• Product structure of the series of IIBs for retail investors is yet to be finalised. It will be finalised in the due course and accordingly, the same would put in the public domain.

Banks are free to fix Prime Lending Rate (PLR) for credit limits over Rs.2 lakhs with the approval of their respective Boards, which should be the minimum rate charged by them for such credit limits. PLR is to be declared and has to be uniformly applicable at all branches. The banks may authorise their Asset-Liability Management Committee (ALCO) to fix interest rates on Deposits and Advances, subject to their reporting to the Board immediately thereafter. The banks should also fix maximum spread over the PLR with the approval of the ALCO/Board for all advances other than consumer credit.

The Reserve Bank of India has deregulated the charges to be levied by sponsor banks from user institutions. The sponsor banks are, however, required to disclose the charges in a transparent manner. With effect from 1st July 2011, originating banks are required to pay a nominal charge of 25 paise and 50 paise per transaction to the Clearing house and destination bank respectively. Bank branches do not generally levy processing / service charges for debiting the accounts of customers maintained with them.

CG and SG match on a price- time priority basis and T Bills Match on a yield-time priority basis. For a bid in CG/SG to match with an offer, the bid price has to be equal to or greater than the offer price. For an offer in CG/SG to match with a bid, the offer price has to be equal to or less than the offer price. In case of T Bills, the bid yield has to be equal to or less than the offer yield and vice versa for offers. At the same price/yield, the order which has come first to the system will get priority.

Ans. ಮಾಸ್ ಟ್ರಾನ್ಸಿಟ್ ಸಿಸ್ಟಮ್ಸ್ [ಪಿಪಿಐ-ಎಮ್ಟಿಎಸ್]ಗಾಗಿ ಪಿಪಿಐಗಳ ಪ್ರಮುಖ ವೈಶಿಷ್ಟ್ಯತೆಗಳು ಈ ಕೆಳಗಿನಂತಿವೆ:

1. ಇವುಗಳು ಮಾಸ್ ಟ್ರಾನ್ಸಿಟ್ ಸಿಸ್ಟಮ್ ಆಪರೇಟರ್ಗಳು ನೀಡುವ ಸೆಮಿಕ್ಲೋಸ್ಡ್ ಪಿಪಿಐಗಳಾಗಿವೆ.
2. ಮಾಸ್ ಟ್ರಾನ್ಸಿಟ್ ಸಿಸ್ಟಮ್ನಿಂದ ಹೊರತಾಗಿ, ಅಂತಹ ಪಿಪಿಐ-ಎಮ್ಟಿಎಸ್ ಅನ್ನು ಯಾರ ಚಟುವಟಿಕೆಗಳು ಸಂಬಂಧಿತ /ಸಂಬಂಧಪಟ್ಟ ಅಥವಾ ಟ್ರಾನ್ಸಿಟ್ ಸಿಸ್ಟಮ್ನ ಆವರಣದೊಳಗಡೆಯಲ್ಲಿ ನಡೆಯುವ ಇತರ ವ್ಯಾಪಾರಿಗಳಲ್ಲಿ ಮಾತ್ರ ಬಳಸಬಹುದು.
3. ಅವು ಸ್ವರೂಪದಲ್ಲಿ ಮರುಲೋಡ್ ಮಾಡಬಹುದಾದದ್ದಾಗಿರುತ್ತವೆ.
4. ಯಾವುದೇ ಸಮಯದಲ್ಲಿ ಗರಿಷ್ಠ ಬಾಕಿಯು 3,000/ದ ಮಿತಿಯನ್ನು ಮೀರಬಾರದು.
5. ಕ್ಯಾಶ್-ಔಟ್ ಅಥವಾ ರಿಫಂಡ್ ಅಥವಾ ಹಣ ವರ್ಗಾವಣೆಯನ್ನು ಅನುಮತಿಸಲಾಗುವುದಿಲ್ಲ.
6. ನೀಡಿಕೆದಾರರ ಆಡಳಿತ ಮಂಡಳಿ ಅನುಮೋದಿತ ನೀತಿಯ ಪ್ರಕಾರ ಅವುಗಳನ್ನು ಮರುಮೌಲ್ಯಮಾಪನ ಮಾಡಬಹುದು [ಹೊಸ ಇನ್ಸ್ಟ್ರುಮೆಂಟ್ನ ನೀಡಿಕೆಯನ್ನೂ ಒಳಗೊಂಡು]
7. ನೀಡಿಕೆದಾರರ ಆಡಳಿತ ಮಂಡಳಿ ಅನುಮೋದಿತ ನೀತಿಯ ಪ್ರಕಾರ ಅವುಗಳನ್ನು ಮರುಮೌಲ್ಯಮಾಪನ ಮಾಡಬಹುದು [ಹೊಸ ಇನ್ಸ್ಟ್ರುಮೆಂಟ್ನ ನೀಡಿಕೆಯನ್ನೂ ಒಳಗೊಂಡು]

Response

All the existing 'No-Frill' accounts may be treated as BSBDA accounts from the date of the circular i.e., August 22, 2012 and banks may offer the prescribed facilities as per the circular such as issuing ATM card etc., to the existing ‘No-Frill’ account holders as and when the customer approaches the bank. However, for customers opening new accounts after the issue of our circular should be provided with the prescribed facilities immediately on opening of the account.

Yes.  Government securities are eligible for conversion from one form of holding to another as well as consolidation, sub-division and renewal as per the terms and conditions prescribed in the G S Regulations.

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.

The bond can be gifted/transferable to a relative/friend/anybody who fulfills the eligibility criteria (as mentioned at Q.no. 4). The Bonds shall be transferable in accordance with the provisions of the Government Securities Act 2006 and the Government Securities Regulations 2007 before maturity by execution of an instrument of transfer which is available with the issuing agents.

Ans. A resident individual can make a rupee gift 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. The amount should be credited to the Non-Resident (Ordinary) Rupee Account (NRO) a/c of the NRI / PIO and credit of such gift amount may be treated as an eligible credit to NRO a/c. The gift amount would be within the overall limit of USD 250,000 per financial year as permitted under the LRS for a resident individual. It would be the responsibility of the resident donor to ensure that the gift amount being remitted is under the LRS and all the remittances made by the donor during the financial year including the gift amount have not exceeded the limit prescribed under the LRS.