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Sovereign Gold Bond Scheme

15. Who are the authorized agencies selling the SGBs? +

Bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India Ltd. (SHCIL) and the authorised stock exchanges either directly or through their agents.

Q 15. Are there any restrictions on the kind/quality of debt or equity instruments an individual can invest in? +

Ans. No ratings or guidelines have been prescribed under LRS of USD 2,50,000 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 and such investments shall be in accordance with Overseas Investment Rules and Regulations, 2022 and the directions made thereunder.

15. Is there any limit on the number of cards that a customer can request for tokenisation? +

Ans. A customer can request for tokenisation of any number of cards. For performing a transaction, the customer shall be free to use any of the cards registered with the token requestor app.

Q.15. Since the Promoters / Promoter Groups with an existing NBFC will have to set up NOFHC, whether such NOFHC will also have to comply with 51 per cent public holding condition? +

A. The NOFHC has to be wholly owned by the Promoters/Promoter Group. However, at least 51 per cent of the voting equity shares of the NOFHC have to be held by companies in the Promoter Group in which public hold not less than 51 per cent of the voting equity of those companies.[para 2 (C) (ii) (b) of the guidelines]

Q 15: Cheque bounce or mandate failure charges are levied on per instance/occurrence basis. Is it mandatory to annualize these charges also? +

Ans: Penal charges such as cheque bounce/mandate failure charges, which are necessarily levied on a per instance basis may not be annualized. However, these charges must be disclosed separately in the KFS under ‘Details about Contingent Charges’.

Q.15. How does the application for compounding finally get disposed of? +

Ans. On realization of the sum for which contravention is compounded, a certificate shall be issued by the Reserve Bank, indicating that, the applicant has complied with the order passed by the Compounding Authority.

15. If two or three units of a company are located in India and another unit is located outside India say in UK, then should they participate separately in the ITES survey?

Ans.: Company has to submit only one form aggregating all the units in India. However, for the units abroad, the information should be provided in Part D of the schedule.

15. Whom can one reach out to for support/disputes related to e₹?

Ans: Users can raise disputes via their e₹ wallet app or reach out to their customer care centre.

15. Whether the prescribed instructions on penal charges are applicable in case of securitisation and co-lending portfolios?

Yes. The prescribed instructions on penal charges are also applicable in case of securitisation and co-lending portfolios.

Q 15. Whether banks can pay any fees /brokerage/commission for mobilizing deposits?

Ans. No. In terms of paragraph 29.1 of these Directions, banks cannot pay any remuneration or fees or commission or brokerage or incentives on deposits in any form or manner to any individual, firm, company, association, institution or any other person except:

commission paid to agents employed to collect door-to-door deposits under a special scheme.
commission paid to Direct Selling Agents/ Direct Marketing Agents as part of the outsourcing arrangements by commercial banks
remuneration paid to Business Facilitators or Business Correspondents.
incentives granted to staff members of co-operative banks as approved by Reserve Bank of India from time to time.