New FAQ Page 2 - ಆರ್ಬಿಐ - Reserve Bank of India
Content Type:
Money Changing Activities
Franchisees are required to strictly adhere to the AML / KYC/ CFT guidelines, as applicable to ADs Category–I Banks / ADs Category – II / FFMCs.
Franchisees are required to strictly adhere to the AML / KYC/ CFT guidelines, as applicable to ADs Category–I Banks / ADs Category – II / FFMCs.
Note: No licence for appointment of franchisees will be issued to any FFMC / non-bank AD Category - II, against whom any major DoE / DRI / CBI / Police case is pending. In case where any FFMC / non-bank AD Category - II has received one-time approval for appointing franchisees and subsequent to the date of approval, any DoE / DRI / CBI / Police case is filed, the FFMC / non-bank AD Category - II should not appoint any further franchisees and bring the matter to the notice of the Reserve Bank immediately. A decision will be taken by the Reserve Bank regarding allowing the FFMC / non-bank AD Category - II to appoint franchisees.
-
To begin with, IIBs will be issued for 10 years.
-
As it is advisable to issue IIBs at various maturity points to have benchmarks and cater to diverse market demands, more maturity points may be explored subsequently.
EXAMPLE OF EMI CALCULATION (PURE FIXED LOAN)
|
|
Amount of Loan |
1,000,000.00 |
|
|
|
|
Annual Interest Rate |
15.00% |
|
|
|
|
Number of Payments |
120 |
|
|
|
|
Monthly Payment |
16,133.50 |
|
|
|
Number |
Payment |
Interest |
Principal |
Balance |
|
0 |
|
|
|
1,000,000.00 |
|
1 |
16,133.50 |
12,500.00 |
3,633.50 |
996,366.50 |
|
2 |
16,133.50 |
12,454.58 |
3,678.91 |
992,687.59 |
|
3 |
16,133.50 |
12,408.59 |
3,724.90 |
988,962.69 |
|
4 |
16,133.50 |
12,362.03 |
3,771.46 |
985,191.23 |
|
5 |
16,133.50 |
12,314.89 |
3,818.61 |
981,372.62 |
|
6 |
16,133.50 |
12,267.16 |
3,866.34 |
977,506.28 |
|
7 |
16,133.50 |
12,218.83 |
3,914.67 |
973,591.62 |
|
8 |
16,133.50 |
12,169.90 |
3,963.60 |
969,628.02 |
|
9 |
16,133.50 |
12,120.35 |
4,013.15 |
965,614.87 |
|
10 |
16,133.50 |
12,070.19 |
4,063.31 |
961,551.56 |
|
11 |
16,133.50 |
12,019.39 |
4,114.10 |
957,437.46 |
|
12 |
16,133.50 |
11,967.97 |
4,165.53 |
953,271.93 |
|
13 |
16,133.50 |
11,915.90 |
4,217.60 |
949,054.34 |
|
14 |
16,133.50 |
11,863.18 |
4,270.32 |
944,784.02 |
|
15 |
16,133.50 |
11,809.80 |
4,323.70 |
940,460.32 |
|
16 |
16,133.50 |
11,755.75 |
4,377.74 |
936,082.58 |
|
17 |
16,133.50 |
11,701.03 |
4,432.46 |
931,650.12 |
|
18 |
16,133.50 |
11,645.63 |
4,487.87 |
927,162.25 |
|
19 |
16,133.50 |
11,589.53 |
4,543.97 |
922,618.28 |
|
20 |
16,133.50 |
11,532.73 |
4,600.77 |
918,017.51 |
|
21 |
16,133.50 |
11,475.22 |
4,658.28 |
913,359.24 |
|
22 |
16,133.50 |
11,416.99 |
4,716.51 |
908,642.73 |
|
23 |
16,133.50 |
11,358.03 |
4,775.46 |
903,867.27 |
|
24 |
16,133.50 |
11,298.34 |
4,835.15 |
899,032.12 |
|
25 |
16,133.50 |
11,237.90 |
4,895.59 |
894,136.52 |
|
26 |
16,133.50 |
11,176.71 |
4,956.79 |
