Ans. As compounding is based on voluntary admissions and disclosures, there is no provision under the of Foreign Exchange (Compounding Proceedings) Rules, 2024, for an appeal against the order of the Compounding Authority or for a request for reduction of amount imposed or extension of period for payment of the amount imposed.

Ans.: Company has to mention percentage of this service under ‘Offshore product development’ in Q-3 (D) of Part-A and consolidated amount under Q-5 (a-iv) for software products.

The complainant is required to provide the following details

1. Name of the complainant, age and gender;

2. Full postal address of the complainant with personal e-mail ID, mobile number (mandatory to receive notifications), and landline number (if available);

3. Name and address of the branch or office of the RE against which the complaint is filed;

4. Complete facts giving rise to the complaint, including, transaction date and details, the details of the complainant’s account number, debit card or credit card number to the extent that they are relevant to the subject matter of the complaint;

5. Date and details of the representation submitted to the RE for redressal of grievance and reply, if any, received from the RE;

6. The nature and extent of the loss caused to the complainant; and

7. The relief sought; along with

8. Declaration that the complaint is not non-maintainable as per Clause 10 of the RB-IOS 2021.

Note: The complainant shall submit, along with the complaint, copies of the relevant documents supporting the complaint.

Ans. A customer can obtain his KYC Identifier through the following ways:

1. In the process of opening an account, once the customer’s KYC Identifier is generated by CKYCR and provided to the RE, the latter shall share the same with the concerned customer.
2. The customer can also access his KYC Identifier on CKYCR Portal (www.ckycindia.in).

If you have a complaint against only scheduled bank on any of the above grounds, you can lodge a complaint with the bank concerned in writing in a specific complaint register provided at the branches as per the recommendation of the Goiporia Committee or on a sheet of paper. Ask for a receipt of your complaint. The details of the official receiving your complaint may be specifically sought. If the bank fails to respond within 30 days, you can lodge a complaint with the Banking Ombudsman. (Please note that complaints pending in any other judicial forum will not be entertained by the Banking Ombudsman). No fee is levied by the office of the Banking Ombudsman for resolving the customer’s complaint. A unique complaint identification number will be given to you for tracking purpose. (A list of the Banking Ombudsmen along with their contact details is provided on the RBI website).

Complaints are to be addressed to the Banking Ombudsman within whose jurisdiction the branch or office of the bank complained against is located. Complaints can be lodged simply by writing on a plain paper or online at www.bankingombudsman.rbi.org.in or by sending an email to the Banking Ombudsman. Complaint forms are available at all bank branches also.

Complaint can also be lodged by your authorised representative (other than a lawyer) or by a consumer association / forum acting on your behalf.

If you are not happy with the decision of the Banking Ombudsman, you can appeal to the Appellate Authority in the Reserve Bank of India.

Ans: In terms of Section 26 of the Reserve Bank of India (RBI) Act, 1934, every ₹ bank note shall be legal tender at any place in India in payment or on account for the amount expressed therein and is guaranteed by the Central Government. e₹, being a digital form of the ₹ bank note, is legal tender and is the liability of Reserve Bank of India.

Response: For redressal of his/her grievance, the customer must first approach the concerned card-issuer. If the card-issuer does not respond within a period of 30 days after filing of the complaint or rejects the complaint wholly/partly or if the customer is not satisfied with the response/resolution given by the card-issuer, the customer can lodge his/her complaint with the Ombudsman, Reserve Bank through any of the following methods:

i. Online at  https://cms.rbi.org.in.

ii. Physical complaint (letter/post) in the form as specified in Annexure ‘A’ of the Reserve Bank - Integrated Ombudsman Scheme, 2021 to “Centralised Receipt and Processing Centre, 4th Floor, Reserve Bank of India, Sector -17, Central Vista, Chandigarh - 160017”.

ಉತ್ತರ. ಕೆಳಗಿನ ಪ್ರಕಾರದ ನಗದು ಹಿಂಪಡೆಯುವ ವಹಿವಾಟುಗಳಿಗಾಗಿ ಸೇವಾ ಶುಲ್ಕಗಳನ್ನು ಬ್ಯಾಂಕ್ ಸ್ವತಹ ನಿರ್ಧರಿಸಬಹುದು: ಎ) ಕ್ರೆಡಿಟ್ ಕಾರ್ಡ್ಗಳ ಬಳಕೆಯೊಂದಿಗೆ ನಗದು ಹಿಂಪಡೆಯುವಿಕೆ. ಬಿ) ವಿದೇಶದಲ್ಲಿರುವ ಎಟಿಎಮ್ನಲ್ಲಿ ನಗದು ಹಿಂಪಡೆಯುವಿಕೆ.

