ಉತ್ತರ. ಅಥಾರೈಸ್ಡ್ ಡೀಲರ್ ಕೆಟೆಗರಿ-1ರಬ್ಯಾಂಕ್ಗಳು ನೀಡುವ ಕೆವೈಸಿ ಕಂಪ್ಲೈಂಟ್ ಮರುರೊಡ್ ಮಾಡಬಹುದಾದ ಸೆಮಿಕ್ಲೋಸ್ಡ್ ಹಾಗೂ ಓಪನ್ ಸಿಸ್ಟಮ ಪಿಪಿಐಗಳನ್ನು FEMA [ಫೇಮಾ]ಅಡಿಯಲ್ಲಿ ಅನುಮತಿಸುವ ಚಾಲ್ತಿ ಖಾತೆ ವಹಿವಾಟುಗಳಿಗಾಗಿ ಗಡಿಯಾಚೆಗಿನ ಬಾಹ್ಯ ವಹಿವಾಟುಗಳಲ್ಲಿ ಅಂದರೆ ಸರಕುಗಳು ಹಾಗೂ ಹಾಗೂ ಸೇವೆಗಳ ಖರೀದಿಗೆ ಅನುಮತಿ ನೀಡಲಾಗುತ್ತದೆ. ಪಿಪಿಐದಾರರ ಸ್ಪಷ್ಟ ಕೋರಿಕೆಯ ಮೇರೆಗೆ ಮಾತ್ರ ಈ ಸೌಲಭ್ಯವನ್ನು ಸಕ್ರಿಯಗೊಳಿಸಲಾಗುತ್ತದೆ.
ವಹಿವಾಟಿನ ಮಿತಿಗಳು:
ಪ್ರತಿ ವಹಿವಾಟಿನ ಮಿತಿಯು 10,000/-ವನ್ನು ಮೀರಬಾರದು .
ಪ್ರತಿ ತಿಂಗಳದ ಮಿತಿಯು 50,000/-ವನ್ನು ಮೀರಬಾರದು .
ಅವಕಾಶನೀಡಲಾದ ವಹಿವಾಟುಗಳು:
ಫಾರೆನ್ ಎಕ್ಸ್ಚೇಂಜ್ ಮ್ಯಾನೇಜ್ಮೆಂಟ್ ಆ್ಯಕ್ಟ್ [ಎಫ್ಇಎಮ್ಎ]ಅಡಿಯಲ್ಲಿ ಅನುಮತಿಸಲಾದ ಚಾಲ್ತಿ ಖಾತೆ ವಹಿವಾಟುಗಳು ಅಂದರೆ ಸರಕುಗಳ ಹಾಗೂ ಸೇವೆಗಳ ಖರೀದಿಯು,ಅಂತಹ ವಹಿವಾಟುಗಳನ್ನು ನಿಯಂತ್ರಿಸುವ ಹೆಚ್ಚುವರಿ ನಿಯಮಾವಳಿಗಳಿಗೆ ಬದ್ಧವಾಗಿರುವುದಕ್ಕೆ ಒಳಪಟ್ಟಿರುತ್ತದೆ.
ಅವಕಾಶನೀಡದ ವಹಿವಾಟುಗಳು:

1. ಲಿಬರಲೈಸ್ಡ್ ರೆಮಿಟ್ಟೆನ್ಸಸ್ ಸ್ಕೀಮ್ ಅಡಿಯಲ್ಲಿ ಯಾವುದೇ ಗಡಿಯಾಚೆಗಿನ ಬಾಹ್ಯ ಹಣ ವರ್ಗಾವಣೆ ಹಾಗೂ /ಅಥವಾ ಹಣರ್ಗಾವಣೆಗಳನ್ನು ಮಾಡುವುದಕ್ಕಾಗಿ.
2. ಆನ್ಲೈನ್ ವ್ಯಾಪಾರಿ ಖಾತೆಯ ಪ್ರಿಫಂಡಿಂಗ್

Pledge towards Government securities will be created/noted by RBI or its agent, as the case may be, maintaining the account in respect of such security, i.e., in case of SC, BLA & SGL for which the records and accounts are maintained by RBI, the pledge will be noted in the books of RBI while in case of BLAs issued by Agency Banks or securities held in a CSGL account, the pledge will be noted by the concerned Agency Bank or CSGL Account holder respectively.

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.

The nominee/nominees to the bond may approach the respective Receiving Office with their claim. The claim of the nominee/nominees will be recognized in terms of the provision of the Government Securities Act, 2006 read with Chapter III of Government Securities Regulation, 2007. In the absence of nomination, claim of the executors or administrators of the deceased holder or claim of the holder of the succession certificate (issued under Part X of Indian Succession Act) may be submitted to the Receiving Offices/Depository. It may be noted that the above provisions are applicable in the case of a deceased minor investor also. The title of the bond in such cases too will pass to the person fulfilling the criteria laid down in Government Securities Act, 2006 and not necessarily to the Natural Guardian.

Ans: The provision to accept thumb impression in place of signatures has already been prescribed for onboarding customer in face-to-face-mode under paragraph 16 and 23 of the MD on KYC.

Yes. A complaint can be withdrawn at any stage by the complainant under the Scheme. For withdrawing a complaint, one can log on to the Complaint Management System portal (https://cms.rbi.org.in) and go to the tab “Track a complaint”.

ಉತ್ತರ.

ಅಧಿಕೃತ ಓವರ್ಸೀಸ್ ಪ್ರಿನ್ಸಿಪಾಲ್ [ಒಪಿ]ಯ ಭಾರತೀಯ ಏಜಂಟರಾದ ಬ್ಯಾಂಕ್ಗಳು ಹಾಗೂ ಬ್ಯಾಂಕೇತರ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರುಗಳಿಗೆ, ಆರ್ಬಿಐನ ಮನಿ ಟ್ರಾನ್ಸ್ಫರ್ ಸರ್ವಿಸ್ ಸ್ಕೀಮ್ [ಎಮ್ಟಿಎಸ್ಎಸ್] ಅಡಿಯಲ್ಲಿ ಅಂತರಿಕ ಹಣರವಾನೆಯ ಫಲಾನುಭವಿಗಳಿಗೆ ಕೆವೈಸಿ ಕಂಪ್ಲೈಂಟ್ ನೀಡಲು ಅನುಮತಿ ಇದೆ. ಇದರರ್ಥ ಈ ಚಟುವಟಿಕೆಯನ್ನು ಕೈಗೊಳ್ಳುವ ಘಟಕವು ಅಧಿಕೃತ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಹಾಗೂ ಎಮ್ಟಿಎಸ್ಎಸ್ [ ಆರ್ಬಿಐನ,ಫಾರೆನ್ ಎಕ್ಸ್ಚೇಂಜ್ ಡಿಪಾರ್ಟ್ಮೆಂಟ್ನಿಂದ ಅಧಿಕೃತ]ಅಡಿಯಲ್ಲಿ ಭಾರತೀಯ ಏಜಂಟ್ ಆಗಿರಬೇಕು.

ವೈಯ್ಯಕ್ತಿಕ ಆಂತರಿಕ ಎಮ್ಟಿಎಸ್ಎಸ್ ಹಣರವಾನೆಗಳಿಂದ 50,000/-ಗಳವರೆಗಿನ ಮೊತ್ತಗಳನ್ನು ಫಲಾನುಭವಿಗಳಿಗೆ ನೀಡಲಾಗುವ ಪಿಪಿಐಗಳಲ್ಲಿ ಲೋಡ್ ಮಾಡಲು ಅಥವಾ ಮರುಲೋಡ್ ಮಾಡಲು ಅನುಮತಿ ನೀಡಲಾಗಿದೆ. 50,000/-ಗಳಿಗಿಂತ ಹೆಚ್ಚಿನ ಯಾವುದೇ ಸಿಂಗಲ್ ವಹಿವಾಟಿನ ಮೊತ್ತವನ್ನು ಬ್ಯಾಂಕ್ ಖಾತೆಗೆ ಕ್ರೆಡಿಟ್ ಮೂಲಕ ಪಾವತಿಸಲಾಗುತ್ತದೆ.

