ಹೌದು. ನಿಗದಿಸಲ್ಪಟ್ಟ ಕನಿಷ್ಠ ಸೇವೆಗಳಲ್ಲದೆ ಹೆಚ್ಚಿನ ಸೇವೆಗಳನ್ನು ನೀಡುವುದನ್ನು ಬ್ಯಾಂಕುಗಳ ವಿವೇಚನೆಗೆ ಬಿಡಲಾಗಿದೆ ಅವರು ಹೆಚ್ಚಿನ ಸೇವೆಗಳನ್ನು ಉಚಿತವಾಗಿ ನೀಡಬಹುದು ಅಥವಾ ಹೆಚ್ಚಿನ ಮೌಲ್ಯವರ್ಧಿತ ಸೇವೆಗಳಿಗೆ ವಿಧಿಸುವ ಶುಲ್ಕದ ಬಗ್ಗೆ ಅವಶ್ಯಕತೆಗಳನ್ನು ನಿರ್ಮಿಸಿ, ಸಮಂಜಸವಾದ, ಪಾರದರ್ಶಕವಾದ ಮತ್ತು ತಾರತಮ್ಯವಲ್ಲದ ರೀತಿಯಲ್ಲಿ, ಗ್ರಾಹಕರಿಗೆ ಮುನ್ಸೂಚನೆ ಕೊಟ್ಟು, ನೀಡಬಹುದು. ಮೌಲ್ಯವರ್ಧಿತ ಸೇವೆಗಳಿಗೆ ವಿಧಿಸುವ ಶುಲ್ಕದ ವಿಷಯವಾಗಿ ಸಮಂಜಸವಾದ ಶುಲ್ಕಪಟ್ಟಿಯನ್ನು ಅಥವಾ ಕನಿಷ್ಠ ಬ್ಯಾಲೆನ್ಸ್ ಅವಶ್ಯಕತೆಯನ್ನು ರಚಿಸಿ, ಅದನ್ನು ಸರಿಯಾಗಿ ಕಾಣುವಂತೆ ಪ್ರದರ್ಶಿಸಬೇಕು ಮತ್ತು ಖಾತೆ ತೆರೆಯುವಾಗ ಗ್ರಾಹಕರಿಗೆ ತಿಳಿಸಬೇಕು. ನೀಡುವ ಅಂತಹ ಕೊಡುಗೆಗಳು 'ಬೇಸಿಕ್ ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಡಿಪೋಸಿಟ್ ಅಕೌಂಟ್' ಗ್ರಾಹಕರಿಗೆ ತಾರತಮ್ಯರಹಿತ ಹಾಗೂ ವಿವೇಚನಾಯುಕ್ತವಾಗಿದ್ದು, ಪಾರದರ್ಶಕತೆಯಿಂದ ಕೂಡಿರಬೇಕು. ಆದಾಗ್ಯೂ ಅಂತಹ ಹೆಚ್ಚಿನ ಸೌಲಭ್ಯಗಳನ್ನು ಹೊಂದಿರುವ ಖಾತೆಗಳನ್ನು ಬಿಎಸ್ಬಿಡಿಎಗಳೆಂದು ಪರಿಗಣಿಸಲಾಗದು.

Ans : User institutions enjoy many advantages as well. For instance,

• Savings on administrative machinery and costs of printing, dispatch and reconciliation of paper instruments that would have been used had beneficiaries not opted for ECS Credit.

• Avoid chances of loss / theft of instruments in transit, likelihood of fraudulent encashment of paper instruments, etc. and subsequent correspondence / litigation.

• Efficient payment mode ensuring that the beneficiaries get credit on a designated date.

• Cost effective.

Residents are permitted to hold foreign currency up to US$2,000 or its equivalent provided the foreign exchange was -

1. acquired by him while on a visit to any place outside India by way of payment for services not arising from any business in or anything done in India;

or

2. acquired by him, from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation,

or

3. acquired by him by way of honorarium or gift while on a visit to any place outside India;

or

4. acquired by him from an authorised person for travel abroad and represents the unspent amount thereof.

