Ans: The amount under default shall act as the ceiling on which the penal charges can be levied.

Ans. The compounding amount as specified in the compounding order shall be paid by way of demand draft in favour of the “Reserve Bank of India” or National Electronic Fund Transfer (NEFT), or Real Time Gross Settlement (RTGS), or such other permissible electronic or online modes of payment within 15 days from the date of the order of compounding of such contravention. The manner in which the demand draft has to be drawn and deposited/ details of bank account for transferring through electronic mode of payment shall be indicated in the compounding order.

Ans. In terms of paragraph 22 of these Directions, interest will be paid as per following:

1. If the period from the date of maturity till the date of renewal (both days inclusive) does not exceed 14 days, the rate of interest payable on the amount of the deposit so renewed shall be the appropriate rate of interest for the period of renewal as prevailing on the date of maturity or on the date when the depositor seeks renewal, whichever is lower.

2.  In all other cases of renewal, interest rates for the overdue period on the renewed amount shall be determined by treating it as a fresh term deposit.

3. If, after renewal, the deposit is withdrawn before completion of the minimum stipulated period under the scheme, banks authorized under FEMA, 1999 may, at their discretion, recover the interest paid for the overdue period i.e., period beyond the original date of maturity.

Certain types of complaints which are classified as non-maintainable complaints due to various reasons as indicated below are not covered under RB-IOS, 2021:

1. Complaints which are filed directly with the Ombudsman without first being taken up with the RE concerned, in writing.

2. Complaints which have been lodged with the RE, but a period of 30 days has not elapsed from such date of lodgment of the complaint with the RE, except for complaints for which the complainant has received a reply from the RE, and is not satisfied with the reply.

3. Complaint made after one year from the date of receipt of the reply of the RE or, where no reply is received, later than one year and 30 days after the date of the representation to the RE;

4. Complaints which have been already dealt with by Ombudsman/ CEPC or those under process/pending on the same cause of action and for similar relief (whether received from the same complainant or along with one or more complainants) with the RBIO;

5. Complaints related to the commercial decision of the RE. For example: grant of a loan;

6. Complaints related to any dispute between a vendor and a RE;

7. Complaints addressed to other authorities and not directly addressed to Ombudsman;

8. Complaints raising general grievances against the management or executives of RE;

9. Complaints pertaining to a dispute in which action initiated by a RE is in compliance of the orders of a statutory or law enforcing authority;

10. Complaints in which the alleged deficiency in the service relates to an entity not regulated by RBI;

11. Complaints related to the disputes between REs;

12. Complaints related to any dispute involving employee-employer relationship of RE;

13. Complaints pending before any Court, Tribunal or Arbitrator or any other forum or authority; or, settled or dealt with on merits, by any Court, Tribunal or Arbitrator or any other forum or authority, whether or not received from the same complainant or along with one or more of the complainants/parties concerned;

14. Complaints that are abusive or frivolous or vexatious in nature;

15. Complaints made after the expiry of the period of limitation prescribed under the Limitation Act, 1963, for such claims;

16. Complaints with incomplete details and those that are not specific/actionable in nature;

17. Complaints lodged through an advocate (except where the advocate himself is the aggrieved person);

18. Complaint in the nature of offering suggestions or seeking guidance or explanation.

Ans.: Please refer to the below table containing the error codes (Fatal error, non-Fatal error) with their descriptions. If a respondent gets an acknowledgment of the processed data with any Fatal error codes, then it should study the below-mentioned fatal error message/description and revise its data accordingly. The revised data may be resubmitted on mf@rbi.org.in. In case if the company gets an acknowledgment of the processed data with any non-fatal error codes, then it needs to provide justification/clarification on the errors mentioned, by email to mfquery@rbi.org.in along with revised data, if applicable to mf@rbi.org.in.

