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FAQs on Overseas Direct Investment

No, once the report of remittance in form ODR is received by the Reserve Bank through the designated Authorised Dealer, an identification number for that particular investment is issued for the purpose of future reference. Subsequent investment in the same project will be permitted to be made only after allotment of the identification number.
  • As indicated in our press release dated May 15, 2013, size of the each tranche would be Rs. 1,000-2,000 crore.

  • The customers should be issued the securities after receiving clear money. After receiving clear money, banks should register the customer on CBS and generate Certificate of Holding.

Ans. Apart from above PPIs, there are the following two categories of PPIs:

  1. Gift PPIs; and

  2. PPIs for Mass Transit Systems (PPI-MTS).

The Central Government has decided that upto 30.12.2016, the payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Yojana (PMGKY), can be made in Old Bank Notes of ₹ 500 and ₹ 1000 denomination issued by the RBI. The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 has commenced on 17th December, 2016 and is open for declarations upto 31st March, 2017. The payment of tax, surcharge and penalty under the Scheme is to be made through challan ITNS-287 and the deposits are to be made in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016. The notifications relating to PMGKY are available on the website www.incometaxindia.gov.in

Our instructions contained in circular RPCD.CO.RRB.BC.No.57/03.05.33/2011-12 dated January 30, 2012 on Deregulation of Savings Bank Deposit Interest Rate, are applicable to deposits held in ‘Basic Savings Bank Deposit Account’.

Ans. The FAQs on “Legal Entity Identifier (LEI) for Large Value Transactions in Centralised Payment Systems” on the RBI website at https://www.rbi.org.in/Scripts/FAQView.aspx?Id=140 can be referred to.

ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕು ಡಿಪೋಸಿಟ್ ಬಡ್ಡಿದರ ಅನಿಯಂತ್ರಣದ ಬಗೆಗಿನ ನಮ್ಮ ಜನವರಿ 25, 2012ರ ಸುತ್ತೋಲೆ ಸಂಖ್ಯೆ DBOD.Dir.BC.75/13.03.00/2011-12ರಲ್ಲಿನ ಸೂಚನೆಗಳು 'ಬೇಸಿಕ್ ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಡಿಪೋಸಿಟ್ ಅಕೌಂಟ್'ನ ಡಿಪೋಸಿಟ್ಗೆ ಅನ್ವಯಿಸುತ್ತವೆ .

At the time of making applications, the Promoters/Promoter Group will have to furnish a road map and methodologies they would adopt to comply with all the requirements of the corporate structure indicated in para 2 (C)(ii) and (iii) of the guidelines and realign the business between the entities to be held under the NOFHC [para 2(C)(iv) of the guidelines] within a period of 18 months. After the ‘in-principle approval’ is accorded by RBI for setting up of the bank, the actual setting up of NOFHC and the bank, re-organization of the Promoter Group entities to bring the regulated financial services entities under the NOFHC as well as realignment of business among the entities under the NOFHC have to be completed within a period of 18 months from the date of in-principle approval or before commencement of banking business, whichever is earlier.

Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.

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