The Ministry of Micro, Small and Medium Enterprises vide Office Memorandum No. 5/2(2)/2021-E/P & G/Policy dated July 02, 2021 decided to include Retail and Wholesale trade as MSMEs for the limited purpose of Priority Sector Lending and they would be allowed to be registered on Udyam Registration Portal. Detailed guidelines are available in our circular FIDD.MSME & NFS.BC.No.13/06.02.31/2021-22 dated July 07, 2021.

'ಬೇಸಿಕ್ ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಡಿಪೋಸಿಟ್ ಅಕೌಂಟ್' ಖಾತೆದಾರರು ಅದೇ ಬ್ಯಾಂಕಿನಲ್ಲಿ ಇತರ ಯಾವುದೇ ಸೇವಿಂಗ್ಸ್ ಖಾತೆ ಹೊಂದಬಹುದೇ ?

For the borrowers eligible for resolution under the circular dated August 6, 2020 on Resolution Framework for COVID-19-related Stress, the circular dated August 6, 2020 will be applicable if a resolution process under the circular is invoked. For all other borrowers, the extant instructions as otherwise applicable shall still be in force. However, if any entity is otherwise eligible to be resolved under the Resolution Framework, only Resolution Framework can be used for resolving the stress arising out of the pandemic.

ಉತ್ತರ. ಹೋಲ್ಡರ್ [ದಾರರು ] ಒಬ್ಬ ವ್ಯಕ್ತಿ /ಸಂಸ್ಥೆಯಾಗಿದ್ದು ಪಿಪಿಐ ನೀಡಿಕೆದಾರರಿಂದ ಪಿಪಿಐ ಪಡೆಯುತ್ತಾರೆ /ಖರೀದಿಸುತ್ತಾರೆ ಹಾಗೂ ಹಣಕಾಸು ಸೇವೆಗಳು,ಹಣ ರವಾನೆ ಸೌಲಭ್ಯಗಳು, ಮುಂತಾದವುಗಳನ್ನೊಳಗೊಂಡು , ಸರಕುಗಳು ಹಾಗೂ ಸೇವೆಗಳನ್ನು ಖರೀದಿಸುವುದಕ್ಕಾಗಿ ಅದನ್ನು ಬಳಸುತ್ತಾರೆ. ಆದಾಗ್ಯೂ ,ಗಿಫ್ಟ್ ಪಿಪಿಐನ ಸಂದರ್ಭದಲ್ಲಿ , ಉದ್ದೇಶಿತ ಫಲಾನುಭವಿಯು[ಖರೀದಿದಾರನಲ್ಲದಿದ್ದರು] ಸಹ ಹೋಲ್ಡರ್ ಆಗಿರಬಹುದು.

ಉತ್ತರ. ಎನ್ಇಎಫ್ಟಿಯು ಎಲೆಕ್ಟ್ರಾನಿಕ್ ಫಂಡ್ ವರ್ಗಾವಣೆಯ ವ್ಯವಸ್ಥೆಯಾಗಿದ್ದು ಇದರಲ್ಲಿ ನಿರ್ದಿಷ್ಟ ಸಮಯದವರೆಗೆ ಪಡೆದ ವಹಿವಾಟುಗಳನ್ನು ಬ್ಯಾಚ್ಗಳಲ್ಲಿ ಪರಿಷ್ಕರಿಸಲಾಗುತ್ತದೆ. ಇದಕ್ಕೆ ಪ್ರತಿಕೂಲವಾಗಿ ಆರ್ಟಿಜಿಎಸ್ನಲ್ಲಿ , ಆರ್ಟಟಿಜಿಎಸ್ ವ್ಯವಹಾರದ ಸಮಯಗಳ ಉದ್ದಕ್ಕೂ ವಹಿವಾಟಿನ ಆಧಾರದ ಮೂಲಕ ವಹಿವಾಟಿನ ಮೇಲೆ ವಹಿವಾಟುಗಳನ್ನು ನಿರಂತರವಾಗಿ ಪರಿಷ್ಕರಿಸಲಾಗುತ್ತದೆ.

The Department / Office selected by the applicant, while submitting his/her application through ATS, will receive the application.

Ans. Such a company shall have to submit to RBI, a letter of its intention either to become a Factor or to unwind the business totally, and a road map to this effect. The company would be granted CoR as NBFC-Factor only after it complies with the twin criteria of financial assets and income. If the company does not comply within the period as specified by the Bank, it would have to unwind the factoring business.