Sl No.	Mutual Fund Error Codes and Description
	Criteria	Error Codes	Description
	Fatal Errors
1	If Mutual Fund Company name given at item 1.(i) of block-I of Section I is NULL	MF_F_003	Name of the Mutual Fund Company is not given. Please provide the name of the mutual fund company in the Section I.
2	If Asset Management Company name given at item 1.(iii) of block-I of Section I is NULL	MF_F_004	Name of the Asset Management Company (AMC) is not given. Please provide the name of the AMC in the Section I.
3	If CIN number of Mutual Fund Company is blank or length of CIN is less than 21 characters	MF_F_006	Invalid CIN number is given in Section I. Please ensure that correct 21-digit CIN of Asset Management company as provided by the Ministry of Corporate Affairs is entered.
4	If Name of the contact person given at item 2 (i) of block-I of Section I is NULL	MF_F_007	Name of the contact person is not provided. Please provide the name of the contact person in the Section I.
5	If Email ID for contact given at item 2 (v) of block-I of Section I is NULL	MF_F_008	Contact person's e-mail is not provided. Please provide the e-mail ID of the contact person in Section I.
	Non-Fatal Errors
6	In case of change in company name, if old company name is not given	MF_NF_001	Old company name is not given. Please provide the old company name in the Section I.
7	In case of change in company name, if new company name is not given	MF_NF_002	New company name is not given. Please provide the new company name in the Section I.
8	In case of change in company name, if Effective date of change is not given	MF_NF_003	Effective date of change in name of the mutual fund company is not given. Please provide the effective date of change in company name in the Section I.
9	If the Face Value deviation is larger than 10% in Block1 UNITS ISSUED TO AND OUTSTANDING IN THE NAME OF NON-RESIDENTS            (deviation=(currentYearFaceValueTotal-previousYear Face  ValueTotal)*100/(previousYearFaceValueTotal))	MF_NF_004	Block-1: The total face value of units held by non-resident for the previous year (end March 2024) as reported in the current survey year (2024-25 round) is inconsistent with the current year reporting (end March 2025) in previous survey year (2023-24 round).
10	If the Market Value deviation is larger than 10% in Block1 UNITS ISSUED TO AND OUTSTANDING IN THE NAME OF NON-RESIDENTS	MF_NF_005	Block-1: The total market value of units held by non-resident for the previous year (end March 2024) reported in the current survey year (2024-25 round) is inconsistent with the current year reporting (end March 2024) in previous survey year (2023-24).
11	If both previous year and current year Face values > 1000 (Rs in Lakhs) and deviation is larger than 50% in Block1 UNITS ISSUED TO AND OUTSTANDING IN THE NAME OF NON-RESIDENTS	MF_NF_006	Block-1: There is a high deviation in Face Value of Unit held by non-resident from previous year to current year.
12	If both previous year and current year Market values > 1000 (Rs in Lakhs) and deviation is larger than 50% in Block1 UNITS ISSUED TO AND OUTSTANDING IN THE NAME OF NON-RESIDENTS	MF_NF_007	Block-1: There is a high deviation in Market Value of Unit held by non-resident from previous year to current year.
13	If sum of the data for XX (no specific country) and IN (INDIA) is larger than 50,000 ₹ lakh and the proportion of the same from the total is more than 50% for the current Survey year in Block1 UNITS ISSUED TO AND OUTSTANDING IN THE NAME OF NON-RESIDENTS for Face Value (Column 6)	MF_NF_008	Block-1: " NO Specific Country & India " has been selected instead of Foreign Country Name for face value of units held by non-resident.
14	If the foreign liabilities deviation is larger than 10% in Block2 OTHER FOREIGN LIABILITIES	MF_NF_009	Block-2: Other Foreign Liabilities for the previous year (end March 2024) reported in the current survey year (2024-25 round) is inconsistent with the current year reporting (end March 2024) in previous survey year (2023-24 round).
15	If both previous year and current year foreign liabilities > 1000 (Rs in Lakhs) and deviation is larger than 50% in Block2 OTHER FOREIGN LIABILITIES	MF_NF_010	Block-2: There is a high deviation in OTHER FOREIGN LIABILITIES from previous year to current year.
16	If the foreign assets deviation is larger than 10% in Block3 OTHER FOREIGN ASSETS	MF_NF_011	Block-3: Other Foreign Assets for the previous year (end March 2024) reported in the current survey year (2024-25 round) is inconsistent with the current year (end March 2024) reporting in previous survey year (2023-24 round).
17	If both previous year and current year foreign assets > 1000 (Rs in Lakhs) and deviation is larger than 50% in Block3 OTHER FOREIGN ASSETS	MF_NF_012	Block-3: There is a high deviation in OTHER FOREIGN ASSETS from previous year to current year.
18	If the total of all the below Blocks (Block1 Column 6 and 8, Block2 Column 12, Block3 Column 19) are null or zero	MF_NF_013	The company has reported nil information i.e., there is no foreign liabilities and assets of the company.
19	If the Country is not available for year (Unit for non-residents) in Block1 UNITS ISSUED TO AND OUTSTANDING IN THE NAME OF NON-RESIDENTS	MF_NF_014_B1	Block-1: Country of residence of unit holder is not given in Block-1.
20	If the Country is not available for (Liability Type) in Block2 OTHER FOREIGN LIABILITIES	MF_NF_014_B2	Block-2: Country of non-resident (OTHER FOREIGN LIABILITIES) is not given in Block-2.
21	If the Country is not available for (Asset Type) in Block3 OTHER FOREIGN ASSETS	MF_NF_014_B3	Block-3: Country of non-resident (OTHER FOREIGN ASSETS) is not given in Block-3.
22	If sum of the data for XX (no specific country) and IN (INDIA) is larger than 50,000 ₹ lakh and the proportion of the same from the total is more than 50% for the current Survey year in Block1 UNITS ISSUED TO AND OUTSTANDING IN THE NAME OF NON-RESIDENTS for Market Value (Column 8)	MF_NF_015	Block-1: " NO specific country & India " has been selected instead of Foreign Country Name for market value of units held by non-resident.