The facility under the Scheme is in addition to those already available under Foreign Exchange Management (Current Account Transactions) Rules, 2000.

Partnership firms engaged in providing professional services, such as chartered accountancy, legal practice and related services, information technology and entertainment software related services and medical and healthcare services are eligible for investment abroad on an automatic basis by filing form ODA with the AD without prior approval of the Reserve Bank up to an amount of US$ 1 million. Partnership firms, which do not conform to the above parameters, are required to obtain specific approval of the Reserve Bank by filing an application in form ODI (to the extent applicable).

Direct housing loans to individuals upto Rs.5 lakhs in rural/semi-urban area and Rs.10 lakhs in urban/metropolitan area and loans upto Rs.50,000/- for repairs to damaged houses by individuals are treated as priority sector advances. The rate of interest will be determined according to size of the credit limit. As such the loans upto Rs.2 lakhs should be charged interest as per size of limit i.e. ‘not exceeding PLR’. Loans above Rs. 2 lakhs and upto Rs. 5 lakhs in rural/semi-urban area or Rs.10 lakhs in urban/metropolitan area should be charged interest subject to PLR and the spread announced by the bank concerned. Loan above Rs.5 lakhs in rural/semi-urban area and above Rs.10 lakhs in urban/metropolitan area will fall under category ‘Other non-priority sector personal loans’ in which case banks are free to determine the rates of interest without reference to PLR.37. Consequent on the deregulation of interest rate on advances over Rs. 2 lakhs with effect from October 18, 1994, how banks will bear DICGC Guarantee fee in respect of priority sector advance?As regards DICGC Guarantee fee, the banks have discretion to absorb or to pass on the guarantee fee to the borrower in case of advances over Rs.25,000/- excluding advances to weaker sections. Banks should bear DICGC guarantee fees in respect of advances upto Rs.25,000/- and all advances to weaker sections.38.Whether banks can charge rate of interest beyond the spread announced by them on advances granted to Non-Banking Finance Companies (NBFCs)?Banks have freedom to charge interest rate beyond the declared 'spread' on advances granted to NBFCs for onlending for consumer credit.39. Whether interest on loans and advances could be charged at varying periods ranging from monthly rests to yearly rests?With effect from April 1, 2002 the interest rates on loans and advances should be charged with monthly rests except in the case of agricultural advances( including short term loans and other allied activities) where the existing practice would continue. However the banks should compound the interest at monthly intervals only from April 1, 2003.40. What rate of interest is chargeable on loans/ advances granted to Staff Member/Staff Co-operative Credit Societies?The interest rate directives on bank advances will not be applicable to loans or advances or other financial accommodation made or provided or renewed by a scheduled bank, inter alia, to its own employees. Where the advances are provided by the bank to co-operative credit societies formed by the bank’s staff members for lending to constituents ( i.e. Staff of the bank ) the interest rate directives of the RBI will not apply to such advances.IV. Advances against shares and debentures41. Whether banks can sanction loans to Trust and Endowments against the security of shares and debentures?No.42. Whether banks can sanction loans against the equity shares of the banking company to its directors?No.43. Whether any ceiling has been stipulated regarding the banks exposure to the capital markets?Thetotalexposure including both fund based and non-fund based, to capital market by a bank in all forms covering direct investment by a bank in equity shares, convertible bonds and debentures and units of equity oriented mutual funds; Advances against shares to individuals for investment in equity shares (including IPOs ), bonds and debentures, units of equity-oriented mutual funds etc and secured and unsecured advances to stockbrokers and guarantees issued on behalf of stockbrokers and market makers should be restricted to 5 % of the outstanding advances as on March 31 of the previous year. (including Commercial Paper). Further, for computing the ceiling on exposure to capital market, direct investment in shares by banks will be calculated at cost price of the shares.44. Whether banks can indulge in short sales of shares?No. Banks are prohibited from making any short sales of share45. Whether banks can invest in their subsidiaries?Banks can invest in their subsidiaries. However, such investments will be outside the purview of 5%of the outstanding advances of the previous year and subject to compliance of Section 19 of the Banking Regulation Act, 1949.46. Which of the bills should not be discounted by the banks?The bills covering payment of electricity charges, customs duty, hire purchase/lease rental instalments, sale of securities and other types of financial accommodation should not be discounted by banks.47. Whether banks can invest in Fixed Deposits of non-banking non-financial companies?There is no prohibition on banks' placing of funds with non-banking non-financial companies under their Public Deposit Scheme. However, such investment in the Public Deposit Scheme should be classified by banks as loans/advances in their balance sheet and returns under the Banking Regulation Act, 1949 and fortnightly returns by scheduled commercial banks under Reserve Bank of India Act , 1934.48. Whether banks can purchase letter of allotment in respect of PSU Bonds?Banks can purchase letter of allotment in respect of PSU bonds subject to following conditions.1. The transaction (other than inter bank transaction) should be undertaken only through recognised Stock Exchanges and registered brokers.2. While purchasing the security, the bank should ensure that it gets a clear title to the security and the security is traded in the secondary market.The bank should formulate their own internal guidelines with the approval of the Board for undertaking such transaction.49. What should be the method of valuation for advances against shares/debentures /bonds?Shares/debentures/bonds should be valued at prevailing market prices when they are lodged as security for advances.50. Whether the banks can sanction bridge loans to companies?Yes. For a period not exceeding one year against the expected equity flows/issues as also against the expected proceeds of Non-convertible Debentures, External Commercial Borrowings, Global Depository Receipts and/or funds in the nature of Foreign Direct Investments, provided the bank is satisfied that the borrowing company has made firm arrangements for raising the aforesaid resources/funds. Such loans are required to be accommodated within the ceiling of 5% of outstanding advances of the previous year.51. What is the quantum of loans to individuals against security of shares, debentures and PSU bonds if held in physical form and in dematerialized form?The loans to individuals against the security of shares, debentures and PSU bonds if held in physical form should not exceed the limit of Rs.10 lakhs per borrower and Rs.20 lakhs if the securities are held in dematerialized form. The maximum amount of finance that can be granted to an individual for IPOs is Rs.10 lakh. The corporates should not be extended finance for investment in other companies’ IPOs and NBFCs should not be provided finance for further lending to individuals for IPOs. Finance extended by a bank for IPOs should be reckoned as an exposure to capital market.52. What is the margin stipulated for advances against shares held in physical form and dematerialized form?A uniform margin of 40% has been stipulated for all advances against shares.V. Donations53. Whether banks can make donations?Yes, the profit making banks can make donations during a financial year, aggregating upto one per cent of the published profit of the bank for previous year inclusive of donations made earlier under exempted category and donations to National funds and other funds. Banks should not make donations in excess of prescribed ceiling of one per cent as stated above. Unutilised amount of the permissible limit in a year should not be carried forward to the next year for the purpose of making donations.54. Whether loss-making banks can make donations?Yes, loss making banks can make donations totaling Rs.5 lakhs only in a financial year.55. Whether overseas branches of the banks can make donations abroad?Yes, the overseas branches of the banks can make donations abroad, provided the banks do not exceed the prescribed ceiling of one per cent of their published profit of the previous year.VI. Premises Loan56. What are the norms and procedure laid down by RBI for acquisition of accommodation on lease/rental basis by commercial banks for their use i.e. for office and residence of staff?i) Boards of Directors of the banks should lay down policy and formulate detailed operational guidelines separately in respect of metropolitan, urban, semi-urban and rural areas covering all areas in respect of acquiring premises on lease/rental basis for the bank's use including delegation of powers at various levels. The decision of surrender or shifting of premises other than at rural centres is taken at central office level by a committee of senior executives.ii) Banks' Boards should lay down a separate policy in respect of loans granted to landlords who provide to them premises on lease/rental basis. The rate of interest to be charged on such loans should be fixed as per the lending rate directives issued by RBI with minimum PLR for the loans above Rs. 2 lakhs. The rate of interest may be simple rate or compound rate as per the usual practice of the bank as applicable to other term loans.iii) Banks should evolve a suitable machinery for dealing with genuine grievances of the landlord for expeditious disposal.iv) In case of negotiated contracts in respect of advances to landlords and rental (including taxes etc. and deposits of Rs.25 lakhs and above) in respect of premises taken on lease/rental basis by public sector banks, the cases will be reported to Central Bureau of Investigation as per the extant Government instructions. This requirement is not applicable to banks in the private sector.VII Service charges57. Are there any limit prescribed by the RBI on service charges to be levied by the banks?The banks have been given the freedom to determine the service charges to be levied from their customers and the RBI has not prescribed any ceilings in this regard.