Response:

Sr. No.	Type of Deposit	Principal Repayment on Maturity	Interest Repayment on Maturity
i.	Short Term Bank Deposit (STBD)*	In gold or INR equivalent of the value of deposited gold at time of redemption	In INR with reference to value of gold in terms of Indian Rupees at the time of deposit.
ii.	Medium Term Government Deposit (MTGD)	In gold or INR equivalent of the value of deposited gold at time of redemption	In INR with reference to value of gold in terms of Indian Rupees at the time of deposit.
iii.	Long Term Government Deposit (LTGD)	In gold or INR equivalent of the value of deposited gold at time of redemption	In INR with reference to value of gold in terms of Indian Rupees at the time of deposit.
* with effect from April 05, 2021

In case of all types of deposit, the option of redemption of principal in gold or INR equivalent will be obtained at the time of making the deposit. Further, any premature redemption of MLTGD will only be in INR, while in case of STBD it will be as determined by banks.

ಎಟಿಎಮ್ನಲ್ಲಿನ ಬ್ಯಾಲೆನ್ಸ್ ವಿಚಾರಣೆಯನ್ನು ಬಿಎಸ್ಬಿಡಿಎಯಲ್ಲಿ ಸಿಗುವ 4 ಉಚಿತ ವಿಥ್ಡ್ರಾವಲ್ಗಳಲ್ಲಿ ಸೇರಿಸಬಾರದು.

Ans : ECS Debit transaction can be initiated by any institution (called ECS Debit User) which has to receive / collect amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, insurance premium etc. It is a Scheme under which an account holder with a bank branch can authorise an ECS User to recover an amount at a prescribed frequency by raising a debit to his / her bank account.

The User institution has to first register with an ECS Centre. The User institution has to also obtain the authorization (mandate) from its customers for debiting their account along with their bank account particulars prior to participation in the ECS Debit scheme. The mandate has to be duly verified by the beneficiary’s bank. A copy of the mandate should be available on record with the destination bank where the customer has a bank account.

Ans. In case of any delay in returning the failed payment, the originating customer is eligible to receive compensation at current repo rate plus 2%.

Before a GAH User can start dealing on the NDS-OM Web Module, the PM has to set certain operational risk controls as well as limits for each GAH/GAH User, since PM will continue to be responsible for the settlement of trades done by such GAHs. Accordingly PMs have the facility to set operational risk controls in respect of their GAHs who would be given access to NDS-OM Web so as to mitigate risk arising out of their GAH trades. Every order inputted by GAH on NDS-OM Web would be subject to validations against each risk control set by PM before being passed on to the common order book of NDS-OM. Risk Management involves PM’s setting risk limits for GAHs before the GAHs can start trading.

Ans. Application for authorisation of a payment system operator is assessed against the criteria specified for a particular payment system. For example, the application for issuance and operation of PPI is assessed against the Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India. Similarly, in case of CCP, the application would be assessed against the backdrop of PFMI policy document issued by RBI. As per section 6 of the PSS Act, the Reserve Bank may make such inquiries as it may consider necessary for the purpose of satisfying itself the capacity, credentials of the participants or for any other valid reason. In case, the entity is already regulated by any other authority, information from such authorities may be called for making the assessment. It may be mentioned that for licensing Indian entities as banks in the recent past, the process entailed calling for due diligence reports from foreign regulators wherever the applicant entity had group entities operating in foreign jurisdictions.

Ans: A timeline of two hours from the batch settlement can be expected, within which beneficiary’s account should be credited.

ECS Debit transaction can be initiated by any institution (called ECS Debit User) which has to receive / collect amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, insurance premium etc. It is a Scheme under which an account holder with a bank branch can authorise an ECS User to recover an amount at a prescribed frequency by raising a debit to his / her bank account. The User institution has to first register with an ECS Centre. The User institution has to also obtain the authorization (mandate) from its customers for debiting their account along with their bank account particulars prior to participation in the ECS Debit scheme. The mandate has to be duly verified by the beneficiary’s bank. A copy of the mandate should be available on record with the destination bank where the customer has a bank account.

Any person resident in India can remit upto USD 5,000 in any one year as a gift to a person residing outside India or as donation to a charitable/educational/religious/ cultural organisation outside India. Remittances exceeding the limit require prior permission from the Reserve Bank.

