New FAQ Page 2 - ಆರ್ಬಿಐ - Reserve Bank of India
Content Type:
The Reserve Bank - Integrated Ombudsman Scheme, 2021
Yes. As per Clause 16 of the RB-IOS, 2021, the RBI Ombudsman may reject a complaint at any stage, if the complaint:
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is non-maintainable under Clause 10 of the RB-IOS, 2021;
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is in the nature of offering suggestions or seeking guidance or explanation;
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in the opinion of the Ombudsman there is no deficiency in service;
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the compensation sought for the consequential loss is beyond the power of the Ombudsman to award as indicated in RB-IOS, 2021 (please refer to Question 22);
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the complaint is not pursued by the complainant with reasonable diligence;
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the complaint is without sufficient cause;
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the complaint requires consideration of elaborate documentary and oral evidence and the proceedings before the Ombudsman are not appropriate for adjudication of such a complaint;
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in the opinion of the Ombudsman there is no financial loss or damage, or inconvenience caused to the complainant.
Ans. Yes, once a customer submits updated KYC information or self-declaration to the RE, it shall provide an acknowledgement to this effect to the customer. Upon updating KYC information, the RE shall also intimate customers about such updation.
Ans.: Please refer to the below table containing the error codes (Fatal error, non-Fatal error) with their descriptions. If a respondent get an acknowledgment of the processed data with any Fatal error codes, then it should study the below mentioned fatal error message/description and revise its data and resubmit it on surveysoftex@rbi.org.in. If the company gets an acknowledgment of the processed data with any Non-fatal error codes then it needs to provide justification/clarification on the errors and send it on itesquery@rbi.org.in along with revised data if applicable to surveysoftex@rbi.org.in.
| Sr. No. | Revised- Rejection Criteria | Revised - Error Message/descriptions | Error Code |
| Fatal Error | |||
| 1 | If the survey year is not provided | The year cannot be left blank. Please specify the reference year and fill the return. | ITES_F_001 |
| 2 | i) If the survey year is not correct | Survey year should be the subsequent Survey after the latest closed survey year in the system. Please specify the correct Survey year. |
ITES_F_001 |
| ii) If the Survey year is advanced | Please specify proper survey year by filling the form for the survey year - <current survey year> | ITES_F_001 | |
| iii) If the survey is closed | ITES survey for ___________ is closed. | ITES_F_001 | |
| 3 | If PAN number is not provided | PAN number is not provided. Please specify/fill the PAN number of your company. | ITES_F_002 |
| 4 | If PAN number is not valid | PAN number is invalid. Please provide 10-digit alphanumeric PAN number of your company. | ITES_F_002 |
| 5 | If CIN number is not provided | CIN number is not provided. Please specify/fill 21-digit the CIN number of your company given by the Ministry of Corporate Affairs. | ITES_F_003 |
| 6 | If CIN number is not valid | CIN number is invalid. Please provide 21-digit CIN number of your company. | ITES_F_003 |
| 7 | If the details of Business Activity in ‘Item number 3 in Part-A is blank or incomplete AND 3.E Sum of the percentage share of business activities is not equal to 100 |
Total of Business Activity should be 100; Please specify the correct percentage share of each business activity mentioned in Item number 3 of Part A. | ITES_F_005 |
| 8 | If in Part-B, item number 5 (a) Total of Export invoice value is blank or ‘0’. | Please provide the Export invoice value of the business activities of your company in item number 5 (a). and if there is no export during the reference period, please select “Nil Statement” option mentioned in 2 (b) | ITES_F_006 |
| Non-Fatal Error | |||
| 1 | If there is more than one percent variation between percentage share of IT Services provided in Part A, item 3 A. and percentage share derived from Part B, item 5 (a) (i) IT Services export invoice amount/ total exports | Please ensure that percentage share of Business activity IT services provided in Part A, item 3 A matches with the corresponding export invoice value provided in Part B, item 5 (a) (i) | ITES_NF_001 |
| 2 | If there is more than one percent variation between percentage share of ITES/BPO provided in Part A, item 3 B and percentage share derived from Part B, item 5 (a) (ii) ITES/BPO Services export invoice amount/ total exports | Please ensure that percentage share of Business activity ITES/BPO provided in Part A, item 3 B matches with the corresponding export invoice value provided in Part B, item 5 (a) (ii) | ITES_NF_002 |
