The quantity of gold for which the investor pays is protected, since he receives the ongoing market price at the time of redemption/ premature redemption. The SGB offers a superior alternative to holding gold in physical form. The risks and costs of storage are eliminated. Investors are assured of the market value of gold at the time of maturity and periodical interest. SGB is free from issues like making charges and purity in the case of gold in jewellery form. The bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc.

Ans: No, the assets possessed and already sold under SARFAESI Act, 2002 need not be displayed on the website.

The secured assets possessed by the REs shall be removed from the website in the event of the following circumstances:

(i) When the secured asset is sold; or

(ii) When the secured creditor receives the outstanding amount (which includes the principal, interest and any other dues payable by the borrower to the secured creditor) or after payment of the agreed settlement amount from the borrower.

Ans.: The survey is conducted annually.

Currently, participating banks in India for receiving remittances through the UPI-PayNow linkage are:

• Axis Bank

• DBS Bank India

• ICICI Bank

• Indian Bank

• Indian Overseas Bank

• State Bank of India

It is a policy adopted by RBI to ensure availability of good quality banknotes to the members of public.

Ans: The cap is applicable on the total amount disbursed out of the DLG set at any given time (read with answer to Q.1 above). Kindly see illustrations at the end.

Ans: One can remit upto ₹2 lakhs per transaction to the beneficiary residing in Nepal; provided the sender maintains account with any NEFT enabled bank branch in India.

Walk-in / Non-customer can remit upto ₹50,000 per transaction to Nepal residing beneficiary.

Ans. As regards the non-resident counterparty/ overseas entities, AD bank may be guided by the instructions contained in paragraph 2 of the circular.

(a) The extant guidelines as detailed below do not permit REs to offer differential rate of interest on green deposits:

• Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 03, 2016;

• Master Direction - Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016 dated August 25, 2016; and

• Master Direction - Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021 dated February 17, 2021.

(b) The REs shall pay interest on green deposits to their customers as per agreed terms and conditions and aforesaid directions irrespective of allocation/ utilisation of proceeds.

(c) There is no restriction on premature withdrawal of green deposits, however, the REs, shall adhere to the extant guidelines referred to above. Further, premature withdrawal would not have any bearing on the activities/ projects undertaken using the proceeds of green deposits.

Answer: An authorised person is an entity authorised by the Reserve Bank of India to deal in forex. It can be an authorised dealer, money changer, off-shore banking unit or any other person for the time being authorised under Sub-Section (1) of Section 10 of FEMA. The list of authorised persons is available here.