 

Ans. KYC Identifier means the unique number or code assigned to a customer of an RE by the Central KYC Records Registry (CKYCR). If the customer approaches an RE for opening an account, he can provide his KYC Identifier and give consent to the RE to download the valid KYC data from CKYCR. This can obviate the need for the customer to submit KYC documents again while opening an account with another RE.

Ans.: Total invoice value in Indian Rupees (INR) in actuals (including billing to subsidiary(s)/associate(s) abroad) during the reference period to major countries/regional groups.

Ans: There are no charges or fees associated with using e₹ or e₹ wallets.

In terms of Annexure II Part A (Notes and Instructions for compilation) for Schedule 13: Interest Income of Reserve Bank of India (Financial Statements – Presentation and Disclosure) Directions, 2021, Schedule 13 will include all types of interest / discount income for the banks. Accordingly, banks will disclose fees and charges, including penal charges, recovered from customers in ‘Schedule 14: Other Income’.

ಉತ್ತರ. ಉಚಿತವಹಿವಾಟುಗಳ ಸಂಖ್ಯೆಯ ಮೇಲಿನ ಸೂಚಿಯು ಹಣಕಾಸು ಹಾಗೂ ಹಣಕಾಸೇತರ ಎರಡೂ ವಹಿವಾಟುಗಳನ್ನು ಒಳಗೊಂಡಿರುತ್ತದೆ.

Response: Joint deposit of two or more eligible depositors is allowed under the scheme. The deposit will be credited to a joint deposit account opened in name of such depositors. The existing rules on joint operation of bank accounts including nomination will be applicable.

Ans. A Small PPI (with cash loading facility) can be held for a maximum period of 24 months only. The 24 months shall be counted from the day of opening such a PPI. Within this period of 24 months, it has to be converted into a full-KYC PPI failing which, no further credit in such PPI shall be allowed. However, the PPI holder shall be allowed to use the available balance.

ಹೌದು. ದಯವಿಟ್ಟು ಮೇಲಿನ ಪ್ರಶ್ನೆಯ [ಪ್ರಶ್ನೆ ಸಂಖ್ಯೆ 13] ಉತ್ತರ ನೋಡಿರಿ.
ಆದರೆ ಬ್ಯಾಂಕು ಹೆಚ್ಚು ಶುಲ್ಕ ವಿಧಿಸದಿದ್ದರೆ ಮತ್ತು ಬಿಡಿಬಿಡಿಎ ಖಾತೆಗಳಲ್ಲಿ ನಿಗದಿ ಪಡಿಸಿದವುಗಳಿಗಿಂತ ಕನಿಷ್ಠ ಬ್ಯಾಲೆನ್ಸ್ ಇಲ್ಲದೆ ಹೆಚ್ಚು ಸೌಲಭ್ಯಗಳನ್ನು ಉಚಿತವಾಗಿ ನೀಡಿದರೆ ಅಂತಹ ಖಾತೆಗಳನ್ನು ಬಿಎಸ್ಬಿಡಿಎ ಎಂದು ಗುರುತಿಸಬಹುದು.

Ans : Yes, the banking system too benefits from ECS Credit Scheme such as –

• Freedom from paper handling and the resultant disadvantages of handling, presenting and monitoring paper instruments presented in clearing. Ease of processing and return for the destination bank branches.