Once the GAH is granted access to the NDS-OM Web Module, the Primary Member can create Users under the GAH, who can log into the system. The users once created by the Primary Member have to be approved by the NDS-OM Web Admin at CCIL.

Ans. Financial Market Infrastructure (FMI) is defined as a multilateral system among participating institutions, including the operator of the system, used for the purposes of clearing, settling, or recording payments, securities, derivatives, or other financial transactions. (Please see “Oversight Framework for Financial Market Infrastructures and Retail Payment Systems”, available under the link: /en/web/rbi/-/oversight-framework-for-financial-market-infrastructures-fmis-and-retail-payment-systems-rpss-3864). The term FMI generally refers to systemically important payment systems, Central Securities Depositories (CSDs), Securities Settlement Systems (SSSs), Central Counter Parties (CCPs), and Trade Repositories (TRs) that facilitate the clearing, settlement, and recording of financial transactions. CSDs, SSSs, CCPs are designated as “payment systems” under the PSS Act. TR has been defined and covered under the PSS Act.

The FMIs are subjected, on an on-going basis, to the rules and regulations that are consistent with the Principles for Financial Market Infrastructures (PFMIs) issued by the Committee on Payment and Settlement Systems (CPSS is rechristened as Committee on Payment and Market Infrastructures- CPMI) and International Organisation of Securities Commissions (IOSCO). The Reserve Bank, on June 13, 2020, issued a press release on “Reserve Bank of India publishes the Oversight Framework for Financial Market Infrastructures and Retail Payment Systems”, available under the link: /en/web/rbi/-/press-releases/reserve-bank-of-india-publishes-the-oversight-framework-for-financial-market-infrastructures-and-retail-payment-systems-49947

Yes. The Roadmap to be prepared as per the recommendations of the Approach Paper would enable the banks to set milestones for achieving ADF which in turn would also help in monitoring from time to time the progress made in implementation.

Ans: The funds availed under TLTRO 2.0 are to be deployed in investment grade bonds, commercial paper (CPs) and non-convertible debentures (NCDs) of Non-Banking Financial Companies (NBFCs) and MFIs in the manner outlined in the press release dated April 17, 2020.

FAQs pertaining to On Tap TLTRO/ reversal of TLTRO/ TLTRO 2.0 transactions

User institutions enjoy many advantages as well. For instance, Savings on administrative machinery and costs of printing, dispatch and reconciliation of paper instruments that would have been used had beneficiaries not opted for ECS Credit. Avoid chances of loss / theft of instruments in transit, likelihood of fraudulent encashment of paper instruments, etc. and subsequent correspondence / litigation. Efficient payment mode ensuring that the beneficiaries get credit on a designated date. Cost effective.

Foreign exchange for travel abroad can be purchased from banks against rupee payment in cash up to Rs.50,000/-. However, if the rupee equivalent exceeds Rs.50,000/-, the entire payment should be made by way of a crossed cheque/banker’s cheque/pay order/demand draft only.

Ans: No. NEFT is a credit-push system i.e., transactions can be originated by the payer / remitter / sender only to pay / transfer / remit funds to beneficiary.

An AD Category – I Bank / AD Category - II/ FFMC should apply to the respective Regional Office of the Reserve Bank, in Form RMC-F (as given in Part I: Annex-II of the FED Master Direction No.18/2015-16 on Reporting under FEMA 1999) for appointment of franchisees under this Scheme. The application should be accompanied by a declaration that while selecting the franchisees, adequate due diligence has been carried out and that such entities have undertaken to comply with all the provisions of the franchising agreement and prevailing Reserve Bank regulations regarding money changing. Approval would be granted by the Reserve Bank for the first franchisee arrangement. Thereafter, as and when new franchisee agreements are entered into, these would have to be reported to the Reserve Bank in Form RMC-F on a post-facto basis along with similar declaration as indicated above.

RBI will issue securities only in SGL form. It will credit the securities to the CSGL account of the aggregator or facilitator. They will in turn credit the securities to the gilt account or dematerialized account of the investors.

