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Frequently Asked Questions (FAQ) relating to Reserve Bank’s Instructions on Banking matters
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].
Disclaimer - These FAQs are issued by the RBI for information and general guidance purposes only, which cannot be quoted in any legal proceeding and will have no legal purpose. It is not intended to be treated as legal advice or legal opinion. The Reserve Bank will not be held responsible for actions taken and/or decisions made on the basis of the same. For clarifications or interpretations, if any, readers are requested to be guided by the RB-IOS, 2021 and the relevant circulars/ notifications issued from time to time by the Reserve Bank and the Government.
1 Acceptance has to be furnished by the complainant within 30 days of receipt of communication of an Award
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:
- ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಗ್ರಾಹಕರ ರಕ್ಷಣೆ ಹಾಗೂ ಕುಂದುಕೊರತೆ ಪರಿಹಾರ ನೀತಿಯ ಮಾಹಿತಿಯನ್ನು ಸರಳ ಭಾಷೆಯಲ್ಲಿ ಪ್ರಸಾರ ಮಾಡುವುದು.
- ವೆಬ್ಸೈಟ್, ಮೊಬೈಲ್ ಆ್ಯಪ್ಗಳು, ಹಾಗೂ ಕಾರ್ಡ್ಗಳಲ್ಲಿ ಕುಂದು ಕೊರತೆ ಪರಿಹಾರಕ್ಕಾಗಿ ನೋಡಲ್ ಅಧಿಕಾರಿಗಳ ವಿವರಗಳನ್ನು ಒಳಗೊಂಡು, ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಕಸ್ಟಮರ್ ಕೇರ್ ಸಂಪರ್ಕ ವಿವರಗಳನ್ನು ಸ್ಪಷ್ಟವಾಗಿ ತೋರಿಸುವುದು.
- ಮೇಲಿನ [ಬಿ]ನಲ್ಲಿರುವಂತೆ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಏಜಂಟರು ಹಾಗೂ ಕಸ್ಟಮರ್ ಕೇರ್ ಸಂಪರ್ಕವಿವರಗಳಿಂದ ಸರಿಯಾದ ಸಂಕೇತವನ್ನು ಪ್ರದರ್ಶಿಸುವುದು.
- ಗ್ರಾಹಕರಿಂದ ದೂರಿನ ಸ್ಥಿತಿಯನ್ನು ಟ್ರ್ಯಾಕ್ ಮಾಡುವ ಸೌಲಭ್ಯದೊಂದಿಗೆ ಸಲ್ಲಿಸಲಾದ ದೂರುಗಳಿಗಾಗಿ ನಿರ್ದಿಷ್ಟ ದೂರಿನ ಸಂಖ್ಯೆಗಳನ್ನು ಒದಗಿಸುವುದು.
- ಯಾವುದೇ ಗ್ರಾಹಕರ ದೂರು/ಕುಂದುಕೊರತೆಗಳನ್ನು ತಕ್ಕಸಮಯದಲ್ಲಿ, ತ್ವರಿತವಾಗಿ 48 ಗಂಟೆಗಳೊಳಗೆ ಪರಿಹರಿಸಲು ಪ್ರಾರಂಭಿಸುವುದು ಹಾಗೂ ಅಂತಹ ದೂರು/ಕುಂದುಕೊರತೆಯನ್ನು ಪಡೆದ ದಿನಾಂಕದಿಂದ 30 ದಿನಗಳ ಒಳಗೆ ಪರಿಹರಿಸುವುದು.
- ಪಿಪಿಐ ನೀಡಿಕೆದಾರರ ಅಧಿಕೃತ /ಗೊತ್ತುಪಡಿಸಿದ ಏಜಂಟರ [ಹೆಸರು, ಏಜಂಟ್ ಐಡಿ,ವಿಳಾಸ,ಸಂಪರ್ಕ ವಿವರಗಳು, ಮುಂತಾದ] ವಿವರವಾದ ಪಟ್ಟಿಯನ್ನು ಪ್ರದರ್ಶಿಸುವುದು.
- 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.
ಭಾರತೀಯ ರಿಸರ್ವ್ ಬ್ಯಾಂಕ್ ಮೊಬೈಲ್ ಅಪ್ಲಿಕೇಶನ್ ಅನ್ನು ಇನ್ಸ್ಟಾಲ್ ಮಾಡಿ ಮತ್ತು ಇತ್ತೀಚಿನ ಸುದ್ದಿಗಳಿಗೆ ತ್ವರಿತ ಅಕ್ಸೆಸ್ ಪಡೆಯಿರಿ!
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