An investor in Government securities, held in the form of SC, BLA and SGL/CSGL, can avail of the facility of automatic redemption, i.e., the maturity proceeds along with the interest accruing thereon will be credited to the investor's bank account on due date and the investor need not submit physical discharge in respect of such securities provided the investor has furnished his/her bank account details to the RBI or its agent (A model format is given at the end of these FAQs). However, in case, the investor does not submit his/her bank details to the RBI or the Agency Bank, he/she would be required to submit physical discharge towards the Government securities to receive the redemption proceeds.

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, part holdings can be redeemed in multiples of one gm.

Ans. Inoperative Account is a savings/ current account wherein no ‘customer induced transactions’ has taken place for a period of over two years. For activation of inoperative accounts, the customer can update his/ her KYC information/ data at home/ non-home branch of the RE, and also through V-CIP, subject to the facility of V-CIP being provided by the bank. The banks shall activate the inoperative accounts, only after adhering to the KYC guidelines provided in the Master Direction on KYC.

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¹ Inoperative Account is defined in the circular DOR.SOG (LEG).REC/64/09.08.024/2023-24 dated January 1, 2024 on Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions

 

The Scheme is available at the following link /documents/87730/39016390/RBIOS2021_amendments05082022.pdf.

ಉತ್ತರ. ಇಲ್ಲ, ಪಿಪಿಐಗಳಲ್ಲಿ ಹಣವನ್ನು ಲೋಡ್ ಮಾಡಿದಾಗ ಕ್ರೆಡಿಟ್ ವಿಭಜನೆಯನ್ನು ಅನುಮತಿಸಲಾಗುವುದಿಲ್ಲ. ವಹಿವಾಟಿನ ಮೊತ್ತವು 50,000ಕ್ಕಿಂತ ಹೆಚ್ಚಿರುವುದರಿಂದ, ಸಂಪೂರ್ಣ ಮೊತ್ತವನ್ನು ಬ್ಯಾಂಕ್ ಖಾತೆಗೆ ಜಮಾ ಮಾಡಬೇಕಾಗುತ್ತದೆ.

The investing firm will have to be the member of the respective all-India professional organisation / body and the investment amount should not exceed US$ 1 million. or its equivalent in one financial year.

Remittance cannot be made directly or indirectly to Bhutan, Nepal, Mauritius or Pakistan. The facility is also not available for making remittances directly or indirectly to countries identified by the Financial Action Task Force (FATF) as ‘non-co-operative Countries or Territories' viz., Cook Islands, Egypt, Guatemala, Indonesia, Myanmar, Nauru, Nigeria, Phillippines and Ukraine. Further, remittance under the facility cannot be made to individuals and entities identified as posing significant risk or committing acts of terrorism as advised to banks by RBI from time to time.

As regards DICGC Guarantee fee, the banks have discretion to absorb or to pass on the guarantee fee to the borrower in case of advances over Rs.25,000/- excluding advances to weaker sections. Banks should bear DICGC guarantee fees in respect of advances upto Rs.25,000/- and all advances to weaker sections.

Yes.  In case the maturity proceeds of a Government security exceeds Rupees One lakh,  the investor(s) should furnish the PAN details in advance so as to avail the facility of automatic redemption and receive the maturity proceeds along with the accruing interest thereon in his/her account on due date.

A dedicated e-mail has been created by the Reserve Bank of India to receive queries from members of public on Sovereign Gold Bonds. Investors can mail their queries to this email id.

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. Complainants can log on to RBI’s CMS portal (https://cms.rbi.org.in) and can share their feedback under the tab “Feedback”. This feedback is analyzed at RBI for further improving the grievance redress under RB-IOS, 2021.

Ans: To ease the process of activating the ‘Inoperative Accounts’, a bank shall make available the facility of updation of KYC at all branches of the bank, through Video-Customer Identification Process (V-CIP) if requested by a account holder, subject to the facility of V-CIP being provided by the bank.

ಉತ್ತರ. ಪಿಪಿಐಅನ್ನು ಬಳಸಿಕೊಂಡು ಪ್ರತಿ ಕ್ರಮವಾಗಿ ಬರುವ ಪಾವತಿ ವಹಿವಾಟನ್ನು ಸ್ಪಷ್ಟ ಗ್ರಾಹಕರ ಒಪ್ಪಿಗೆಯಿಂದ ದೃಢೀಕರಿಸಬೇಕಾಗುತ್ತದೆ. ಅಂತೆಯೇ , ಕಾರ್ಡ್ಗಳ ರೂಪದಲ್ಲಿ ನೀಡಲಾಗುವ ಪಿಪಿಐಗಳು [ಭೌತಿಕ ಅಥವಾ ವಾಸ್ತವಿಕ] ಪಿಪಿಐ-ಎಮ್ಟಿಎಸ್ ಅಡಿಯಲ್ಲಿ ನೀಡಲಾಗಿರುವ ಪಿಪಿಐಗಳನ್ನು ಹೊರತುಪಡಿಸಿ , ಡೆಬಿಟ್ ಕಾರ್ಡ್ಗಳಿಗಾಗಿ ಅಗತ್ಯವಿರುವಂತೆ ಆ್ಯಡಿಶನಲ್ ಫ್ಯಾಕ್ಟರ್ ಆಫ್ ಆಥೆಂಟಿಕೇಶನ [ಎಎಫ್ಎ]ಅನ್ನು ಹೊಂದಿರುವುದು ಅವಶ್ಯವಾಗಿರುತ್ತದೆ

A partnership firm which fulfills the conditions stipulated under the automatic route may make the investment without prior approval and submit a report containing the following details through an authorised dealer with in 30 days of making such investments –Name and full address and registration of partnership.Full details of investment abroad.Date and amount of remittance/amount of capitalisation of fees/other entitlements due.Name and address of the foreign concern together with its line of activities.Identification number (if already allotted by the Reserve Bank)

The individual will have to designate a branch of an AD through which all the remittances under the Scheme will be made. He has to furnish an application-cum-declaration in the specified format regarding the purpose of the remittance and declare that the funds belong to him and will not be used for purposes prohibited or regulated under the Scheme.

Banks have freedom to charge interest rate beyond the declared 'spread' on advances granted to NBFCs for onlending for consumer credit.

RBI may call for information from any agent or SGL/CSGL account holder and cause an inspection or scrutiny to be made of any agent or SGL/CSGL account holder. Further, RBI may issue directions to the SGL/CSGL account holders, agents and to any other person dealing with the Government securities.

A. Under all circumstances at least 51 per cent of the voting equity shares of the NOFHC shall be held by companies in the Promoter Group, in which public shareholding is not less than 51 percent.[para 2 (C) (ii) (b) of the guidelines]

The online portal (https://cms.rbi.org.in) enables filing of complaint in two languages i.e. Hindi and English. However, facts/description of the complaint can be typed, copied and pasted in description box, in any language for upto 2,000 characters. However, the physical and email complaints can be filed in any language.

