Response

BSBDA does not envisage cheque book facility in the minimum facilities that it should provide to BSBDA customers. They are free to extend any additional facility including cheque book facility free of charge (in which case the account remains BSBDA) or charge for the additional facilities (in which case the account is not BSBDA).

• The application form can be downloaded from the RBI’s website. However, banks shall also get forms printed and made available to the investors.

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.

Ans. A resident individual is permitted to make a rupee loan to a NRI/PIO who is a close relative of the resident individual (‘relative’ as defined in Section 2(77) of the Companies Act, 2013) by way of crossed cheque/ electronic transfer subject to the following conditions:

(i) The loan is free of interest and the minimum maturity of the loan is one year.

(ii) The loan amount should be within the overall LRS limit of USD 2,50,000, per financial year, available to the resident individual. It would be the responsibility of the lender to ensure that the amount of loan is within the LRS limit of USD 2,50,000 during the financial year.

(iii) The loan shall be utilised for meeting the borrower's personal requirements or for his own business purposes in India.

(iv) The loan shall not be utilised, either singly or in association with other person, for any of the activities in which investment by persons resident outside India is prohibited, namely;

1. the business of chit fund, or

2. Nidhi Company, or

3. agricultural or plantation activities or in real estate business, or construction of farmhouses, or

4. trading in Transferable Development Rights (TDRs).

Explanation: For the purpose of item (c) above, real estate business shall not include development of townships, construction of residential / commercial premises, roads or bridges.

(v) The loan amount should be credited to the NRO a/c of the NRI /PIO. Credit of such loan amount may be treated as an eligible credit to NRO a/c.

(vi) The loan amount shall not be remitted outside India.

(vii) Repayment of loan shall be made by way of inward remittances through normal banking channels or by debit to the Non-resident Ordinary (NRO)/ Non-resident External (NRE) / Foreign Currency Non-resident (FCNR) account of the borrower or out of the sale proceeds of the shares or securities or immovable property against which such loan was granted.

When a Government security is lost, stolen, destroyed, mutilated or defaced, then the investor(s) may apply to RBI for issue of a duplicate GPN or SC in terms of Regulations 11 and 13, respectively, of GS Regulations.

In case of premature redemption, investors can approach the concerned bank/SHCIL offices/Post Office/agent thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

Ans: The entity receives a system-generated acknowledgement mail of ITES data submitted at the time of final processing itself. No separate mail will be sent in this regard.

Yes, the conciliation meeting can be held virtually either through the Video Conferencing facility of RBI, for which one may have to visit the nearest RBI Office, or from any nearby branch of the concerned bank or through platforms like WebEx etc. in consultation with the RBI Ombudsman office, and subject to the requirement given by the Office of RBI Ombudsman. Audio Conference calls are also possible.

DPSS. CO.CHD. No. 274/03.01.02/2012-13, ದಿನಾಂಕ ಆಗಸ್ಟ್ 10,2012ರಲ್ಲಿ
ಬಿಎಸ್ಬಿಡಿಎಯು ಕನಿಷ್ಠ ಸೌಲಭ್ಯನೀಡುವಾಗ ಬಿಎಸ್ಬಿಡಿಎ ಗ್ರಾಹಕರಿಗೆ ಚೆಕ್ಬುಕ್ ಸೌಲಭ್ಯ ನೀಡುವುದನ್ನು ಅಂದಾಜಿಸಿಲ್ಲ. ಬ್ಯಾಂಕುಗಳು ಚೆಕ್ಬುಕ್ ಸೌಲಭ್ಯದಂತಹ ಯಾವುದೇ ಸೌಲಭ್ಯವನ್ನು ಉಚಿತವಾಗಿ [ಆಗ ಖಾತೆಯು ಬಿಎಸ್ಬಿಡಿಎ ಆಗಿ ಉಳಿಯುತ್ತದೆ] ನೀಡಲು ಅಥವಾ ಹೆಚ್ಚಿನ ಸೌಲಭ್ಯಕ್ಕೆ ಶುಲ್ಕ ವಿಧಿಸಲು [ಆಗ ಖಾತೆಯು ಬಿಎಸ್ಬಿಡಿಎ ಆಗಿರುವುದಿಲ್ಲ] ಸ್ವತಂತ್ರರು.

Ans. The requirement of KYC documents depends on the modes used for periodic updation of KYC as detailed in the reply to Q 24, above.

1. In case of change in the KYC information, the customer has to provide the documents as mentioned in the reply to Q 5 above;
2. In case of no change in KYC information, the customer can provide a self-declaration. Similarly, a self-declaration in case of change only in address can also be provided by the customer to RE as detailed in reply to Q 24 above.
3. In case of Aadhaar OTP-based e-KYC authentication facility in non-face-to-face mode, the customer can provide a declaration of the current address even if the current address is different from the address in Aadhaar database. However, RE shall ensure that mobile number for Aadhaar authentication is same as the one available with it in the customer’s profile, in order to prevent any fraud.
4. In case of use of V-CIP for completing re-KYC, the requirements shall be as per paragraph 18 of the Master Direction on KYC, which include identification and verification of the identity using (i) Aadhaar OTP based e-KYC authentication in non-face-to-face mode; (ii) offline verification of Aadhaar; (iii) KYC records downloaded from CKYCR; and (iv) equivalent e-documents including documents issued through DigiLocker.