The franchisers, i.e. ADs Category–I Banks / ADs Category–II / FFMCs are expected to put in place adequate arrangements for reporting of transactions by the franchisees to the franchisers on a regular basis (at least monthly). Regular spot audits of all locations of franchisees, at least once in six months, should be conducted by the franchiser. Such audits should involve a dedicated team and incognito visits should also be used to test the compliance level of the franchisees. A system of annual inspection of the books of the franchisees should also be put in place. The purpose of such inspection is to ensure that the money changing business is being carried out by the franchisees in conformity with the terms of the agreement and prevailing Reserve Bank guidelines and that necessary records are being maintained by the franchisees.

Any person aggrieved by an Award issued under Clause 12 or the decision of the Banking Ombudsman rejecting the complaint for the reasons specified in sub-clause (d) to (g) of Clause 13 of the Banking Ombudsman Scheme 2006 (As amended up to July 1, 2017) can approach the Appellate Authority. The Appellate Authority is vested with a Deputy Governor of the RBI.Other recourse and/or remedies available to him/her as per the law can also be explored. The bank also has the option to file an appeal before the Appellate Authority under the Scheme.

In case the aggregate amount bid is less than the reserved amount all the applicants will be allotted in full and the shortfall amount will be taken to the competitive portion.

No. Loan and guarantee could be extended to an overseas entity only if there is already an equity participation by the Indian party in such entity.

A person coming in to India from abroad can bring in with him Indian currency notes within the limits given below: a. upto Rs. 5,000 from any country other than Nepal or Bhutan, and b. any amount in denomination not exceeding Rs.100 from Nepal or Bhutan.

MSME advances not covered under the Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises may be restructured by banks as per the instructions contained in the circular DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019, on ‘Prudential Framework for Resolution of Stressed Assets’, as updated from time to time.

Board of Directors of banks have been empowered to authorise the Asset-Liability Management Committee to fix interest rates on deposits and advances.

Since the aggregator or facilitator has to make payment on the date of issue itself, in case payment is made by the client after date of issue of the security, the consideration amount payable by the client to the aggregator or facilitator would include accrued interest.

• Yes, issuance of IIBs would be within the Govt market borrowing programme of about Rs. 579,000 crore for 2013-14.

The banks through which the deposit into this scheme was made will provide other customer services such as change of bank account details, cancellation of nominee etc.

• Transferability is allowed to the nominee(s) only for individual investors on death of holder.

• Transferability is not allowed for other investors

One can file appeal against the Award or the decision of the Ombudsman rejecting the complaint, within 30 days of the date of receipt of communication of Award or rejection of the complaint. The Appellate Authority may, if satisfied that the applicant had sufficient cause for not making an appeal within prescribed time, may allow a further period not exceeding 30 days.

Ans. The salient features of ‘Full-KYC’ PPIs are as follows:

1. Reloadable in nature;

2. The amount outstanding shall not exceed ₹2,00,000/- at any point of time;

3. There are no limits prescribed for total credits or debits during a month; and

4. They can be used for purchase of goods and services, cash withdrawal and funds transfer.

Response

Balance enquiry through ATMs should not be counted in the four withdrawals allowed free of charge at ATMs.

One can file appeal against the award or the decision of the NBFC Ombudsman rejecting the complaint, within 30 days of the date of receipt of communication of Award or rejection of the complaint. The Appellate Authority may, if he/ she is satisfied that the applicant had sufficient cause for not making an application for appeal within time, also allow a further period not exceeding 30 days.

Ans. No

No. The Resolution Framework does not require any resolution plan in any form to be submitted to the lending institutions at the time of request for invocation. Rather, for invocation, the borrowers are required to merely submit a request to the lending institutions for being considered under the Resolution Framework. Thereafter, the lending institutions will take an in-principle decision – as per their Board approved policy – on invoking the Resolution Framework. After such invocation, the specific contours of resolution plan to be implemented may be decided by the lending institutions, in consultation with the borrower. While for personal loans the resolution plan is to be implemented within 90 days from the date of invocation, for all other loans a period of 180 days from the date of invocation has been prescribed.

At the time of making applications, the Promoters/Promoter Group will have to furnish a road map and methodologies they would adopt to comply with all the requirements of the corporate structure indicated in para 2 (C)(ii) and (iii) of the guidelines and realign the business between the entities to be held under the NOFHC [para 2(C)(iv) of the guidelines] within a period of 18 months. After the ‘in-principle approval’ is accorded by RBI for setting up of the bank, the actual setting up of NOFHC and the bank, re-organization of the Promoter Group entities to bring the regulated financial services entities under the NOFHC as well as realignment of business among the entities under the NOFHC have to be completed within a period of 18 months from the date of in-principle approval or before commencement of banking business, whichever is earlier.

