Ans: Sale from HTM on account of buy-back by the issuers pertaining to specified securities acquired under TLTRO scheme is exempt from the disclosure threshold stipulated in para 2 of RBI Master Circular DBR.No.BP.BC.6/21.04.141/2015-16 dated July 1, 2015.

FAQs pertaining to TLTRO 2.0

Ans: The outbound remittances through NEFT system are permitted only to Nepal under Indo-Nepal Remittance Facility (INRF) Scheme. Under this Scheme, the remitter can transfer funds from any of the NEFT-enabled bank branches in India to Nepal, irrespective of whether the beneficiary in Nepal maintains an account with a bank branch in Nepal or not. The beneficiary would receive funds in Nepalese Rupees. The details of the INRF Scheme are available on the website of RBI at /en/web/rbi/faq-page-2?ddm__keyword__26256231__FaqDetailPage2Title_en_US=Indo-Nepal Remittance Facility scheme.

Ans Each participating bank has to identify a branch at the respective centre to act as the link point for transmitting all outward messages and receiving all inward messages. The Service Branches/Main Branches of banks who have been coordinating the cheque-clearing work are in the best position to discharge this role. So no additional organisational infrastructure is required to be created.

Yes. In case the information / account particulars contained in the mandate undergo any change, the beneficiary has to notify the changes to the User Institution so that the correct information can be incorporated in its records. This will ensure that transactions do not get rejected at the beneficiary’s bank branch due to inconsistencies/ mismatch in the data sent by the user institution.

Your funds from each bank would be insured separately, regardless of the date of closure.

Person going abroad on emigration can draw foreign exchange upto USD100,000 on self- declaration basis from an authorized dealer in India. This amount is only to meet the incidental expenses in the country of emigration. No amount of foreign exchange can be remitted outside India to become eligible or for earning points or credits for immigration. All such remittances require prior permission of the Reserve Bank.

An application from an FFMC/non-bank AD Category-II for renewal of licence shall be made two months before expiry of the licence or such other period as the Reserve Bank may prescribe. Where an application for licence renewal is submitted as above, the licence shall continue in force until the date on which the licence is renewed or the application is rejected, as the case may be. No application from an FFMC/non-bank AD Category-II for renewal of licence shall be made after expiry of the licence.

Ans. Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development (Department of Education and Culture), Government of India, New Delhi.

Positive Pay System (PPS) for CTS is an additional indicator provided by NPCI to all banks to facilitate the clearing process and pre-empt cheque-related frauds and shall form part of prudent practices followed by banks for payment processing. It has been introduced to augment customer safety in cheque payments and reduce instances of fraud occurring on account of tampering of cheque leaves.

Banks have been advised to enable PPS facility for all account holders issuing cheques for amount of ₹ 50,000 and above. While availing of this facility is at the discretion of the account holder, banks may consider making it mandatory in case of cheques for amounts of ₹ 5,00,000 and above.

One may lodge his/ her complaint at the office of the Banking Ombudsman under whose jurisdiction, the bank branch complained against is situated.

For complaints relating to credit cards and other types of services with centralized operations, complaints may be filed before the Banking Ombudsman within whose territorial jurisdiction the billing address of the customer is located. (Click here for address and area of operation of the Banking Ombudsman)

The minimum amount for bidding will be Rs.10,000 (face value) and in multiples in Rs.10,000.

Banks should pay interest at the originally contracted rate on the deposit amount for the holiday/Sunday/Non-business working day intervening between the date of expiry of the specified term of the deposit and the date of payment of the proceeds of the deposits on the succeeding working day.

No. General permission has been given to authorised dealers to allow such collectivised remittances, on a periodic basis.

Travellers are allowed to purchase foreign currency notes/coins only up to US$ 2000. Balance amount can be taken in the form of traveller’s cheque or banker’s draft. Exceptions to this are (a) travellers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes and coins not exceeding US$ 5000 or its equivalent; (b) travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States can draw entire foreign exchange released in form of foreign currency notes or coins.

• Extant tax provisions will be applicable on interest payment and capital gains on IIBs.

• There will be no special tax treatment for these bonds.

• These securities will be issued in the form of Bonds Ledger Account (BLA).

• The securities in the form of BLA will be issued and held with RBI and thus, RBI will act as central depository.

• A certificate of holding will be issued to the holder of securities in BLA.

Ans. No. The acquirer banks (other than local area banks) may, based on the approval of their Board, provide cash withdrawal facility at PoS terminals. The local area banks shall require the approval of RBI for providing this facility.

Only an Indian Company engaged in financial sector activities can make investment in the financial services sector provided it fulfills the following norms besides complying with the parameters indicated at Answers to the Question Nos. 14 and 28.has earned net profit during the preceding three financial years from the financial services activities;is registered with the appropriate regulatory authority in India for conducting financial services activities;has a minimum net worth of Rs.15 crores as on the date of the last audited balance sheet; andhas fulfilled the prudential norms relating to capital adequacy as prescribed by the concerned regulatory authority in India.

The non-competitive bidder will make payment to the aggregator or facilitator through which he has put the bid and receive his securities from them.

Ans. RTGS system enables participants to initiate and receive payments for inter-bank / non-bank / customer transactions. NEFT system allows members to send and receive transactions of retail nature electronically. Membership to NEFT is, however, relevant to non-bank PPI issuers only.

RTGS system also enables eligible members to post MNSB transactions, do Own Account Transfers (OAT) between current account and settlement account in RTGS. In the context of Q.7 above, MNSB transactions are relevant for Card Networks only.