• Smooth process of reconciliation for the sponsor banks.

• Cost effective.

There is no restriction on residents holding foreign coins.

• IIBs would be a G-Sec and issued as part of the approved Government market borrowing programme.

• Therefore, IIBs would automatically get SLR status.

The salient features of the Framework are as under:

(i) Before a loan account of an MSME turns into a Non-Performing Asset (NPA), banks or creditors should identify incipient stress in the account by creating three sub-categories under the Special Mention Account (SMA) category as given in the Framework.

(ii) Any MSME borrower may also voluntarily initiate proceedings under this Framework.

(iii) Committee approach to be adopted for deciding corrective action plan.

(iv) Time lines have been fixed for taking various decisions under the Framework.

Ans. Yes. The PSS Act 2007 does not prohibit foreign entities from operating a payment system in India. The Act does not discriminate/differentiate between foreign entities and domestic entities. (Pl see Sections 4 and 18 of the PSS Act, 2007). Please also see Ans to Q.12.

Such returns which require qualitative or subjective inputs and narrations may be considered for classification as complex returns by the banks and may be taken up for implementation towards the end of the project.

On return from a foreign trip travellers are required to surrender unspent foreign exchange held in the form of currency notes within 90days and travellers’ cheques within 180 days of return. However, they are free to retain foreign exchange upto USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their RFC(Domestic) Account without any limit.

Yes, the banking system too benefits from ECS Credit Scheme such as – Freedom from paper handling and the resultant disadvantages of handling, presenting and monitoring paper instruments presented in clearing. Ease of processing and return for the destination bank branches. Smooth process of reconciliation for the sponsor banks. Cost effective.

Ans: The remitter and the beneficiary can track status of NEFT transaction by contacting NEFT Customer Facilitation Centre (CFC) of their bank, respectively. Details of NEFT CFCs of banks are available on the websites of the respective banks. The details of CFC of member banks are also available on the website of RBI at /en/web/rbi/-/customer-facilitation-centres-neft-updated-as-on-june-16-2023-2070-1.

For the purpose of faster tracking of transaction, you may need to provide few details related to transaction such as Unique Transaction Reference (UTR) number / transaction reference number, date of transaction, sender IFSC, amount, beneficiary name, beneficiary IFSC, etc., to your bank.

Ans. Where the medical expenses in respect of NRI close relative [‘relative’ as defined in Section 2(77) of the Companies Act, 2013) are paid by a resident individual, such a payment being in the nature of a resident to resident transaction may be covered under the term “services related thereto” under Regulation 6(2) of Notification No. FEMA 14(R)/2016-RB dated May 2, 2016.

The Banking Ombudsman endeavours to promote, through conciliation or mediation, a settlement of the complaint by agreement between the complainant and the bank named in the complaint.If the terms of settlement (offered by the bank) are acceptable to one in full and final settlement of one's complaint, the Banking Ombudsman will pass an order as per the terms of settlement which becomes binding on the bank and the complainant.

The allotment to the non-competitive segment will be at the weighted average rate that will emerge in the auction on the basis of competitive bidding. (Please see answers to Q14 & Q17 ).

A bank may, at its discretion, renew an overdue deposit or a portion thereof provided the overdue period from the date of maturity till the date of renewal (both days inclusive) does not exceed 14 days and the rate of interest payable on the amount of the deposit so renewed shall be the appropriate rate of interest for the period of renewal as prevailing on the date of maturity. In the case of overdue deposits where the overdue period exceeds 14 days and if the depositor places the entire amount of overdue deposit or a portion thereof as a fresh term deposit, the bank may fix its own interest rates for the overdue period on the amount so placed as a fresh deposit. If an overdue deposit standing in the name of a living depositor under reinvestment plan or an ordinary fixed deposit is renewed by the bank under reinvestment plan at the specific request of the depositor, payment of compounded interest can be allowed.II. NRI Deposits

In respect of direct investment in Nepal or Bhutan, the total financial commitment is permitted up to Indian Rupees 700 crores in any one financial year.

Ans : For the purpose of computing capital adequacy of the IDF-NBFC,

1. bonds covering PPP and post commercial operations date (COD) projects in existence over a year of commercial operation shall be assigned a risk weight of 50 percent.

