Answer: The balance in Special Rupee Vostro Account (SRVA) can be repatriated in freely convertible currency and/or currency of the beneficiary trading partner country depending on underlying transaction i.e. for which the account was credited. For example, for import payments through SRVA like any Rupee Vostro account the fund can be remitted to overseas exporter either in freely convertible currency or in domestic currency of the overseas exporter.

Ans. KYC Identifier means the unique number or code assigned to a customer of an RE by the Central KYC Records Registry (CKYCR). If the customer approaches an RE for opening an account, he can provide his KYC Identifier and give consent to the RE to download the valid KYC data from CKYCR. This can obviate the need for the customer to submit KYC documents again while opening an account with another RE.

Response: Joint deposit of two or more eligible depositors is allowed under the scheme. The deposit will be credited to a joint deposit account opened in name of such depositors. The existing rules on joint operation of bank accounts including nomination will be applicable.

No, there is no application fee for applying to IoRS. However, for testing under IoRS the sandbox fee, if any, of the PR concerned may be applicable.

Ans. A Small PPI (with cash loading facility) can be held for a maximum period of 24 months only. The 24 months shall be counted from the day of opening such a PPI. Within this period of 24 months, it has to be converted into a full-KYC PPI failing which, no further credit in such PPI shall be allowed. However, the PPI holder shall be allowed to use the available balance.

ಹೌದು. ದಯವಿಟ್ಟು ಮೇಲಿನ ಪ್ರಶ್ನೆಯ [ಪ್ರಶ್ನೆ ಸಂಖ್ಯೆ 13] ಉತ್ತರ ನೋಡಿರಿ.
ಆದರೆ ಬ್ಯಾಂಕು ಹೆಚ್ಚು ಶುಲ್ಕ ವಿಧಿಸದಿದ್ದರೆ ಮತ್ತು ಬಿಡಿಬಿಡಿಎ ಖಾತೆಗಳಲ್ಲಿ ನಿಗದಿ ಪಡಿಸಿದವುಗಳಿಗಿಂತ ಕನಿಷ್ಠ ಬ್ಯಾಲೆನ್ಸ್ ಇಲ್ಲದೆ ಹೆಚ್ಚು ಸೌಲಭ್ಯಗಳನ್ನು ಉಚಿತವಾಗಿ ನೀಡಿದರೆ ಅಂತಹ ಖಾತೆಗಳನ್ನು ಬಿಎಸ್ಬಿಡಿಎ ಎಂದು ಗುರುತಿಸಬಹುದು.

Ans : Yes, the banking system too benefits from ECS Credit Scheme such as –

• Freedom from paper handling and the resultant disadvantages of handling, presenting and monitoring paper instruments presented in clearing. Ease of processing and return for the destination bank branches.

• Smooth process of reconciliation for the sponsor banks.

• Cost effective.

• IIBs would be a G-Sec and issued as part of the approved Government market borrowing programme.

• Therefore, IIBs would automatically get SLR status.