Yes. A customer can apply online through the website of the listed scheduled commercial banks. The issue price of the Gold Bonds will be ₹ 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.

Individuals / Entities from within the country can send ₹2000 banknotes through India Post addressed to any of the 19 RBI Issue Offices, as per procedure laid down by the Department of Posts, for credit to their bank accounts in India.

Such credit shall be subject to relevant RBI / Government regulations, submission of valid identity documents and due diligence as deemed fit by RBI.

Ans. All complaints should be made to the card issuers. Card issuers shall ensure easy access to customers for reporting loss of “identified device” or any other such event which may expose tokens to unauthorised usage.

In such cases where a nomination in respect of a Government security has been made in favour of two or more persons and either or any of the nominees is dead, the surviving nominee or nominees will be entitled to the Government security and payment thereon.

Ans. No.

Ans: Yes.

Ans. The compounding process is completed within 180 days from the date of receipt of the application complete in all aspects, by the Reserve Bank.

Answer: Yes, INR exposure can be hedged in terms of applicable guidelines depending upon underlying transactions.

Ans. For the purpose of opening an account, RE is required to seek the KYC Identifier from the customer or retrieve the same, if available, from the CKYCR and obtain KYC records by using such KYC Identifier. In such cases, the customer is not required to submit the same KYC records/ information/ any other additional identification documents, unless–

1. there is a change in the information of the customer as existing in the records of CKYCR; or
2. the KYC record or information retrieved is incomplete or is not as per the current applicable KYC norms; or
3. the validity period of downloaded documents has lapsed; or
4. the RE considers it necessary in order to verify the identity or address (including current address) of the customer, or to perform enhanced due diligence or to build an appropriate risk profile of the customer.

Ans.: Office expenses includes all the expenses incurred in running of the office in abroad during the year like internet payment, stationary, etc. If the office has been setup outside India in the reference period (say 2024-25) then that will also be included (in this point).

Ans: e₹ is a digital form of ₹ whereas UPI is a means of payment. In addition to being used for payments, e₹ also serves as a ‘store of value’, i.e., e₹ can be withdrawn from one’s bank account and kept separately in the e₹ wallet.

In the case of P2P and P2M payments made at any CBDC QR, the transactions happen between two e₹ wallets, and are settled instantaneously without passing through user’s bank accounts.

For P2P and P2M payments, the functionality of scanning a UPI QR from an e₹ app has also been enabled. In such cases, the settlement will be based on the UPI settlement timelines.

After a complaint gets successfully registered, it is assigned a complaint number. An acknowledgement indicating this complaint number is sent to the complainant through SMS on the mobile number and through e-mail at the email id provided at the time of filing the complaint. The status of the complaint can be checked by using the mobile number and the complaint number (received on the mobile) through the following link: https://cms.rbi.org.in.

The status of the complaint can also be ascertained by the complainant from the Contact Centre at CRPC, Chandigarh by contacting the toll-free number 14448.

ಉತ್ತರ. ಸ್ವಂತ ಬ್ಯಾಂಕ್ ಎಟಿಎಮ್/ಇತರ ಬ್ಯಾಂಕ್ ಎಟಿಎಮ್/ಡಬ್ಲ್ಯೂಎಲ್ಎಯಲ್ಲಿ ಕಾರ್ಡ್ ಬಳಕೆಯನ್ನು ಲೆಕ್ಕಿಸದೇ , ಗ್ರಾಹಕರು ಕಾರ್ಡ್ ನೀಡುವ ಬ್ಯಾಂಕ್ಗೆ ಸಾಧ್ಯವಾದಷ್ಟು ಬೇಗನೆ ದೂರು ನೀಡಬೇಕು.

Response: Suppose the principal amount is, say 302.86 grams of gold, and the customer has to be paid in gold, a bank can repay 302 grams in gold and 0.86 grams in equivalent amount of INR. It may be noted that the interest on deposit shall be calculated in INR on the value of gold at the time of deposit.

ಉತ್ತರ. ಪಿಪಿಐನೀಡಿಕೆದಾರರು ಬ್ಯಾಂಕ್ ಖಾತೆಯು ಪಿಪಿಐದಾರರಿಗೆ ಸಂಬಂಧಿಸಿದೆ ಎಂದು ಪರಿಶೀಲಿಸುವದಕ್ಕಾಗಿ ಜವಾಬ್ದಾರಿಯನ್ನುಹೊಂದಿದ್ದು ಅದಕ್ಕಾಗಿ ಸೂಕ್ತವಾದ ಪರಿಶೀಲನಾ ವಿಧಾನಗಳನ್ನು ರೂಪಿಸಬಹುದು .