2. All other assets shall be risk weighted as per the extant regulations as given in para 16 of the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

Ans. An indicative checklist of documents is given below:

a) Covering Letter for Membership to CPS, including:

1. Part-A: General Information

2. Part-B: Financial and Risk Management Aspects

b) For Current Account:

1. Application Form for Opening Current Account with RBI Regional Office (Annex-I of Master Directions on Access Criteria for Payment Systems)

2. Original Certificate of Incorporation / Registration

3. Original Certificate of Commencement of Business

4. An Up-to-date Copy of the Memorandum and Articles of Association / Byelaws Duly Authenticated by the Chairman of the Board

5. True Copy of a Resolution (as per specimen on the reverse) of the Board of Directors Authorising the Opening of the Account Together with Specimen of the Signatures of the Authorised Signatories Duly Attested by the Chairman

6. List of Officials Authorised to Operate Account

c) For INFINET Membership:

1. Application Form for INFINET Membership (Annex-IV of Master Directions on Access Criteria for Payment Systems)

2. Undertaking to be Given by the Applicant on Letter Head of the Entity

3. Copy of Board Resolution to Obtain INFINET Membership

4. Details of Existing IT Infrastructure

d) For RTGS Membership:

1. Application Form for RTGS Membership (Annex-V of Master Directions on Access Criteria for Payment Systems)

2. Certified Copy of the Advice of INFINET Membership

3. Undertaking in the Prescribed Form (Stamp Paper)

4. Power of Attorney, in Original, in the Prescribed Form (Stamp Paper)

5. Certified True Copy of the Resolution of the Board of Directors Authorising to Apply for the Membership of the RTGS System

6. Standing Instructions for Start of the Day Fund Transfer

e) For NEFT Membership:

1. Application Form for NEFT Membership (Annex-VI of Master Directions on Access Criteria for Payment Systems)

2. Certified True Copy of RTGS Membership Certificate

There are two types of GAH users (i) Transactional Users - users who can do order management- place/modify/cancel/hold/release and trade. (ii) View Users- who can only view orders/traded placed by various transactional users under the same GAH.

On the date of maturity, the proceeds will be credited to the bank account as per the details on record.In case there are changes in any details, such as, account number, IFSC code, etc then the investor must intimate Reserve Bank of India , through the Authorised Banks promptly.

No. The deposit insurance scheme is compulsory and no bank can withdraw from it.

A franchiser, i.e. AD Category–I Bank/ AD Category–II / FFMC should undertake the following minimum checks while conducting due diligence of its franchisees:

1. existing business activities of the franchisee/ its position in the area

2. minimum Net Owned Funds of the franchisee

3. Shops & Establishments / other applicable municipal certification in favour of the franchisee

4. verification of physical existence of location of the franchisee, where restricted money changing activities will be conducted

5. conduct certificate of the franchisee from the local police authorities (certified copy of Memorandum and Articles of Association and Certificate of Incorporation in respect of incorporated entities)
   
   Note: Obtaining of Conduct Certificate of the franchisee from the local police authorities is optional for the franchisers. However, the franchisers may take due care to avoid appointing individuals/ entities as franchisees who have cases / proceedings initiated / pending against them by any law enforcing agencies.

6. declaration regarding past criminal case, if any, cases initiated / pending against the franchisee or its directors / partners by any law enforcing agency, if any

7. PAN Card of the franchisee and its directors / partners

8. photographs of the directors / partners and the key persons of franchisee

The above checks should be done on a regular basis, at least once in a year. The franchiser should obtain from the franchisees proper documentary evidence confirming the location of the franchisees in addition to personal visits to the site. The franchiser should also obtain a Chartered Accountant's certificate confirming the maintenance of minimum Net Owned Funds of the franchisee, i.e., Rs.10 lakh on an ongoing basis.

In case the aggregate amount bid is more than the reserved amount through non-competitive bidding, allotment would be made on a pro rata basis.

Example:

Suppose, the amount reserved for allotment in non-competitive basis is 10 crore. The total amount of bids for non-competitive segment is 12 crore. The partial allotment percentage is =10/12=83.33%. That is, each bank or PD or specified stock exchange who has submitted non-competitive bids received from eligible investors will get 83.33% of the total amount submitted by him. It may be noted that the actual allotment may vary slightly at times from the partial allotment ratio due to rounding off with a view to ensuring that the allotted amounts are in multiples of 10,000/-.

Ans. A customer is required to pay only those charges which are explicitly mentioned in the factsheet provided by the lender. Besides this, the customer should also note the following:

• There is no pre-payment penalty on microfinance loans.

