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Clarifications to Queries on Guidelines for Licensing of New Banks in the Private Sector

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.
Yes. The bonds can be held in demat account. A specific request for the same must be made in the application form itself. Till the process of dematerialization is completed, the bonds will be held in RBI’s books. The facility for conversion to demat will also be available subsequent to allotment of the bond.
Yes. Pledge, hypothecation or lien may be created in respect of Government securities held in the form of SC, BLA, SGL/CSGL and the holder of Government securities in such forms may avail of loan facility by keeping such securities as collateral towards loan, subject to the stipulation mentioned in Question No. 34. However, Government securities issued in the form of GPN and bearer bonds are not eligible for creation of pledge, hypothecation or lien.

Ans: Yes, all modes of account opening as mentioned in the reply to Q 13 above, viz. onboarding customer in face-to-face mode; non-face-to-face mode and V-CIP are available to the person with disabilities.

An appeal can be filed against the Award or the decision of the RBI Ombudsman rejecting the complaint closed under appealable clauses, within 30 days of the date of receipt of communication of Award or rejection of the complaint. The Appellate Authority, if satisfied that the applicant had sufficient cause for not making an application for appeal within the specified time, may also allow a period of extension not exceeding 30 days.

ಉತ್ತರ. ಎರಡು ಪಾಲುದಾರರ ನಡುವೆ, ಒಬ್ಬರನ್ನು ಪಿಪಿಐ ನೀಡಿಕೆದಾರರಗಿ ನೇಮಿಸಲಾಗಿರುವಂತೆ ಅವರು ಸಹ-ಬ್ರ್ಯಾಂಡೆಡ್ ಪಿಪಿಐಗೆ ಸಂಬಂಧಿಸಿದ ಎಲ್ಲಾ ಗ್ರಾಹಕ ಸೇವಾ ಅಂಶಗಳನ್ನು ತಿಳಿಸುವದಕ್ಕಾಗಿ ಜವಾಬ್ದಾರರಾಗಿರುತ್ತಾರೆ.
Yes. Individuals are free to use this Scheme to acquire and hold immovable property, shares or any other asset outside India without prior approval of RBI.
Yes, such requests are considered by the Special Committee on case-to-case basis. Indian companies desirous of making such investment are required to submit an application in form ODB to Reserve Bank for the purpose.

No. The bank or the PD is not permitted to build any other cost, such as funding cost, into the price. In other words, the bank or the PD cannot recover any other cost from the client other than accrued interest as indicated in Q21 and Q23 and commission(Q31)

Banks can offer loans below the PLR rates to exporters or other credit worthy borrowers including public enterprises in accordance with a transparent and objective policy approved by their respective Board of Directors.

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