ಉತ್ತರ. ಎಲ್ಲಾ ಪಿಪಿಐಗಳು ಪಿಪಿಐನಲ್ಲಿ ಕೊನೆಯ ಲೋಡಿಂಗ್/ಮರು ಲೋಡಿಂಗ್ನ ದಿನಾಂಕದಿಂದ ಒಂದು ವರ್ಷದ ಕನಿಷ್ಠ ಸಿಂಧುತ್ವದ ಅವಧಿಯನ್ನು ಹೊಂದಿರುತ್ತವೆ. ಹೀಗಿದ್ದಾಗ್ಯೂ, ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು, ದೀರ್ಘಾವಧಿಯ ಸಿಂಧುತ್ವದೊಂದಿಗೆ ಪಿಪಿಐಗಳನ್ನು ನೀಡಲು ಮುಕ್ತರಾಗಿರುತ್ತಾರೆ. ನೀಡಿಕೆದಾರರು ಪಿಪಿಐಗಳ ನೀಡಿಕೆಯ ಸಮಯದಲ್ಲಿ ಗ್ರಾಹಕರಿಗೆ ಪಿಪಿಐನ ಮುಕ್ತಾಯದ ಅವಧಿಯನ್ನು ಸ್ಪಷ್ಠವಾಗಿ ಸೂಚಿಸುತ್ತಾರೆ.

Partnership firms, which are not eligible under the Automatic Route, are required to make an application in form ODI to the Reserve Bank for necessary approval.

The investor is free to book profit or loss abroad and to invest abroad again. He is under no obligation to repatriate the funds sent abroad.

With effect from April 1, 2002 the interest rates on loans and advances should be charged with monthly rests except in the case of agricultural advances( including short term loans and other allied activities) where the existing practice would continue. However the banks should compound the interest at monthly intervals only from April 1, 2003.

If any person, for the purpose of obtaining for himself or any other person any title to a Government security, makes false statement then he shall be punishable with imprisonment for a term which may extend to six months, or with fine, or with both. Further, RBI may impose on any person who contravenes any provision of the G S Act, or contravenes any regulation, notification or direction issued under the G S Act, or violates the terms and conditions for opening and maintenance of SGL/CSGL account a penalty not exceeding five lakh rupees and where such contravention is a continuing one, further penalty, which may extend to five thousand rupees for every day after first day during which the contravention continues.

FAQs in respect of Relief/Savings Bonds

As mentioned above, Relief/Savings Bonds are Government securities and they are issued in the form of Stock and BLA by RBI and in the form of BLA by the Agency banks. The provisions of the G S Act and the G S Regulations also apply to them. For the convenience of the Relief/Savings Bonds holders, certain specific aspects have been elaborated here.

A. Non-voting equity shares are not a part of the guidelines, but are subject to relevant laws/ SEBI guidelines. Non-voting capital will not be reckoned for the purpose of calculation of promoter shareholding in the NOFHC/ bank.

Macro level: RBI Spreads awareness on RB-IOS, 2021 and related matters through various means including:

1. Awareness campaigns hosted with the tag line “RBI Kehta Hai” and placed on the RBI website at /en/web/rbi/rbi-kehta-hai.

2. Awareness related messages placed on RBI website as well as the CMS portal. This covers cyber-crime awareness including frauds using mobile apps/ UPI/ QR codes etc.

3. Awareness messages on illegal collection of deposits by unauthorized entities are hosted on Sachet portal at https://rbi.org.in/en/web/rbi/rbi-kehta-hai/sachet-portal.

4. Messages broadcasted in various multimedia channels including during prime time.

5. RBI has released two booklets, viz., BE(A)WARE on the common modus operandi used by fraudsters and precautions to be taken while carrying out various financial transactions, and ‘Raju and the Forty Thieves’ covering forty stories providing glimpses of various fraudulent means employed by fraudsters, and provides simple tips about Do’s and Don’ts as safeguards against such incidents.

6. All banks also repeatedly send SMS/ email to their customers detailing the modus operandi of different types of frauds and the due diligence required at the customer’s end to safeguard oneself from such frauds.

7. List of Do’s and Don’t is published on the RBI website as tickers.

Apart from the above, various outreaches including by Regional Offices of RBI, Centres for Financial Literacy (CFLs) and Financial Literacy Centres (FLCs), specific awareness programmes, town hall events and display of information/ messages at various public places are being regularly held through RBI Ombudsman Offices. ‘Ombudsman Speak’ too is held in the months of March and repeated in October, every year.

ಉತ್ತರ. ಪಿಪಿಐ ದಾರರಿಗೆ ನೋಟೀಸ್ ಅನ್ನು ಕಳುಹಿಸಿದ ನಂತರ ನಿರಂತರ ಒಂದು ವರ್ಷದವರೆಗೆ ಹಣಕಾಸಿನ ವಹಿವಾಟು ಇಲ್ಲದ ಪಿಪಿಐ ಅನ್ನು ನಿಷ್ಕ್ರಿಯಗೊಳಿಸಲಾಗುತ್ತದೆ / ನಷ್ಕ್ರಿಯವೆಂದು ಪರಿಗಣಿಸಲಾಗುತ್ತದೆ. ಇದನ್ನು ದೃಢೀಕರಣದ ನಂತರ ಹಾಗೂ ಅನ್ವಯವಾಗುವ ತಕ್ಕ ತತ್ಪರತೆಯ ನಂತರ ಅದನ್ನು ಪುನಃ ಸಕ್ರಿಯಗೊಳಿಸಬಹುದು.

It will be in order for individual partners to hold shares for and on behalf of the firm in overseas JV/WOS provided the entire funding for the investment is done by the firm and if the host country regulations or operational requirements warrant such holding.

Once a remittance is made for an amount upto USD 25,000 during the calendar year, he would not be eligible to make any further remittances under this route, even if the proceeds of the investments have been brought back into the country.

The interest rate directives on bank advances will not be applicable to loans or advances or other financial accommodation made or provided or renewed by a scheduled bank, inter alia, to its own employees. Where the advances are provided by the bank to co-operative credit societies formed by the bank’s staff members for lending to constituents ( i.e. Staff of the bank ) the interest rate directives of the RBI will not apply to such advances.

Yes.  As Relief/Savings Bonds are Government securities, nomination facility is available for these as explained at Question Nos. 17, 18, 19, 20, 21 & 22 above.

The entities/individuals belonging to the Promoters/Promoter Group, which would participate in the voting equity shares of the NOFHC, would have to provide theMemorandum and Articles of Association, financial statements for past ten years and IT returns for last three years, as appropriate, at the time of submission of their application. The last available financial statements in respect of other Group entities, which do not participate in the voting equity shares of the NOFHC will also have to be furnished. The details of the Promoters’ direct and indirect interest in various entities/companies/industries and details of credit/other facilities availed by the Promoters/Promoter Group would be required of all entities. [ para 3 of Annex II to the guidelines]

Considering that a large number of customer complaints emanate on account of unsuccessful or ‘failed’ transactions, RBI has issued a circular dated September 20, 2019 on Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorised Payment Systems wherein the TAT is prescribed for reversing the funds in case of failed transactions. Further, the circular also prescribes a compensation mechanism if there is a delay on the part of Regulated Entity to reverse the funds. The details of the circular are available at /en/web/rbi/-/notifications/harmonisation-of-turn-around-time-tat-and-customer-compensation-for-failed-transactions-using-authorised-payment-systems-11693.

ಉತ್ತರ. ಯಾವುದೇ ಕಾರಣಕ್ಕಾಗಿ ಯೋಜನೆಯು ವೋಂಡ್-ಅಪ್ ಆಗಿದ್ದರೆ ಅಥವಾ ಸ್ಥಗಿತಗೊಳಿಸಲು ಆರ್ಬಿಐ ನಿರ್ದೇಶಿಸಿದ್ದರೆ ಅಂತಹ ಪಿಪಿಐದಾರರಿಗೆ ಪಿಪಿಐನಲ್ಲಿರುವ ಬಾಕಿ ಇರುವ ಶಿಲ್ಕನ್ನು ಮರುಳಿಪಡೆದುಕೊಳ್ಳಲು ಅನುಮತಿ ನೀಡಲಾಗುವುದು.