889,179.73 |
|
27 |
16,133.50 |
11,114.75 |
5,018.75 |
884,160.98 |
|
28 |
16,133.50 |
11,052.01 |
5,081.48 |
879,079.50 |
|
29 |
16,133.50 |
10,988.49 |
5,145.00 |
873,934.50 |
|
30 |
16,133.50 |
10,924.18 |
5,209.31 |
868,725.18 |
|
31 |
16,133.50 |
10,859.06 |
5,274.43 |
863,450.75 |
|
32 |
16,133.50 |
10,793.13 |
5,340.36 |
858,110.39 |
|
33 |
16,133.50 |
10,726.38 |
5,407.12 |
852,703.28 |
|
34 |
16,133.50 |
10,658.79 |
5,474.70 |
847,228.57 |
|
35 |
16,133.50 |
10,590.36 |
5,543.14 |
841,685.43 |
|
36 |
16,133.50 |
10,521.07 |
5,612.43 |
836,073.00 |
|
37 |
16,133.50 |
10,450.91 |
5,682.58 |
830,390.42 |
|
38 |
16,133.50 |
10,379.88 |
5,753.62 |
824,636.81 |
|
39 |
16,133.50 |
10,307.96 |
5,825.54 |
818,811.27 |
|
40 |
16,133.50 |
10,235.14 |
5,898.35 |
812,912.92 |
|
41 |
16,133.50 |
10,161.41 |
5,972.08 |
806,940.83 |
|
42 |
16,133.50 |
10,086.76 |
6,046.74 |
800,894.10 |
|
43 |
16,133.50 |
10,011.18 |
6,122.32 |
794,771.78 |
|
44 |
16,133.50 |
9,934.65 |
6,198.85 |
788,572.93 |
|
45 |
16,133.50 |
9,857.16 |
6,276.33 |
782,296.59 |
|
46 |
16,133.50 |
9,778.71 |
6,354.79 |
775,941.81 |
|
47 |
16,133.50 |
9,699.27 |
6,434.22 |
769,507.58 |
|
48 |
16,133.50 |
9,618.84 |
6,514.65 |
762,992.93 |
|
49 |
16,133.50 |
9,537.41 |
6,596.08 |
756,396.85 |
|
50 |
16,133.50 |
9,454.96 |
6,678.54 |
749,718.31 |
|
51 |
16,133.50 |
9,371.48 |
6,762.02 |
742,956.30 |
|
52 |
16,133.50 |
9,286.95 |
6,846.54 |
736,109.75 |
|
53 |
16,133.50 |
9,201.37 |
6,932.12 |
729,177.63 |
|
54 |
16,133.50 |
9,114.72 |
7,018.78 |
722,158.85 |
|
55 |
16,133.50 |
9,026.99 |
7,106.51 |
715,052.34 |
|
56 |
16,133.50 |
8,938.15 |
7,195.34 |
707,857.00 |
|
57 |
16,133.50 |
8,848.21 |
7,285.28 |
700,571.72 |
|
58 |
16,133.50 |
8,757.15 |
7,376.35 |
693,195.37 |
|
59 |
16,133.50 |
8,664.94 |
7,468.55 |
685,726.82 |
|
60 |
16,133.50 |
8,571.59 |
7,561.91 |
678,164.91 |
|
61 |
16,133.50 |
8,477.06 |
7,656.43 |
670,508.47 |
|
62 |
16,133.50 |
8,381.36 |
7,752.14 |
662,756.33 |
|
63 |
16,133.50 |
8,284.45 |
7,849.04 |
654,907.29 |
|
64 |
16,133.50 |
8,186.34 |
7,947.15 |
646,960.14 |
|
65 |
16,133.50 |
8,087.00 |
8,046.49 |
638,913.64 |
|
66 |
16,133.50 |
7,986.42 |
8,147.08 |
630,766.57 |
|
67 |
16,133.50 |
7,884.58 |
8,248.91 |
622,517.65 |
|
68 |
16,133.50 |
7,781.47 |
8,352.03 |
614,165.63 |
|
69 |
16,133.50 |
7,677.07 |
8,456.43 |
605,709.20 |
|
70 |
16,133.50 |
7,571.37 |
8,562.13 |
597,147.07 |
|
71 |
16,133.50 |
7,464.34 |
8,669.16 |
588,477.91 |
|
72 |
16,133.50 |
7,355.97 |
8,777.52 |
579,700.39 |
|
73 |
16,133.50 |
7,246.25 |
8,887.24 |
570,813.15 |
|
74 |
16,133.50 |
7,135.16 |
8,998.33 |
561,814.82 |
|
75 |
16,133.50 |
7,022.69 |
9,110.81 |
552,704.01 |
|
76 |
16,133.50 |
6,908.80 |
9,224.70 |
543,479.31 |
|
77 |
16,133.50 |
6,793.49 |
9,340.00 |
534,139.31 |
|
78 |
16,133.50 |
6,676.74 |
9,456.75 |
524,682.56 |
|
79 |
16,133.50 |
6,558.53 |
9,574.96 |
515,107.59 |
|
80 |
16,133.50 |