The potential users of the NDS-OM Web Module are GAHs permitted by RBI to access the NDS OM Web Based Module. So far, GAHs have only the indirect access through CSGL route for placing their order/bid feed into NDS-OM. Now in addition to the indirect access, permitted GAHs can directly deal on the NDS-OM Web system, subject to controls set by PM. The access to the GAH to the NDS-OM Web Based Module is granted on a request made on his behalf by its Primary Member.

Answer: Unless otherwise specifically stated in the features of the account, a foreign currency account maintained by a person resident in India with an authorized dealer in India can be opened, held and maintained in the form of current or savings or term deposit account in cases where the account holder is an individual, and in the form of current account or term deposit account in all other cases. The account can be held singly or jointly in the name of person eligible to open, hold and maintain such account.

No bank can refuse to accept outstation cheques deposited for collection or refuse to offer its products to customers.

Ans. Not permanently resident means a person resident in India for employment of a specified duration (irrespective of length) or for a specific job duration which does not exceed three years.

Ans Step-1: The remitter fills in the EFT Application form giving the particulars of the beneficiary (city, bank, branch, beneficiary’s name, account type and account number) and authorises the branch to remit a specified amount to the beneficiary by raising a debit to the remitter’s account. Step-2: The remitting branch prepares a schedule and sends the duplicate of the EFT application form to its Service branch for EFT data preparation. If the branch is equipped with a computer system, data preparation can be done at the branch level in the specified format. Step-3: The Service branch prepares the EFT data file by using a software package supplied by RBI and transmits the same to the local RBI (National Clearing Cell) to be included for the settlement. Step-4: The RBI at the remitting centre consolidates the files received from all banks, sorts the transactions city-wise and prepares vouchers for debiting the remitting banks on Day-1 itself. City-wise files are transmitted to the RBI offices at the respective destination centres. Step-5: RBI at the destination centre receives the files from the originating centres, consolidates them and sorts them bank-wise. Thereafter, bank-wise remittance data files are transmitted to banks on Day 1 itself. Bank-wise vouchers are prepared for crediting the receiving banks’ accounts the same day or next day. Step-6: On Day 1/2 morning the receiving banks at the destination centres process the remittance files transmitted by RBI and forward credit reports to the destination branches for crediting the beneficiaries’ accounts.

Ans. All transactions to be settled through the ACU will be handled by AD Category-I banks in the same manner as other normal foreign exchange transactions, through correspondent arrangements.

The DICGC while registering the banks as insured banks furnishes them with printed leaflets for display giving information relating to the protection afforded by the Corporation to the depositors of the insured banks. In case of doubt, depositor should make specific enquiry from the branch official in this regard.

Authorized dealers can release foreign exchange up to USD 25,000 for a business trip to any country other than Nepal and Bhutan. Release of foreign exchange exceeding USD 25,000 for a travel abroad (other than Nepal and Bhutan) for business purposes, irrespective of period of stay, requires prior permission from Reserve Bank. Visits in connection with attending of an international conference, seminar, specialised training, study tour, apprentice training, etc., are treated as business visits. Visit abroad for medical treatment and/or check up also falls within this category.

Ans: Indian Financial System Code (IFSC) is an alpha-numeric code that uniquely identifies a bank-branch participating in the NEFT system. It is a 11-digit code with the first 4 alpha characters representing the bank, and the last 6 characters representing the branch. The 5th character is 0 (zero). IFSC is used by the NEFT system to identify the originating / destination banks / branches and also to route the messages appropriately to the concerned banks / branches.

The applicant has to be a company registered under the Companies Act, 1956/ Companies Act 2013/ Registration of Companies (Sikkim) Act, 1961, having a minimum Net Owned Funds (NOF) of INR 25 lakh to apply for a single-branch FFMC licence and INR 50 lakh to apply for a multiple-branch FFMC licence.

Ans. A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India (other than Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000. A person may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes, in denomination not exceeding Rs.100. Any person resident outside India, not being a citizen of Pakistan and Bangladesh and also not a traveller coming from and going to Pakistan and Bangladesh, and visiting India may bring into India currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000 while entering only through an airport.

ECS Credit payments can be initiated by any institution (called ECS Credit User) which needs to make bulk or repetitive payments to a number of beneficiaries. The institutional User has to first register with an ECS Centre. The User has to also obtain the consent of beneficiaries (i.e., the recipients of salary, pension, dividend, interest etc.) and get their bank account particulars prior to participation in the ECS Credit scheme. ECS Credit payments can be put through by the ECS User only through his / her bank (known as the Sponsor bank). ECS Credits are afforded to the beneficiary account holders (known as destination account holders) through the beneficiary account holders’ bank (known as the destination bank). The beneficiary account holders are required to give mandates to the user institutions to enable them to afford credit to their bank accounts through the ECS Credit mechanism.

All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Scheme.