The remittances can be in any currency equivalent to USD 25,000 in a calendar year.

No.

Indian parties which have majority share holding in a foreign entity abroad are required to seek specific approval of Reserve Bank of India for setting up of a second generation company in case:the foreign entity has been in operation for a period of less than two years; orthe Indian party has not repatriated the amount of dividends, fees and royalties due to it from the foreign entity; orproceeds of exports to the foreign entity have not been realised in accordance with the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000; oradditional capital contribution is required from India.

The entities/individuals belonging to the Promoters/Promoter Group, which would participate in the voting equity shares of the NOFHC, would have to provide theMemorandum and Articles of Association, financial statements for past ten years and IT returns for last three years, as appropriate, at the time of submission of their application. The last available financial statements in respect of other Group entities, which do not participate in the voting equity shares of the NOFHC will also have to be furnished. The details of the Promoters’ direct and indirect interest in various entities/companies/industries and details of credit/other facilities availed by the Promoters/Promoter Group would be required of all entities. [ para 3 of Annex II to the guidelines]

Yes.  The facility of automatic redemption, i.e., the facility to receive maturity proceeds along with interest accruing thereon on due date without the hassle of visiting the RBI/Agency Bank and submitting physical discharge in respect of the maturing Relief/Savings Bonds is available to all the Relief/Savings Bond investors as explained at Question Nos. 36 & 37 above.

Customers must report to the bank immediately after noticing any unauthorized transactions in their accounts. Delay in reporting reduces their chance of getting the money back.

In terms of RBI circular on Limiting Liability of Customers in Unauthorised Electronic Banking Transactions dated July 06, 2017, zero liability of the customer shall arise if:

1. Contributory fraud/ negligence/ deficiency is there on the part of the bank (irrespective of whether or not the transaction is reported by the customer).

2. Third party breach where the deficiency lies neither with the bank nor with the customer but lies elsewhere in the system, and the customer notifies the bank within three working days of receiving the communication from the bank regarding the unauthorised transaction.

Limited Liability of a Customer

A customer shall be liable for the loss occurring due to unauthorized transactions in the following cases:

1. In cases where the loss is due to negligence by a customer, such as where he/she has shared the payment credentials, the customer will bear the entire loss until the unauthorized transaction was reported to the bank. Any loss occurring after the reporting of the unauthorized transaction shall be borne by the bank.

2. In cases where the responsibility for the unauthorized electronic banking transaction lies neither with the bank nor with the customer, but lies elsewhere in the system and when there is a delay (of four to seven working days after receiving the communication from the bank) on the part of the customer in notifying the bank of such a transaction, the per transaction liability of the customer shall be limited as given in the circular.

ಉತ್ತರ. ಪಿಪಿಐಗೆ ಡೆಬಿಟ್ ಮೂಲಕ ಪ್ರಾರಂಭದಲ್ಲಿ ಮಾಡಿರುವ ಪಾವತಿಮಾಡಿದ ಮಟ್ಟಿಗೆ , ಅಂತಹ ಫಂಡ್ಗಳ ಅಪ್ಲಿಕೇಶನ್ ಪಿಪಿಐನ ಆ ಪ್ರಕಾರ/ವರ್ಗಕ್ಕಾಗಿ ನಿಗದಿಪಡಿಸಿದ ಮಿತಿಗಳನ್ನು ಮೀರಿದರೆ ಅಂತಹ ಫಂಡ್ಗಳ ಅನ್ವಯವೂ ಸಹ , ವಿಫಲವಾದ/ಹಿಂತಿರುಗಿದ/ತಿರಸ್ಕರಿಸಿದ/ರದ್ದಾದ ವಹಿವಾಟುಗಳ ಸಂದರ್ಭದಲ್ಲಿ ಮರುಪಾವತಿಯನ್ನು ತಕ್ಷಣ ಸಂಬಂಧಪಟ್ಟ ಪಿಪಿಐಗೆ ಅನ್ವಯಿಸಲಾಗುವುದು.

The stipulation that investors could invest in equities of overseas listed firms that hold at least 10% in a listed Indian firm which was made in terms of our A.P.(DIR Series) Circular No.66 dated January 13, 2003 continues as an additional facility. Under the current Liberalised Remittance Scheme, no such stipulation has been made.

No.

The shares of a JV/WOS can be pledged as a security for availing fund based or non-fund based facility for the concerned entity or for the JV/WOS from an authorised dealer/ public financial institution in India.

Relief/Savings Bonds provide the investors to opt for cumulative/non-cumulative interest payment. In case of cumulative bonds, the interest is payable along with the principal at the time of redemption. However, in case of non-cumulative bonds, the same is paid at half-yearly intervals. If an investor requires regular income flow then it is suggested that he/she should opt for non-cumulative mode of interest payment. Interest can be paid through interest warrants delivered through registered post or can be credited to the investor's bank account on due date, in case the investor has submitted the bank details as per the ECS Mandate form available in the offices of RBI and the Agency Banks. (A model format is given at the end of these FAQs).

A. The NOFHC has to be wholly owned by a single Promoter/Promoter Group ( as per the definition given in the Annex I to the guidelines) and the pattern of shareholding would be as per the provisions laid down at para 2 ( C ) ( ii ) & ( iii) of the guidelines. Two or more separate Groups cannot combine together to set up a NOFHC.

In terms of Master circular on Customer Service in Banks dated July 1, 2015 , banks are advised to have a board approved policy providing infrastructure facilities by branches by bestowing particular attention to providing adequate space, proper furniture, drinking water facilities, with specific emphasis on pensioners, senior citizens, disabled persons, etc. Further, Banks are advised to include senior citizens preferably in Branch Level Customer Service Committee.

In terms of Statement on Developmental and Regulatory Policies - October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons dated November 9, 2017 banks are required to put in place appropriate mechanism with the following specific provisions:

1. Dedicated Counters/Preference to Senior Citizens, differently abled persons - Banks are advised to provide a clearly identifiable dedicated counter or a counter which provides priority to senior citizens and people who are differently abled including visually impaired persons.

2. Ease of submitting Life Certificate - banks shall ensure that when a Life Certificate is submitted in any branch, including a non-home branch, of the pension paying bank, the same is updated/ uploaded promptly in CBS by the receiving branch itself, to avoid any delay in credit of pension.

3. Cheque Book Facility - Banks shall not insist on physical presence of any customer including senior citizens and differently abled persons for getting cheque books.

4. Automatic conversion of status of accounts - Banks are advised that a fully KYC compliant account should automatically be converted into a ‘Senior Citizen Account’ based on the date of birth available in bank’s records.

5. Ease of filing Form 15G/H - Banks are advised to provide senior citizens and differently abled persons Form 15G/H once in a year (preferably in April) to enable them to submit the same, where applicable, within the stipulated time.

6. Door Step Banking - banks are advised to make concerted effort to provide basic banking facilities, such as pick up of cash and instruments against receipt, delivery of cash against withdrawal from account, delivery of demand drafts, submission of Know Your Customer (KYC) documents and Life certificate at the premises/ residence of such customers.

The Scheme does not restrict such transactions, provided the transactions are within the limit of USD 25,000 per calendar year and is otherwise in order.

The total exposure including both fund based and non-fund based, to capital market by a bank in all forms covering direct investment by a bank in equity shares, convertible bonds and debentures and units of equity oriented mutual funds; Advances against shares to individuals for investment in equity shares (including IPOs ), bonds and debentures, units of equity-oriented mutual funds etc and secured and unsecured advances to stockbrokers and guarantees issued on behalf of stockbrokers and market makers should be restricted to 5 % of the outstanding advances as on March 31 of the previous year. (including Commercial Paper). Further, for computing the ceiling on exposure to capital market, direct investment in shares by banks will be calculated at cost price of the shares.