• Penalty, if any, for delayed payment can be applied only on the overdue amount and not on the entire loan amount.

• Any change in interest rate or any other charge shall be informed to the borrower in writing well in advance and these changes shall be effective only prospectively.

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

Yes. The customer can approach the bank to discount or purchase the cheque. It is the commercial decision to extend this facility to customers based on customer profile. It needs to be appreciated that the charges for purchase / discount will be significantly higher because the bank will be parting with the proceeds before realising the cheques. The charges will vary depending on when the request for discount / purchase is made by the customer and the period for which the bank is out of funds.

Response

Yes. Please refer to response to the above query (Query No.14). However, if the bank does not levy any additional charges and offers more facilities free than those prescribed under BDBDA a/cs without minimum balance then such accounts can be classified as BSBDA.

Yes. As per the 13 of the Scheme, the NBFC Ombudsman may reject a complaint at any stage on the following grounds:the complaint made is not on the grounds of complaint referred to in clause 8 of the Scheme; orthe compensation sought is beyond the pecuniary limit specified under the Scheme; orthe complaint made requires consideration of elaborate documentary and oral evidence and the proceedings before the Ombudsman are not appropriate for adjudication of such complaint; orthe complaint made is without any sufficient cause; orthe complaint made is not pursued by the complainant with reasonable diligence required to be taken; orin the opinion of the Ombudsman there is no loss or damage or inconvenience caused to the complainant.

Yes.

• The minimum investment limit is Rs. 5,000/- (five thousand).

• The maximum limit is Rs. 10 lakh per annum for eligible individual investors and Rs. 25 lakh per annum for institutions such as HUFs, Charitable Trusts, Education Endowments and similar institutions which are not pro-profit in nature.

Ans. No

Yes. As per Clause 13 of the Scheme, the Ombudsman may reject a complaint at any stage on the following grounds:Complaint not on the grounds of complaint referred to in Clause 8; orNot in accordance with Sub Clause (3) of Clause 9; orThe compensation claimed beyond the limit prescribed under Clause 12 (5) and 12 (6): orRequiring consideration of elaborate documentary and oral evidence and the proceedings before the Ombudsman are not appropriate for adjudication of such complaint; orWithout any sufficient cause; orComplaint not pursued by the complainant with reasonable diligence; orIn the opinion of the Ombudsman there is no loss or damage or inconvenience caused to the complainant.

Ans. A settlement file provides information as to how much amount has to be debited from and credited to the accounts of participants (sellers, buyers and financiers), due on a particular date / time. In other words, it indicates how much a financier has to pay to an MSME seller, and how much a buyer owes to the financier on a particular date / time. The TReDS entities generate the settlement file and send the same to existing payment systems (for instance, National Automated Clearing House) for actual payment of funds.

Resolution Framework is applicable in respect of all eligible borrowers subject to the exclusions prescribed in Paragraph 2 of the Annex to the circular dated August 6, 2020. In respect of those sectors where the sector-specific thresholds have not been specified in the circular dated September 7, 2020, lending institutions shall make their own internal assessments regarding TOL/ATNW and Total Debt/EBITDA. However, the current ratio and DSCR in all cases shall be 1.0 and above, and ADSCR shall be 1.2 and above.

Response: A co-branding partner (CBP) acting as a BC or technology service provider for the card-issuer shall abide by the rules as prescribed in the instructions issued by RBI for such activities. However, a CBP shall not have access to card transaction data irrespective of any other service offered by them to the card-issuer. For the purpose of customer convenience, card transaction related data may be drawn directly from the card-issuer’s system in an encrypted form and displayed in the CBP’s platform with robust security. The information displayed through the CBP’s platform shall be visible only to the cardholder and shall neither be accessed nor be stored by the CBP. 

In such cases, he/she may apply to the Executive Magistrate to execute the document or make endorsement on his/her behalf after producing sufficient documentary evidence about his/her identity and satisfying the Executive Magistrate that he/she has understood the implications of such execution or endorsement.

Bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India Ltd. (SHCIL) and the authorised stock exchanges either directly or through their agents.

Ans. No ratings or guidelines have been prescribed under LRS of USD 2,50,000 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 and such investments shall be in accordance with Overseas Investment Rules and Regulations, 2022 and the directions made thereunder.

Answer: Yes, the income from INR balance can be repatriated subject to applicable regulatory guidelines and tax provisions.