6,438.84 |
9,694.65 |
505,412.94 |
|
81 |
16,133.50 |
6,317.66 |
9,815.83 |
495,597.11 |
|
82 |
16,133.50 |
6,194.96 |
9,938.53 |
485,658.58 |
|
83 |
16,133.50 |
6,070.73 |
10,062.76 |
475,595.81 |
|
84 |
16,133.50 |
5,944.95 |
10,188.55 |
465,407.26 |
|
85 |
16,133.50 |
5,817.59 |
10,315.90 |
455,091.36 |
|
86 |
16,133.50 |
5,688.64 |
10,444.85 |
444,646.51 |
|
87 |
16,133.50 |
5,558.08 |
10,575.41 |
434,071.09 |
|
88 |
16,133.50 |
5,425.89 |
10,707.61 |
423,363.48 |
|
89 |
16,133.50 |
5,292.04 |
10,841.45 |
412,522.03 |
|
90 |
16,133.50 |
5,156.53 |
10,976.97 |
401,545.06 |
|
91 |
16,133.50 |
5,019.31 |
11,114.18 |
390,430.88 |
|
92 |
16,133.50 |
4,880.39 |
11,253.11 |
379,177.77 |
|
93 |
16,133.50 |
4,739.72 |
11,393.77 |
367,784.00 |
|
94 |
16,133.50 |
4,597.30 |
11,536.20 |
356,247.80 |
|
95 |
16,133.50 |
4,453.10 |
11,680.40 |
344,567.40 |
|
96 |
16,133.50 |
4,307.09 |
11,826.40 |
332,741.00 |
|
97 |
16,133.50 |
4,159.26 |
11,974.23 |
320,766.77 |
|
98 |
16,133.50 |
4,009.58 |
12,123.91 |
308,642.85 |
|
99 |
16,133.50 |
3,858.04 |
12,275.46 |
296,367.39 |
|
100 |
16,133.50 |
3,704.59 |
12,428.90 |
283,938.49 |
|
101 |
16,133.50 |
3,549.23 |
12,584.26 |
271,354.23 |
|
102 |
16,133.50 |
3,391.93 |
12,741.57 |
258,612.66 |
|
103 |
16,133.50 |
3,232.66 |
12,900.84 |
245,711.82 |
|
104 |
16,133.50 |
3,071.40 |
13,062.10 |
232,649.72 |
|
105 |
16,133.50 |
2,908.12 |
13,225.37 |
219,424.35 |
|
106 |
16,133.50 |
2,742.80 |
13,390.69 |
206,033.66 |
|
107 |
16,133.50 |
2,575.42 |
13,558.07 |
192,475.58 |
|
108 |
16,133.50 |
2,405.94 |
13,727.55 |
178,748.03 |
|
109 |
16,133.50 |
2,234.35 |
13,899.15 |
164,848.89 |
|
110 |
16,133.50 |
2,060.61 |
14,072.88 |
150,776.00 |
|
111 |
16,133.50 |
1,884.70 |
14,248.80 |
136,527.21 |
|
112 |
16,133.50 |
1,706.59 |
14,426.91 |
122,100.30 |
|
113 |
16,133.50 |
1,526.25 |
14,607.24 |
107,493.06 |
|
114 |
16,133.50 |
1,343.66 |
14,789.83 |
92,703.23 |
|
115 |
16,133.50 |
1,158.79 |
14,974.71 |
77,728.52 |
|
116 |
16,133.50 |
971.61 |
15,161.89 |
62,566.63 |
|
117 |
16,133.50 |
782.08 |
15,351.41 |
47,215.22 |
|
118 |
16,133.50 |
590.19 |
15,543.31 |
31,671.91 |
|
119 |
16,133.50 |
395.90 |
15,737.60 |
15,934.32 |
|
120 |
16,133.50 |
199.18 |
15,934.32 |
0.00 |
Loan amount x rpm x (1+pm)
(1+pm)
- rpm= interest per month (rate of interest per year/12)
- n= number of installments
NB: If you have a fixed budget towards EMI you can arrive at loan amount by changing the other variables such as by reducing the rate of interest or by increasing the tenure of loan. This can also be arrived at through EMI calculator by a trial-and-error approach.
Response
ATM debit cards may be offered at the time of opening BSBDA and issued if the customer requests for the same in writing. Banks need not force ATM debit cards on such customers.
ಭಾರತೀಯ ರಿಸರ್ವ್ ಬ್ಯಾಂಕ್ ಮೊಬೈಲ್ ಅಪ್ಲಿಕೇಶನ್ ಅನ್ನು ಇನ್ಸ್ಟಾಲ್ ಮಾಡಿ ಮತ್ತು ಇತ್ತೀಚಿನ ಸುದ್ದಿಗಳಿಗೆ ತ್ವರಿತ ಅಕ್ಸೆಸ್ ಪಡೆಯಿರಿ!