Disinvestment of holding in a JV/WOS abroad requires prior approval of the Reserve Bank of India for which the holder will have to submit an application furnishing the reasons /justifications for such disinvestment along with a Chartered Accountant’s valuation certificate, latest audited financial statements of the JV/WOS, Board Resolution approving the disinvestment and Chartered Accountant’s certificate regarding position of dues of the WOS and total amount to be received by parent company on disinvestment.

ಉತ್ತರ. ಯಾವುದೇ ಇತರ ಪಾವತಿ ಉಪಕರಣವನ್ನು ಬಳಸಿಕೊಂಡು ವಿಫಲವಾದ/ಹಿಂತಿರುಗಿದ /ತಿರಸ್ಕರಿಸಿದ/ರದ್ದಾದ ವಹಿವಾಟುಗಳ ಸಂದರ್ಭದಲ್ಲಿ ಮರುಪಾವತಿಯನ್ನು ಪಿಪಿಐಗೆ ಕ್ರೆಡಿಟ್ ಮಾಡಬಾರದು ಹಾಗೂ ಅದೇ ಪಾವತಿ ಉಪಕರಣಕ್ಕೆ ಮತ್ತೆ ಕ್ರೆಡಿಟ್ ಮಾಡಬೇಕು.

As explained at Question No. 31, with effect from June 1, 1997, there is no TDS upon interest payable on Government Security. However, as per Finance Act, 2007 and Government of India Notification No. F.4(10)-W&M/2003 dated May 31, 2007, tax has to be deducted at source on the interest exceeding Rupees ten thousand payable during a financial year on 8% Savings Bonds, 2003 (Taxable) with effect from June 1, 2007. Accordingly, there is no TDS upon interest payment in respect of Relief/Savings Bonds other than 8% Savings Bonds, 2003 (Taxable).

A. A Group which does not have any company or which will not be able to have a company with public shareholding of not less than 51 per cent cannot apply for banking licence, since at least 51 per cent of the voting equity shares of the NOFHC have to be held by companies in the Promoter Group, in which public hold not less than 51 per cent of the voting equity shares. If the Promoter Group has a company in which public holding is not less than 51 per cent, at least 51 per cent of the voting equity shares of the NOFHC is required to be held by that company. It is not necessary that all Group companies in which public shareholding is not less than 51% should be shareholders of the NOFHC [para 2 (C) (ii)(b) of the guidelines].

Banks including those not having operational presence in India are required to obtain prior approval from Reserve Bank for soliciting deposits for their foreign/overseas branches or for acting as agents for overseas mutual funds or any other foreign financial services company.

An Indian Party will have to comply with the following: -receive share certificates or any other documentary evidence of investment in the foreign entity to the satisfaction of the Reserve Bank within six months, failing which an application for extension of time citing reasons for non-receipt will have to be made to the Reserve Bank.repatriate to India, all dues receivable from the foreign entity, like dividend, royalty, technical fees etc., within 60 days of its falling due, or such further period as the Reserve Bank may permit.submit to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture/Wholly Owned Subsidiary outside India an Annual Performance Report in form APR in respect of each Joint Venture or Wholly Owned Subsidiary outside India set up or acquired by the Indian party. This APR should inevitably be accompanied byCopies of FIRCs in support of inward remittances on account of dividend, royalty, etc.Audited Financial Statements of the overseas venture.CA’s certificate in support of realization of export proceeds.A note on the working of the JV/WOS during the previous year highlighting the ups and downs, reasons for non-performance, etc. in monetary terms. In case the promoter company is unable to submit APRs within the stipulated time, an application on the due date should be made to the Reserve Bank of India seeking extension, giving reasons for the same.

No. Banks are prohibited from making any short sales of share

ಉತ್ತರ. ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಔಪಚಾರಿಕ,ಸಾರ್ವಜನಿಕವಾಗಿ ಬಹಿರಂಗಪಡಿಸಿದ ಗ್ರಾಹಕರ ಕುಂದುಕೊರತೆ ಪರಿಹಾರ ದೂರಿನ ಪರಿಹಾರಕ್ಕಾಗಿ ಗ್ರಾಹಕರ ದೂರುಗಳು/ಕುಂದುಕೊರತೆಗಳನ್ನು ನಿಭಾಯಿಸಲು ನೋಡಲ್ ಅಧಿಕಾರಿಯನ್ನು ನೇಮಿಸುವುದು, ದೂರಿನ ಪರಿಹಾರಕ್ಕಾಗಿ ಎಸ್ಕಲೇಷನ್ ಮ್ಯಾಟ್ರಿಕ್ಸ್ ಹಾಗೂ ಟರ್ನ್- ಅರೌಂಡ್ -ಟೈಮ್ ಅನ್ನು ಒಳಗೊಂಡ ಸಂಸ್ಥೆಗಳ ನಿಯಮಗಳ ಚೌಕಟ್ಟನ್ನು ಜಾರಿಗೆ ತರಬೇಕು. ಸಂಸ್ಥೆಗಳ ನಿಯಮಗಳ ಚೌಕಟ್ಟಿನಲ್ಲಿ ಕನಿಷ್ಠ, ಈ ಕೆಳಗಿನವುಗಳನ್ನು ಒಳಗೊಂಡಿರಬೇಕು:

1. ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಗ್ರಾಹಕರ ರಕ್ಷಣೆ ಹಾಗೂ ಕುಂದುಕೊರತೆ ಪರಿಹಾರ ನೀತಿಯ ಮಾಹಿತಿಯನ್ನು ಸರಳ ಭಾಷೆಯಲ್ಲಿ ಪ್ರಸಾರ ಮಾಡುವುದು.
2. ವೆಬ್ಸೈಟ್, ಮೊಬೈಲ್ ಆ್ಯಪ್ಗಳು, ಹಾಗೂ ಕಾರ್ಡ್ಗಳಲ್ಲಿ ಕುಂದು ಕೊರತೆ ಪರಿಹಾರಕ್ಕಾಗಿ ನೋಡಲ್ ಅಧಿಕಾರಿಗಳ ವಿವರಗಳನ್ನು ಒಳಗೊಂಡು, ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಕಸ್ಟಮರ್ ಕೇರ್ ಸಂಪರ್ಕ ವಿವರಗಳನ್ನು ಸ್ಪಷ್ಟವಾಗಿ ತೋರಿಸುವುದು.
3. ಮೇಲಿನ [ಬಿ]ನಲ್ಲಿರುವಂತೆ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಏಜಂಟರು ಹಾಗೂ ಕಸ್ಟಮರ್ ಕೇರ್ ಸಂಪರ್ಕವಿವರಗಳಿಂದ ಸರಿಯಾದ ಸಂಕೇತವನ್ನು ಪ್ರದರ್ಶಿಸುವುದು.
4. ಗ್ರಾಹಕರಿಂದ ದೂರಿನ ಸ್ಥಿತಿಯನ್ನು ಟ್ರ್ಯಾಕ್ ಮಾಡುವ ಸೌಲಭ್ಯದೊಂದಿಗೆ ಸಲ್ಲಿಸಲಾದ ದೂರುಗಳಿಗಾಗಿ ನಿರ್ದಿಷ್ಟ ದೂರಿನ ಸಂಖ್ಯೆಗಳನ್ನು ಒದಗಿಸುವುದು.
5. ಯಾವುದೇ ಗ್ರಾಹಕರ ದೂರು/ಕುಂದುಕೊರತೆಗಳನ್ನು ತಕ್ಕಸಮಯದಲ್ಲಿ, ತ್ವರಿತವಾಗಿ 48 ಗಂಟೆಗಳೊಳಗೆ ಪರಿಹರಿಸಲು ಪ್ರಾರಂಭಿಸುವುದು ಹಾಗೂ ಅಂತಹ ದೂರು/ಕುಂದುಕೊರತೆಯನ್ನು ಪಡೆದ ದಿನಾಂಕದಿಂದ 30 ದಿನಗಳ ಒಳಗೆ ಪರಿಹರಿಸುವುದು.
6. ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಅಧಿಕೃತ /ಗೊತ್ತುಪಡಿಸಿದ ಏಜಂಟರ [ಹೆಸರು, ಏಜಂಟ್ ಐಡಿ,ವಿಳಾಸ,ಸಂಪರ್ಕ ವಿವರಗಳು, ಮುಂತಾದ] ವಿವರವಾದ ಪಟ್ಟಿಯನ್ನು ಪ್ರದರ್ಶಿಸುವುದು.
7. ಪಿಪಿಐಗಳಿಗೆ ಸಂಬಂಧಿಸಿದ ವೆಬ್ಸೈಟ್/ಮೊಬೈಲ್ ಆ್ಯಪ್ ನಲ್ಲಿ ಫ್ರಿಕ್ವೆಂಟ್ಲಿ ಆಸ್ಕಡ್ ಕ್ವಶ್ಚನ್ [ಎಫ್ಎಕ್ಯೂ]ಗಳಿಗೆ ಉತ್ತಗಳನ್ನು ಸಹ ಒದಗಿಸುವುದು.