Name and address of the complainant, the name and address of the branch or office of the bank against which the complaint is made, facts giving rise to the complaint supported by documents, if any, the nature and extent of the loss caused to the complainant, the relief sought from the Banking Ombudsman and a declaration about the compliance with conditions which are required to be complied with by the complainant under Clause 9(3) of the Banking Ombudsman Scheme.

The Government of India notifies the auction of government securities. It also notifies the amount and whether it will be a new loan or reissue of an existing loan. It also announces whether the bidders have to bid for the price or the coupon(interest rate).The competitive bidders put in competitive bids for the price or the coupon. The cutoff price or the coupon is then announced by RBI on the basis of the bids received. All successful bidders will be allotted the security auctioned either in full or in part.Example:Recently, an auction was held for government of India's 11 year Government Stock in which the notified amount was Rs.5,000 crore. The coupon rate for cut-off yield was 9.40 per cent. The weighted average yield was, however, 9.36 per cent since allotments were made to different successful bidders at the rates quoted by them at or below the cut off rates (i.e. multiple price auction system).

In case of a term deposit standing in the name of a deceased depositor, interest will be paid in the following manner.i) If the payment of deposit is claimed before the maturity, the interest is payable at the rate prevalent on the date on which the deposit was placed with the bank and as applicable to the period for which the deposit remained with the bank, without charging any penalty.ii) In the event of death of the depositor before the date of maturity and the payment of deposit is claimed after the date of maturity, the interest is payable at the contracted rate upto the date of maturity. From the date of maturity till the date of payment of the deposit, the bank shall pay interest at simple rate of interest prevalent on the date of maturity as applicable to the period for which the deposit remained with the bank from the date of maturity of the deposit till its payment.iii) In the case of death of the depositor after the date of maturity of the deposit the bank shall pay interest at savings deposit rate operative on the date of maturity from the date of maturity till the date of payment.

The criteria for investment under the automatic route are as under:The total financial commitment of the Indian party in Joint Ventures/Wholly Owned Subsidiaries in any country other than Nepal, Bhutan and Pakistan is up to US$ 100 million or its equivalent in any one financial year or 100% of the net worth whichever is lower, and the investment is in a lawful activity permitted by a host country. The financial commitment in respect of Joint Ventures/Wholly Owned Subsidiaries in Myanmar and SAARC countries (other than Nepal, Bhutan and Pakistan) is up to US$ 150 million or its equivalent in any one financial year. (Please also see answer to Question No. 20).The Indian party is not on the Reserve Bank caution/defaulters list or under investigation by the Enforcement DirectorateThe Indian party routes all the transactions relating to the investment in a Joint Venture/Wholly Owned Subsidiary through only one branch of an authorised dealer to be designated by it.In respect of investments in non-core activities (refer Ques.15) the investing company has a proven track record.

Ans : Yes. The maximum exposure that an IDF-NBFC can take on individual projects will be

1. at 50 percent of its total Capital Funds (Tier I plus Tier II) and not to Owned Funds as in the case of NBFCs.

2. An additional exposure up to 10 percent could be taken at the discretion of the Board of the IDF-NBFC.

3. In addition, if the financial position of the IDF-NBFC is satisfactory RBI may, on being satisfied and upon receipt of an application from an IDF-NBFC, permit additional exposure up to 15 percent (over 60 percent) subject to such conditions as it may deem fit to impose regarding additional prudential safeguards.

• IIBs would be a G-Sec and therefore, would be eligible for short-sale and repo transactions.

No. In the event of a bank's liquidation, the liquidator prepares depositor wise claim list and sends it to the DICGC for scrutiny and payment. The DICGC pays the money to the liquidator who is liable to pay to the depositors. In the case of amalgamation / merger of banks, the amount due to each depositor is paid to the transferee bank.

Ans. Residents may book their tickets in India for their visit to any third country. For instance, residents can book their tickets for travel from London to New York, through domestic/foreign airlines in India. However, the same (air tickets) would be a part of the traveller’s overall LRS entitlement of USD 250,000.