The aggregator or facilitator can recover up to six paise per Rs.100 as commission for rendering this service to their clients. They can build this cost into the sale price or it can be recovered separately from the clients. The aggregator or facilitator is not permitted to build any other cost, such as funding cost, into the price.

Ans : The following are the entry point norms for IDF-NBFC :

• Minimum Net Owned Funds (NOF) of Rs. 300 crore;

• Capital to Risk Weighted Assets (CRAR) of 15%;

• Net NPAs less than 3% of net advances;

• It should have been in existence for at least 5 years before application:

• It should have been profitable in the last three years;

• its performance should be satisfactory and free from supervisory concerns;

• It shall have at the minimum, a credit rating grade of 'A' of CRISIL or equivalent rating issued by other accredited rating agencies such as FITCH, CARE, BRICKWORK and ICRA.

Ans. Yes, under advice to Reserve Bank, FED, CO Cell, Sansad Marg, New Delhi 110 001.

No, there is no restriction on withdrawal in Rupees of funds held in an EEFC account. However, the amount withdrawn in Rupees shall not be eligible for conversion into foreign currency and for re-credit to the account.

No. The collecting banks credit the customer’s account only after expiry of the cooling period as such funds are subject to recall under US laws. Some banks may permit selective withdrawal of funds before the cooling period lapses depending on the customer’s credit worthiness, relationship with the bank, KYC compliance, value of the cheque, etc. It is a commercial decision of the bank. Banks have been advised to formulate their policy on instant credit for small value cheques as part of the USD Cheque Collection Policy.

Ans. In terms of Section 4 of the PSS Act, 2007 no person other than the Reserve Bank can operate or commence a payment system unless authorized by the Reserve Bank. Any person desirous of commencing or operating a payment system needs to apply for authorization under the PSS Act, 2007(Section 5).

The application for authorization has to be made as per Form A under Regulation 3(2) of the Payment and Settlement Systems Regulations, 2008. The application is required to be duly filled up and submitted with the stipulated documents to the Reserve Bank.

All entities operating payment systems or desirous of setting up such systems are required to apply for authorization under the Act. The application for authorisation can be downloaded from the following link. Any unauthorized operation of a payment system would be an offence under the PSS Act, 2007 and accordingly liable for penal action under that Act.

On deposit, an acknowledgement receipt mentioning name of declarant and amount deposited will be duly authorized and provided by the bank from which application was made. Subsequently a Certificate of Holding for the BLA will be issued which may be collected from the Authorized Banks through which the deposit was made.

Response

No, the BSBDA customer cannot have any other savings bank account in the same bank. If 'Basic Savings Bank Deposit Account’ is opened on the basis of simplified KYC norms, the account would additionally be treated as a 'Small Account' and would be subject to conditions stipulated for such accounts as indicated in our circulars RPCD.CO.RCB.AML.BC.No.63/07.40.00/2010-11 dated April 26, 2011 and RPCD.CO.RRB.AML.BC.No.15/03.05.33(E)/2011-12 dated August 8, 2011 on 'Opening of Small Account.'

The limits imposed on cash withdrawals from accounts/bank branches/ ATMs in the wake of demonetisation stand completely withdrawn and status quo ante has been restored

No. The NBFC Ombudsman does not charge any fee for filing and resolving customers’ complaints.

No.

Ans. No. For any shortfall / default in completing the payment / settlement obligations, such entities will need to have a pre-approved line of credit facility from a bank. They will also have to ensure that appropriate liquidity support arrangements are in place with their bankers to avoid gridlock and to ensure business continuity. Any such shortfall / default in availability of funds by the PSP can entail appropriate regulatory action from the Reserve Bank, including review of CPS membership.

Ans. This clause is applicable only for recovery from borrowers having overdue loans. For other borrowers, REs can continue with the existing timing/ process for business like group meetings, collection in regular accounts, etc. as per borrowers’ convenience.

Ans. No. The transactions processed under TReDS are “without recourse” to the MSMEs.

No. There is no charge or any fee for filing / resolving customers’ complaints.

Ans. The LEI instructions are applicable to all the channels being used for connecting to RTGS viz. thick-client, Web-API (through INFINET or any other approved network) and Payment Originator (PO) module.

Ans. For a funds transfer to go through RTGS, both the sending bank branch and the receiving bank branch need to be RTGS enabled. Presently, there are more than 1,60,000 RTGS enabled bank branches, the list of which is available on the RBI website at the link https://rbi.org.in/Scripts/Bs_viewRTGS.aspx?Category=5. The list is updated on a fortnightly basis.

The various additional provisions prescribed under the Resolution Framework are specific provisions to be maintained in respect of each exposure under consideration.

ಇಲ್ಲ. ಬಿಎಸ್ಬಿಡಿಎ ಗ್ರಾಹಕರು ಅದೇ ಬ್ಯಾಂಕಿನಲ್ಲಿ ಮತ್ತೊಂದು ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಖಾತೆ ಹೊಂದುವಂತಿಲ್ಲ. ಒಂದೊಮ್ಮೆ 'ಬೇಸಿಕ್ ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಡಿಪೋಸಿಟ್ ಅಕೌಂಟ್ ’ನ್ನು ಸರಳೀಕೃತ ಕೆವೈಸಿ ಆಧಾರದ ಮೇಲೆ ತೆರೆದರೆ ಅದನ್ನು 'ಸ್ಮಾಲ್ ಆಕೌಂಟ್' ಎಂದು ಪರಿಗಣಿಸಲಾಗುವುದು ಮತ್ತು ಅಂತಹ ಖಾತೆಗಳಿಗೆ ನಿಗದಿಸಿದ' ಕೆವೈಸಿ ನಿಯಮಗಳು / ಎಎಮ್ಎಲ್ ಸ್ಟ್ಯಾಂಡರ್ಡ್ಸ್/ಕಂಬ್ಯಾಟಿಂಗ್ ಆಫ್ ಫೈನಾನ್ಸಿಯಲ್ ಟೆರ್ರರಿಸಮ್[ಸಿಎಫ್ಟಿ]/ಒಬ್ಲಿಗೇಶನ್ಸ್ ಆಫ್ ಬ್ಯಾಂಕ್ಸ್ ಅಂಡರ್ ಪಿಎಮ್ಎಲ್ಎ, 2002 'Master Circular DBOD.AML.BC.No. 11/14.01.001/2012-13, ದಿನಾಂಕ ಜುಲೈ 2, 2012, ಪ್ಯಾರಾ 2,7ರಲ್ಲಿ ಸೂಚಿಸಿದ ಷರತ್ತುಗಳಿಗೊಳಪಟ್ಟಿರುತ್ತದೆ.