Yes. The facility to create pledge, hypothecation or lien against Relief/Savings Bonds is available as in case of other Government securities as explained at Question Nos. 33 & 34. The Government of India has amended the notifications relating to 7% Savings Bonds, 2002, 6.5% Savings Bonds, 2003 (Non-Taxable) and 8% Savings (Taxable) Bonds, 2003 schemes allowing for pledge or hypothecation or lien of these bonds as collateral for obtaining loans from the scheduled banks with effect from August 19, 2008. However, such collateral facility is available only for the loans to be availed by the holders of the bonds and not in respect of the loans availed by third parties.

A. No. No non-resident shareholder, directly or indirectly, individually or in group through subsidiary, associate or joint venture will be permitted to hold 5 per cent or more in the paid up voting equity capital of the bank for a period of 5 years from the commencement of the business of the bank. [ para 2 (F) of the guidelines ]

ಉತ್ತರ. ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಪಿಪಿಐ ದಾರರಿಗೆ ಕನಿಷ್ಠಪಕ್ಷ ಹಿಂದಿನ 6 ತಿಂಗಳಿಗಾಗಿ ಖಾತೆ ಹೇಳಿಕೆಗಳನ್ನು ರಚಿಸಲು/ಪಡೆಯಲು ಆಯ್ಕೆಯನ್ನು ನೀಡಬೇಕು. ಖಾತೆ ಸ್ಟೇಟ್ಮೆಂಟ್, ಕನಿಷ್ಠ ವಹಿವಾಟಿನ ದಿನಾಂಕ,ಡೆಬಿಟ್/ಕ್ರೆಡಿಟ್ ಮೊತ್ತ,ನಿವ್ವಳ ಶಿಲ್ಕು ಹಾಗೂ ವಹಿವಾಟಿನ ವಿವರಣೆಯಂತಹ ವಿವರಗಳನ್ನು ನೀಡಬೇಕು. ಹೆಚ್ಚುವರಿಯಾಗಿ, ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಕನಿಷ್ಠ ಪಕ್ಷ 10 ವಹಿವಾಟುಗಳಿಗಾಗಿ ವಹಿವಾಟಿನ ಇತಿಹಾಸವನ್ನು ಒದಗಿಸಬೇಕು .

It has been decided in public interest that all banks, both Indian and foreign, including those not having an operational presence in India, should seek prior approval from Reserve Bank for the schemes being marketed by them in India to Indian residents either for soliciting foreign currency deposits for their foreign/overseas branches or for acting as agents for overseas mutual funds or any other foreign financial services company.

Reserve Bank takes a serious view on non-submission of such reports and can take such measures against the delinquent company as it deems fit including reference to Enforcement Directorate.

Banks can invest in their subsidiaries. However, such investments will be outside the purview of 5%of the outstanding advances of the previous year and subject to compliance of Section 19 of the Banking Regulation Act, 1949.

The title to Relief/Savings Bonds of a deceased sole holder or joint holder may be recognised as per the simplified procedure explained at Question No. 16.

A. No.It is not envisaged that all the companies in the Promoter Group have to set up the wholly owned NOFHC. As provided in para 2(C)(iii) of the guidelines, only the non-financial services companies/entities and non-operative financial holding companies in the Promoter Group and individuals belonging to Promoter Group, conforming to the stipulation in para 2(C)(ii)(a) and (b), will be allowed to hold the shares of NOFHC. Further, para 2(C)(vii) requires that all the regulated financial services entities, in which the Promoter Group has ‘significant influence’ or ‘control’, (as defined in Accounting Standard 23) shall be held by the NOFHC, and that, such entities cannot hold shares in the NOFHC [para 2 (C) (iii) & (vii)].

No ratings or guidelines have been prescribed under the Liberalised Remittance Scheme of USD 25,000 on the quality of the investment an individual can make. However, the individual investor is expected to exercise due diligence while taking a decision regarding the investments which he or she proposes to make.

Resident individuals in India can acquire foreign securities without prior approval in the following cases: -by way of gift from a person outside India; orissued by a company incorporated outside India under Cashless Employees Stock Option Scheme which does not involve any remittance from India; orby way of inheritance from a person whether resident in or outside India; orpurchase of foreign securities out of funds held in the Resident Foreign Currency Account maintained in accordance with the Foreign Exchange Management (Foreign Currency Account) Regulations, 2000; orbonus shares on the foreign securities already held by them; orResident individuals are permitted to make overseas investments without any limit in listed overseas companies that have at least 10% share in an Indian company listed in a recognized stock exchange in India as on 1st January of the year of investment.

The bills covering payment of electricity charges, customs duty, hire purchase/lease rental instalments, sale of securities and other types of financial accommodation should not be discounted by banks.

Yes.  Relief/Savings Bonds, like other Government securities, can be transferred by execution of transfer forms as explained at Question No. 14. However, the specific Government loan notifications issued for the 7% Savings Bonds, 2002, 6.5% Savings Bonds, 2003 (Non taxable) and 8% Savings Bonds, 2003 (Taxable) have prescribed the specific conditions subject to which such transfers may take place. While all the three Savings Bonds are transferable to the nominee in case of death of the holder, the 7% Savings Bonds, 2002 and 6.5% Savings Bonds, 2003 (Non taxable) are also transferable by way of gift to a "relative" as defined in section 6 of the Indian Companies Act, 1956. Section 6 of the Indian Companies Act, 1956 defines "relative" as under:

A person shall be deemed to be a relative of another if and only if,

a) they are members of a Hindu undivided family; or
b) they are husband and wife; or
c) the one is related to the other in the manner indicated in Schedule 1A of the Indian Companies Act, 1956.

Apart from the above, the three Savings Bonds shall also be transferable in favour of the pledgee/creditor, if the pledgee/creditor invokes the pledge, hypothecation or lien as per Regulation 21 (3) of the G S Regulations.

A. The Promoters/Promoter Group cannot set up a bank directly. They have to first set up a wholly owned NOFHC, which will hold the bank and other regulated financial services entities/companies in which the Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard-23).NOFHC could be set-up with equity participation by a sub-set of non-financial services companies/entities/individuals and non-operative financial holding companies in the Promoter Group provided the equity participation is in conformity with the stipulation at para 2 (C) (ii) of the guidelines.

