• 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.

Residents may book their tickets in India for their visit to any third country. That is residents can book their tickets for travel for instance to London/New York through domestic/foreign airlines in India itself.

An illustrative list of Intermediary Agencies is as under: 1. State sponsored organizations for on-lending to Weaker Sections.@ 2. Distributors of agricultural inputs/implements. 3. State Financial Corporations (SFCs)/State Industrial Development Corporations (SIDCs) to the extent they provide credit to weaker sections. 4. National Small Industries Corporation (NSIC). 5. Khadi and Village Industires Commission (KVIC). 6. Agencies involved in assisting the decentralized sector. 7. Housing and Urban Development Corporation Ltd. (HUDCO). 8. Housing Finance Companies approved by National Housing Bank (NHB) for refinance. 9. State sponsored organization for SCs/STs (for purchase and supply of inputs to and/or marketing of output of the beneficiaries of these organizations). 10. Micro Finance Institutions/Non-Government Organisations (NGOs) on-lending to SHGs. @ ‘Weaker Sections’ in Priority Sector includes following: Small and marginal farmers with land holdings of 5 acres and less, landless labourers, tenant farmers and share-croppers; Artisans, village and cottage industries where individual credit requirements do not exceed Rs.25,000/-. Small and marginal farmers, sharecroppers, agricultural and non-agricultural labourers, rural artisans and families living below the poverty lines are the beneficiaries. The family income should not exceed Rs. 11,000/- per annum. Scheduled Castes and Scheduled Tribes. Beneficiaries are persons whose family income from all sources does not exceed Rs.7200/- per annum in urban or semi urban areas or Rs.6,400/- per annum in rural areas. They should not own any land or the size of their holding does not exceed one acre in the case of irrigated land and 2.5 acres in the case of unirrigated land ( land holding criteria do not apply to SC/ST). Beneficiaries under Scheme of Liberation and Rehabilitation of Scavengers (SLRS). Advances granted to Self-Helf Groups (SHGs) for reaching the rural poor.

An application for direct investment in a JV/WOS may be made in form ODI to:The Chief General Manager,Overseas Investment Division,Exchange Control Department,Reserve Bank of India, Central Office,Amar Building, Sir P.M.Road,Mumbai 400 001.

The NDS-OM system ensures that orders place by a GAH will not match with its Primary Member. Similarly orders placed by two GAH of the same Primary Member will not match.

No. It will not be mandatory for the retail investor to maintain a constituent subsidiary general ledger (CSGL) account with a bank or a primary dealer (PD) through whom it proposes to participate in the auction. It will, however, be convenient for the investor to have such an account.

Response

Yes. Such customers should give their consent in writing and they should be informed of the features and extent of services available in BSBDAs.

Yes.  Government securities, as per eligibility, can be stripped separately for interest and principal and reconstituted as well.

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.