ಉತ್ತರ. ಪಿಪಿಐಗಳನ್ನು ನಗದಿನ ಮೂಲಕ, ಬ್ಯಾಂಕ್ ಖಾತೆಗೆ ಡೆಬಿಟ್ ಮಾಡುವ ಮೂಲಕ, ಕ್ರೆಡಿಟ್/ಡೆಬಿಟ್ ಕಾರ್ಡ್ಗಳ ಮೂಲಕ, ಅಥವಾ ಇತರ ಪಿಪಿಐಗಳಿಂದ ಲೋಡ್ ಮಾಡಬಹುದು/ಮರುರೋಡ್ ಮಾಡಬಹುದು. ಪಿಪಿಐಗಳ ಲೋಡಿಂಗ್/ಮರುಲೋಡಿಂಗ್ ಅನ್ನು ಭಾರತದಲ್ಲಿ ನಿಯಂತ್ರಿಸಲ್ಪಡುವ ಘಟಗಳು ನೀಡುವ ಪಾವತಿ ಉಪಕರಣಗಳ ಮೂಲಕ ಹಾಗೂ ಭಾರತದ ರೂಪಾಯಿಗಳಲ್ಲಿ [ಐಎನ್ಆರ್]ಮಾತ್ರ ಇರಬೇಕು. ಬ್ಯಾಂಕುಗಳು ಹಾಗೂ ಬ್ಯಾಂಕೇತರರು ಅಂತಹ ಪಾವತಿ ಉಪಕರಣಗಳನ್ನು ತಮ್ಮ ಅಧಿಕೃತ ಮಳಿಗೆಳು/ಶಾಖೆಗಳು/ಎಟಿಎಮ್ಗಳ ಮೂಲಕ ಅಥವಾ ಅವರ ಅಧಿಕೃತ/ಗೊತ್ತುಪಡಿಸಿದ ಏಜಂಟ್ಗಳ ಮೂಲಕ ನೀಡಲು ಹಾಗೂ ಮರುಲೋಡ್ ಮಾಡಲು ಅನುಮತಿ ನೀಡುತ್ತಾರೆ.

Ans: Yes. ECS can be used to transfer funds to NRE and NRO accounts in the country. This, however, is subject to the adherence to the provisions of the Foreign Exchange Management Act, 2000 (FEMA) and Wire Transfer Guidelines.

For the purpose of studies abroad, exchange for maintenance expenses is released in the form of (i) currency notes up to US$ 2,000, (ii) the balance foreign exchange may be taken in form of traveller’s cheques or bank draft payable overseas.

In terms of our circular RPCD.SME&NFS.BC.No.79/06.02.31/2009-10 dated May 6, 2010, banks are mandated not to accept collateral security in the case of loans upto ₹ 10 lakh extended to units in the MSE sector.

Ans : The submission of returns to the Reserve Bank will be as specified presently in the case of registered NBFCs.

PM will not be able to place orders on behalf of the client in the web based system. However the PM can continue placing orders for the client in the existing system. But these orders will not be subject to the various risk validations that are available in the Web system.

Banks are free to go ahead with a holistic plan by designing and implementing long-term solutions. However, the banks need to implement ADF for the returns committed under their roadmaps.  Further, the returns identified by Reserve Bank for immediate implementation in a time bound manner also need to be brought under ADF.

Ans While RBI has waived processing charges till March 31, 2008, levy of service charges by banks is left to the discretion of respective banks.

Yes. ECS can be used to transfer funds to NRE and NRO accounts in the country. This, however, is subject to the adherence to the provisions of the Foreign Exchange Management Act, 2000 (FEMA) and Wire Transfer Guidelines.

Ans. The following payments are not eligible to be settled through ACU:-

1. Payments between Nepal and India and Bhutan and India, exception being made in the case of goods imported from India by an importer resident in Nepal who has been permitted by the Nepal Rastra Bank to make payments in foreign exchange. Such payments may be settled outside ACU mechanism; and

2. Payments that are not on account of export / import transactions between ACU members countries except to the extent mutually agreed upon between the Reserve Bank and the other participants; and

3. All eligible current account transactions including trade transactions with Iran should be settled in any permitted currency outside the ACU mechanism until further notice.

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

Ans: The NEFT system is available round the clock throughout the year on all days, i.e., on 24x7x365 basis. NEFT presently operates in batches on half-hourly intervals throughout the day. In case of non-availability of NEFT for any reason, appropriate message will be broadcasted by RBI to all system participants.

An authorisation granted under Section 10(1) of FEMA 1999 may be revoked by the Reserve Bank at any time if the Reserve Bank is satisfied that -

1. it is in public interest so to do; or

2. the authorised person has failed to comply with the condition subject to which the authorisation was granted or has contravened any of the provisions of the Act or any rule, regulation, notification, direction or order made thereunder

Reserve Bank also reserves the right to revoke the authorisation of any of the offices of the authorised person for infringement of any statutory or regulatory provision. The Reserve Bank may at any time vary or revoke any of the existing conditions of an authorisation/licence or impose new conditions.

