Ans.: Office expenses includes all the expenses incurred in running of the office in abroad during the year like internet payment, stationary, etc. If the office has been setup outside India in the reference period (say 2024-25) then that will also be included (in this point).

After a complaint gets successfully registered, it is assigned a complaint number. An acknowledgement indicating this complaint number is sent to the complainant through SMS on the mobile number and through e-mail at the email id provided at the time of filing the complaint. The status of the complaint can be checked by using the mobile number and the complaint number (received on the mobile) through the following link: https://cms.rbi.org.in.

The status of the complaint can also be ascertained by the complainant from the Contact Centre at CRPC, Chandigarh by contacting the toll-free number 14448.

Answer: Yes, INR exposure can be hedged in terms of applicable guidelines depending upon underlying transactions.

Ans. For the purpose of opening an account, RE is required to seek the KYC Identifier from the customer or retrieve the same, if available, from the CKYCR and obtain KYC records by using such KYC Identifier. In such cases, the customer is not required to submit the same KYC records/ information/ any other additional identification documents, unless–

1. there is a change in the information of the customer as existing in the records of CKYCR; or
2. the KYC record or information retrieved is incomplete or is not as per the current applicable KYC norms; or
3. the validity period of downloaded documents has lapsed; or
4. the RE considers it necessary in order to verify the identity or address (including current address) of the customer, or to perform enhanced due diligence or to build an appropriate risk profile of the customer.

Response: Suppose the principal amount is, say 302.86 grams of gold, and the customer has to be paid in gold, a bank can repay 302 grams in gold and 0.86 grams in equivalent amount of INR. It may be noted that the interest on deposit shall be calculated in INR on the value of gold at the time of deposit.

MSME advances not covered under FRR shall be governed under circular DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019, on ‘Prudential Framework for Resolution of Stressed Assets’, as updated from time to time.

The product/ solution will be tested as per the sandbox framework of the PR in coordination with the ARs. The PR will also evaluate your product based on its framework, incorporating inputs and appraisals from ARs for specific aspects under their jurisdiction to assess its suitability and viability.

Since Pension Fund Regulatory and Development Authority (PFRDA) currently does not have its own regulatory sandbox, it can only act as AR under IoRS and not as the PR.