Ans: The e₹ pilots are a limited scale, controlled roll-out, to test the technology, architecture, scalability, application, features, use-cases and acceptance of e₹. The pilots aim to test the robustness of the entire process of e₹ creation, distribution, usage, etc.

Ans. In terms of paragraph 29.8 of these Directions, savings bank account can be opened in the name of only those Government Department/ Government Schemes given in Schedule-I of Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2025.

Centralised Receipt and Processing Centre (CRPC) has been set up at RBI, Chandigarh for receiving complaints through physical mode (letter/post). The CRPC undertakes initial scrutiny and processing of these complaints, uploads them on CMS, which are then assigned to Offices of RBI Ombudsmen (ORBIOs) or CEPCs for redressal. Please refer to Question 15 and 16 for further details.

Answer: Yes, provided Indian branch of foreign bank is an AD bank. This is subject to approval of Reserve Bank as in the case of other such accounts.

No. Additional penal charges cannot be levied on the earlier outstanding amount of penal charges.

Ans. The customer can furnish one of the following documents or the equivalent e-documents thereof, if the OVD submitted by him to the RE does not contain current address. These documents are deemed to be OVDs for the limited purpose of proof of address:

1. utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill);
2. property or Municipal tax receipt;
3. pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
4. letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave and licence agreements with such employers allotting official accommodation.

However, the customer shall submit OVD with current address within a period of three months of submitting the document specified above.

Generally, following entities can participate in the IoRS: Financial institutions, FinTech companies, RegTech providers, Start-ups or other innovators offering products/services relevant to multiple financial sectors.

However, the eligibility criteria will be governed primarily by the RS Framework of the Principal Regulator (Details given under FAQ Question 2)