उत्तर. बैंकों और गैर-बैंकों द्वारा ज़ारी किए गए पीपीआई के मामले में, ग्राहक शिकायत निवारण के लिए रिजर्व बैंक - एकीकृत लोकपाल योजना, 2021 का सहारा ले सकते है। यह योजना आरबीआई की वेबसाइट https://cms.rbi.org.in लिंक पर उपलब्ध है।

ಉತ್ತರ. ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಗ್ರಾಹಕರಿಗೆ ಈ ಕೆಳಗಿನ ಎರಡು ಪ್ರಕಾರಗಳಲ್ಲಿ ಯಾವುದೇ ಒಂದನ್ನು ನೀಡಬಹುದು:
ಎ] ಕನಿಷ್ಠ ವಿವರದ ಸೆಮಿ-ಕ್ಲೋಸ್ಡ್ ಪಿಪಿಐ;
ಬಿ]ಕೆವೈಸಿ ಕಂಪ್ಲೈಂಟ್ ಸೆಮಿಕ್ಲೋಸ್ಡ್/ಓಪನ್ ಸಿಸ್ಟಮ್ ಪಿಪಿಐ;

There is no prohibition on banks' placing of funds with non-banking non-financial companies under their Public Deposit Scheme. However, such investment in the Public Deposit Scheme should be classified by banks as loans/advances in their balance sheet and returns under the Banking Regulation Act, 1949 and fortnightly returns by scheduled commercial banks under Reserve Bank of India Act , 1934.

Banks may take necessary steps in the matter based on the settled legal position regarding enforcement of the declaration in case the remittance is made on behalf of a minor.

Yes, a person resident in India, being an individual, who is an employee or a director of Indian office or branch of a foreign company or of a subsidiary in India of a foreign company or of an Indian company in which foreign equity holding is not less than 51 per cent, may purchase the equity shares offered by the said foreign company: -Provided that the shares are offered at a concessional price.

The bank shall compensate the investors for the above mentioned financial loss at a fixed rate of 8% per annum (with effect from April 10, 2012).

A. The Promoters/Promoter Group have to first set up a wholly owned NOFHC for holding the bank. They cannot set up a bank directly. In case, some entities/companies in the Promoter Group having ‘significant influence’ or ‘control’ (as defined in Accounting Standard-23) in regulated or unregulated financial services activities do not wish to participate in the voting equity of the NOFHC, they can do so. However, the regulated financial services entities, in which the companies in the Promoter Group have ‘significant influence’ or ‘control’ (as defined in Accounting Standard-23), have to come under the NOFHC. The unregulated financial services activities/entities of the Promoter Group cannot come under the NOFHC. [para 2 (C) (i), (ii), (iii) & (vii) of the guidelines]

No. The Scheme does not envisage extension of credit facility against the security of the deposits.

Yes, Reserve Bank has given general permission to a person resident of India to acquire foreign security to the extent of the minimum number of qualification shares required to be held for holding the post of Director and this amount shall not exceed 1% of the paid-up capital of the company subject to a limit of USD 20,000 in a calendar year.

Banks can purchase letter of allotment in respect of PSU bonds subject to following conditions. 1. The transaction (other than inter bank transaction) should be undertaken only through recognised Stock Exchanges and registered brokers. 2. While purchasing the security, the bank should ensure that it gets a clear title to the security and the security is traded in the secondary market. The bank should formulate their own internal guidelines with the approval of the Board for undertaking such transaction.

ಉತ್ತರ.

ಮೇಲೆ ನಮೂದಿಸಿರುವ ಪ್ರಕಾರಗಳಲ್ಲಿ, ವಿವಿಧ ಕಾರಣಗಳಿಂದಾಗಿ [ಉದಾ. ಅನೇಕ ಸಹ-ಬ್ರ್ಯಾಂಡಿಂಗ್ ಪಾಲುದಾರರು, ವಾಲೆಟ್ಗಳು/ಕಾರ್ಡ್ಗಳಂತಹ ವಿಭಿನ್ನ ರೂಪಗಳಲ್ಲಿ ಪಿಪಿಐನ ನೀಡಿಕೆ] ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಒಂದೇ ಗ್ರಾಹಕರಿಗೆ ಅನೇಕ ಪಿಪಿಐಗಳನ್ನು ನೀಡುತ್ತಿದ್ದರೆ, ಆಗ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಕೇಂದ್ರೀಕೃತ ಡೇಟಾಬೇಸ್ /ಮ್ಯಾನೇಜ್ಮೆಂಟ್ ಇನ್ಫಾರ್ಮೇಶನ್ ಸಿಸ್ಟಮ್ [ಎಮ್ಐಎಸ್]ಮೂಲಕ ಮಿತಿಗಳನ್ನು ಮೇಲ್ವಿಚಾರಣೆ ಮಾಡುತ್ತಾರೆ.

ಉದಾಹರಣೆಗಾಗಿ , ವಿವಿಧ ವ್ಯವಸ್ಥೆಗಳು/ ಫಾರ್ಮ್ ಪ್ಯಾಕ್ಟರ್[ರಚನೆಯ ಅಂಶದ] ಅಡಿಯಲ್ಲಿ ನಿರ್ದಿಷ್ಟ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರಿಂದ ಗ್ರಾಹಕರಿಗೆ ನೀಡುವ ಎಲ್ಲಾ ಕೆವೈಸಿ ಕಂಪ್ಲೈಂಟ್ ಪಿಪಿಐಗಳಲ್ಲಿನ ಮೌಲ್ಯವನ್ನು ಸಂಯೋಜಿಸಿದ ನಂತರ ಯಾವುದೇ ಸಮಯದಲ್ಲಿ 1,00,000/-ಮಿತಿಯನ್ನು ಲೆಕ್ಕಹಾಕಲಾಗುತ್ತದೆ.

ಅಂತೆಯೇ ಪಿಪಿಐ ಎಮ್ಡಿಯ ಪ್ಯಾರಾಗ್ರಾಫ್ 9.1[i]ಯಲ್ಲಿನ 10,000ದ ಮಿತಿಯು ಎಲ್ಲಾ ಕನಿಷ್ಠ ವಿವರ ಪಿಪಿಐ[ ವಿವಿಧ ವ್ಯವಸ್ಥೆಗಳು/ ಫಾರ್ಮ್ ಪ್ಯಾಕ್ಟರ್ಅಡಿಯಲ್ಲಿ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರಿಂದ ನೀಡಿದ] ಗಳಾದ್ಯಂತದಲ್ಲಿದೆ .

ಹೀಗಿದ್ದಾಗ್ಯೂ, ಪಿಪಿಐ-ಎಮ್ಡಿಯ ಪ್ಯಾರಾಗ್ರಾಫ್ 10 ರಲ್ಲಿ ನಮೂದಿಸಿದ [ಮಾಸ್ ಟ್ರಾನ್ಸಿಟ್ ಸಿಸ್ಟಮ್ [ಪಿಪಿಐ-ಎಮ್ಟಿಎಸ್]ಗಾಗಿ ಗಿಫ್ಟಿಂಗ್ ಉಪಕರಣಗಳು ಹಾಗೂ ಪಿಪಿಐಗಳು]ಎರಡು ವರ್ಗಗಳು ಮಿತಿಗಳನ್ನು ಒಳಗೊಂಡಿರುವುದಿಲ್ಲ.

A. Yes. All the regulated financial services entities in which the Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) will have to be brought under the NOFHC as subsidiaries, or associates or joint ventures. [para 2 (C) (iii) & (vii) of the guidelines]

No. Banks in India can not open a foreign currency account in India for residents under the Scheme.

Yes, Reserve Bank on an application may permit a person resident in India to acquire foreign securities by way of rights shares issued by a company incorporated outside India up to an amount not exceeding US$ 20,000 in a block of five calendar years in case the existing shares were held in accordance with the provisions of the law.

Shares/debentures/bonds should be valued at prevailing market prices when they are lodged as security for advances.

Ans. Interoperability is the technical compatibility that enables a payment system to be used in conjunction with other payment systems. Interoperability has been allowed in PPIs through circular dated October 16, 2018 and it has been made mandatory vide circular dated May 19, 2021.