Ans. The Foreign Contribution Regulation Act, 1976 is administered and monitored by the Ministry of Home Affairs whose address is given below:

Ministry of Home Affairs, FCRA Wing, 1st Floor, Major Dhyan Chand National Stadium, Near Pragati Maidan, New Delhi-110001

No specific approval from the Reserve Bank is required in this regard

Banks should exercise care while affixing stamps on the cheque forms, so that it does not interfere with the material portions such as date, payee’s name, amount, and signature. The use of rubber stamps, etc., should not overshadow the clear appearance of these basic features in image. It is necessary to ensure that all essential elements of a cheque are captured in an image during the scanning process and banks / customers have to exercise appropriate care in this regard.

Banks are also required to verify the security features additional to CTS-2010 standard that have been voluntarily implemented

Yes. The complainant can be filed by one s authorized representative (other than an advocate).

An investor can make only a single bid through any bank or PD under this scheme in each specified auction.

No. Children (including minor) are not eligible for additional interest admissible to bank's staff member/retired staff member.

A. Funding for overseas investment could be made by one or more of the following sources:the balances held in Exchange Earners Foreign Currency account of the Indian party maintained with an authorised dealer,proceeds of ADR/GDR issues,market purchases of foreign exchange,share swap (refers to the acquisition of the shares of an overseas entity by way of exchange of the shares of the Indian entity).Capitalisation of exports, royalties, etc.

• A non-competitive scheme has been devised for participation of such investors in the auction. Under this scheme, investors are required to indicate the amount of their bids and not the price at which they want to subscribe. Allocation to such investors is made at the weighted average price emerged in the competitive bidding.

• Presently in auction, up to 5 per cent of the notified amount is reserved for non-competitive bidding, while up to 20 per cent of the notified amount will be earmarked for such bidding in case of IIBs to encourage retail participation.

• The retail investors will be able to participate in non-competitive bidding through primary dealers (PD) and banks. They can open a gilt account with PDs and banks or demat account for such participation.

• Investor does not need to open a BLA with any bank for making investment.

• After receiving the money and registration of the investor on RBI’s CBS (E-Kuber), the RBI will open a BLA for each investor and issue a “Certificate of Holding” indicating number of units of IINSS-C held by the investor.

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.

Response: Usage of a credit card beyond the sanctioned credit limit (i.e., overlimit) requires prior explicit consent of the cardholder, as a fraud minimisation mechanism. Further, a cardholder shall be given an option to enable or disable the option of overlimit through transaction control mechanism available on card-issuer’s platforms such as internet, mobile banking, or any other suitable medium. Unless explicit consent has been obtained from the cardholder for the overlimit facility, no overlimit can either be provided or overlimit charges be levied.

The requirement is that the companies in the Promoter Group in which the public hold not less than 51 per cent of the voting equity shares shall hold not less than 51 per cent of the total voting equity shares of the NOFHC.[ para 2 (C) (ii) (b) of the guidelines] A company in which public holds 51 per cent need not necessarily be listed. For the purpose of these guidelines, ‘public shareholding’ implies that no person along with his relatives (as defined in Section 6 of the Companies Act, 1956) and entities in which he and / or his relatives hold not less than 50 per cent of the voting equity shares, by virtue of his shareholding or otherwise, exercises ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) over the company.

The Bonds are issued in denominations of one gram of gold and in multiples thereof. Minimum investment in the Bond shall be one gram with a maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April – March). In case of joint holding, the limit applies to the first applicant. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the secondary market. The ceiling on investment will not include the holdings as collateral by banks and other Financial Institutions

Ans. No. The rationale is that remittance facility for current account transactions under Schedule III of FEM (CAT) Amendment Rules, 2015, such as private and business visits, up to the LRS limit of USD 250, 000 can also be provided by FFMCs. As FFMCs cannot maintain accounts of remitters, the proviso (as mentioned in para 5.4 of the circular ibid) has been confined to capital account transactions. However, FFMCs, are required to ensure that the "Know Your Customer" guidelines and the Anti-Money Laundering Rules in force have been complied with while allowing the current account transactions.

Ans: RBI has been taking various steps to ensure that the card payment environment is safe and secure. RBI has mandated issuers to send alerts for all card transactions so that a card holder is aware of transactions taking place on her / his card. In order to benefit from it, the cardholders are advised to register for SMS / e-mail alerts.

CSGL, i.e. Constituents' Subsidiary General Ledger account, means an SGL account opened and maintained with RBI by an agent on behalf of the constituents of such agent, i.e. a second SGL account opened by an agent with the RBI to hold the securities on behalf of their constituents. The constituents are known as the Gilt Account Holders (GAHs). Additional CSGL and / or Gilt Account can be opened only with the prior / specific permission of the Bank.

Ans: While the lead lender as per the consortium agreement may initiate SARFAESI proceedings, the circular requires all consortium members to individually display on their website the details of assets taken into possession, including outstanding amount and other details as per the pari-passu charge and consortium agreement ensuring transparency.

Ans.: If the MF company/AMCs does not have foreign liability or assets during the reference period, then that company is required to submit NIL survey schedule of MF survey as well as FLA form on FLAIR portal.

Answer: "Current account transaction" means a transaction other than a capital account transaction. For example:

1. Payments due in connection with foreign trade, other current business, services, and short-term banking and credit facilities in the ordinary course of business;

2. Payments due as interest on loans and as net income from investments, remittances for living expenses of parents, spouse and children residing abroad; and

3. Expenses in connection with foreign travel, education and medical care of parents, spouse and children.

Please refer to the Foreign Exchange Management (Current Account Transactions) Rules, 2000 for permitted current account transactions.