸ್ಬಿಡಿಎಯಿಂದ ಹಿಂಪಡೆತಗಳ ಸಂಖ್ಯೆಯು ಅಂತಹ ಖಾತೆಗಳೊಂದಿಗಿನ ನಿಬಂಧನೆಗಳಿಗೆ ಒಳಪಟ್ಟಿರುವುದರಿಂದ ಮೇಲಿನವು ಬಿಎಸ್ಬಿಡಿಎಗೆ ಅನ್ವಯಿಸುವುದಿಲ್ಲ.

Banks may be guided by para 3.2.3 of the Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated April 1, 2023, as per which in respect of NPAs, fees, commission and similar income that have accrued should cease to accrue in the current period and should be reversed with respect to past periods, if uncollected. Accordingly, in respect of NPA accounts, penal charges shall be reversed to the extent it remains uncollected for the specific purpose of non-recognition of income. However, the same shall be part of the total liability of the borrower to the lender, unless it is waived as per the bank’s Board approved policy.

Response: Banks and the CPTCs/GMCTAs may put in place a mutually acceptable procedure in this regard and notify that to the relevant CPTCs/GMCTAs.

Ans. The exemption provided by the Reserve Bank to ‘Not for Profit’ companies (i.e., companies incorporated under Section 8 of the Companies Act, 2013 or Section 25 of the Companies Act, 1956) is applicable to those which are providing microfinance loans as defined in the directions and subject to conditions specified in para 2(i) of our ‘Master Direction – Exemptions from the provisions of RBI Act, 1934’ dated August 25, 2016 (as amended from time to time). This exemption is not applicable to other ‘Not for Profit’ companies engaged in NBFI business and it is incumbent upon such companies to obtain a certificate of registration under Section 45-IA of the Reserve Bank of India Act, 1934 in case these companies are fulfilling the ‘Principal Business Criteria’ as specified in our Press Release 1998-99/1269 dated April 08, 1999.

Ans. Cash withdrawal or funds transfer from these two types of Small PPIs is not permitted.

ಹೌದು. ನಿಗದಿಸಲ್ಪಟ್ಟ ಕನಿಷ್ಠ ಸೇವೆಗಳಲ್ಲದೆ ಹೆಚ್ಚಿನ ಸೇವೆಗಳನ್ನು ನೀಡುವುದನ್ನು ಬ್ಯಾಂಕುಗಳ ವಿವೇಚನೆಗೆ ಬಿಡಲಾಗಿದೆ ಅವರು ಹೆಚ್ಚಿನ ಸೇವೆಗಳನ್ನು ಉಚಿತವಾಗಿ ನೀಡಬಹುದು ಅಥವಾ ಹೆಚ್ಚಿನ ಮೌಲ್ಯವರ್ಧಿತ ಸೇವೆಗಳಿಗೆ ವಿಧಿಸುವ ಶುಲ್ಕದ ಬಗ್ಗೆ ಅವಶ್ಯಕತೆಗಳನ್ನು ನಿರ್ಮಿಸಿ, ಸಮಂಜಸವಾದ, ಪಾರದರ್ಶಕವಾದ ಮತ್ತು ತಾರತಮ್ಯವಲ್ಲದ ರೀತಿಯಲ್ಲಿ, ಗ್ರಾಹಕರಿಗೆ ಮುನ್ಸೂಚನೆ ಕೊಟ್ಟು, ನೀಡಬಹುದು. ಮೌಲ್ಯವರ್ಧಿತ ಸೇವೆಗಳಿಗೆ ವಿಧಿಸುವ ಶುಲ್ಕದ ವಿಷಯವಾಗಿ ಸಮಂಜಸವಾದ ಶುಲ್ಕಪಟ್ಟಿಯನ್ನು ಅಥವಾ ಕನಿಷ್ಠ ಬ್ಯಾಲೆನ್ಸ್ ಅವಶ್ಯಕತೆಯನ್ನು ರಚಿಸಿ, ಅದನ್ನು ಸರಿಯಾಗಿ ಕಾಣುವಂತೆ ಪ್ರದರ್ಶಿಸಬೇಕು ಮತ್ತು ಖಾತೆ ತೆರೆಯುವಾಗ ಗ್ರಾಹಕರಿಗೆ ತಿಳಿಸಬೇಕು. ನೀಡುವ ಅಂತಹ ಕೊಡುಗೆಗಳು 'ಬೇಸಿಕ್ ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಡಿಪೋಸಿಟ್ ಅಕೌಂಟ್' ಗ್ರಾಹಕರಿಗೆ ತಾರತಮ್ಯರಹಿತ ಹಾಗೂ ವಿವೇಚನಾಯುಕ್ತವಾಗಿದ್ದು, ಪಾರದರ್ಶಕತೆಯಿಂದ ಕೂಡಿರಬೇಕು. ಆದಾಗ್ಯೂ ಅಂತಹ ಹೆಚ್ಚಿನ ಸೌಲಭ್ಯಗಳನ್ನು ಹೊಂದಿರುವ ಖಾತೆಗಳನ್ನು ಬಿಎಸ್ಬಿಡಿಎಗಳೆಂದು ಪರಿಗಣಿಸಲಾಗದು.

Ans : User institutions enjoy many advantages as well. For instance,

• Savings on administrative machinery and costs of printing, dispatch and reconciliation of paper instruments that would have been used had beneficiaries not opted for ECS Credit.

• Avoid chances of loss / theft of instruments in transit, likelihood of fraudulent encashment of paper instruments, etc. and subsequent correspondence / litigation.

• Efficient payment mode ensuring that the beneficiaries get credit on a designated date.

• Cost effective.

Residents are permitted to hold foreign currency up to US$2,000 or its equivalent provided the foreign exchange was -

1. acquired by him while on a visit to any place outside India by way of payment for services not arising from any business in or anything done in India;

or

2. acquired by him, from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation,

or

3. acquired by him by way of honorarium or gift while on a visit to any place outside India;

or

4. acquired by him from an authorised person for travel abroad and represents the unspent amount thereof.

Before a loan account of a Micro, Small and Medium Enterprise 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