| 3 | If there is more than one percent variation between percentage share of Engineering services provided in Part A, item 3 C and percentage share derived from Part B, item 5 (a) (iii) Engineering services exports invoice amount/ total exports | Please ensure that percentage share of Business activity Engineering services provided in Part A, item 3 C matches with the corresponding export invoice value provided in Part B, item 5 (a) (iii) | ITES_NF_003 |
| 4 | If there is more than one percent variation between percentage share of Software products exports provided in Part A, item 3 D and percentage share derived from Part B, item 5 (a) (iv) Software products exports invoice amount/ total exports | Please ensure that percentage share of Business activity Software products exports provided in Part A, item 3 D matches with the corresponding export invoice value provided in Part B, item 5 (a) (iv) | ITES_NF_005 |
| 5 | If the total exports amount of Billing to subsidiary(s)/ associate(s) abroad in Part B, item 5 (a) is blank | Please provide the amount of billing to subsidiary(s)/ associate(s) abroad of the total exports in Part B, item 5 (a). | ITES_NF_006 |
| 6 | If there is more than 5 percent variation between total exports-major currencies reported in INR in item 5 (b) of Part B and total exports provided in item 5(a) of Part B | Please ensure that total exports-major currencies reported in INR in item 5 (b) of Part B matches with total exports provided in item 5(a) of Part B. | ITES_NF_010 |
| 7 | If there is more than 5 percent variation between total exports-type of services reported in item 5 (c) of Part B and total exports provided in item 5(a) of Part B | Please ensure that total exports-type of services reported in item 5 (c) of Part B matches with total exports provided in item 5(a) of Part B. | ITES_NF_011 |
| 8 | If there is more than 5 percent variation between total exports-Major Areas reported in item 5 (d) of Part B and total exports provided in item 5(a) of Part B | Please ensure that total exports- Major Areas reported in item 5 (d) of Part B matches with total exports provided in item 5(a) of Part B. | ITES_NF_012 |
| 9 | If there is more than 5 percent variation between total exports-Mode of supply reported in item 6 of Part B and total exports provided in item 5(a) of Part B | Please ensure that total exports- Mode of supply reported in item 6 of Part B matches with total exports provided in item 5(a) of Part B. | ITES_NF_013 |
| 10 | If the information on Exports Proceeds- Receipt, Expenditure and Held Abroad in the item number 7 of Part C (i) i.e Cell AB83 is blank or zero | Please provide the complete details on information on Exports Proceeds- Receipt, Expenditure and Held Abroad in the item number 7 of Part C. | ITES_NF_007 |
| 11 | If the Cell O14 is blank or zero in the information of number of employees in item number 8 of Part C | Please provide the complete details on Number of employees in the item number 8 of Part C. | ITES_NF_008 |
| 12 | If the information on Total Number of Subsidiaries/ Associates Abroad in item number 9 (a) of Part D is blank. | Please provide information on Total Number of Subsidiaries/ Associates Abroad in the item number 9 of Part D. | ITES_NF_014 |
| 13 | Number of non-zero rows in 9 (b) should be equal to number of Subsidiaries/ Associates Abroad provided in item number 9 (a) of Part D. | Please check the number of subsidiaries provided in 9(a) of part (D) matches with the numbers of subsidiaries details provided in 9(b) | ITES_NF_009 |
| 14 | If Form of Organisation is null or select as blank | Please provide the Form of Organisation in item 4 of part A | ITES_NF_015 |
In terms of announcement in para 48 of First Bi-monthly Monetary Policy Statement, 2016-17, Reserve Bank laid down a framework for accreditation of credit counsellors which was shared with SIDBI for laying down operational guidelines. Accordingly, the scheme was launched by SIDBI in July 2017. As per the scheme, Certified Credit Counsellors are institutions or individuals registered with SIDBI who shall assist MSMEs in preparing project reports in a professional manner which would, in turn, help banks make more informed credit decisions.
Ans. The meaning of KYC is as defined in paragraph 6 of the MD-PPIs. The KYC / Anti-Money Laundering (AML) / Combating Financing of Terrorism (CFT) guidelines issued by the Department of Regulation (DoR), RBI, in “Master Direction – Know Your Customer Direction, 2016”, shall apply mutatis mutandis to all the entities issuing PPIs.
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Fixed Income Money Market and Derivatives Association of India (FIMMDA) will come out with valuation guidelines shortly.
Ans. Yes, Reserve Bank has the authority to conduct on-site inspection, under the PSS Act.
However, foreign entities located in overseas jurisdictions may be exempted from certain requirements applicable to domestic payment systems (India) subject to the RBI concluding cooperative agreements with the home regulator/s.
ಭಾರತೀಯ ರಿಸರ್ವ್ ಬ್ಯಾಂಕ್ ಮೊಬೈಲ್ ಅಪ್ಲಿಕೇಶನ್ ಅನ್ನು ಇನ್ಸ್ಟಾಲ್ ಮಾಡಿ ಮತ್ತು ಇತ್ತೀಚಿನ ಸುದ್ದಿಗಳಿಗೆ ತ್ವರಿತ ಅಕ್ಸೆಸ್ ಪಡೆಯಿರಿ!
