ಬಿಎಸ್ಬಿಡಿಎ ಖಾತೆ ತೆರೆಯುವಾಗ ಗ್ರಾಹಕರು ಲಿಖಿತ ಮೂಲಕ ವಿನಂತಿಸಿದರೆ ಎಟಿಎಮ್ ಕಾರ್ಡ್ಗಳನ್ನು ನೀಡಬಹುದು. ಬ್ಯಾಂಕುಗಳು ಎಟಿಎಮ್ ಕಾರ್ಡ್ಗಳನ್ನು ಬಲವಂತವಾಗಿ ಅಂತಹ ಗ್ರಾಹಕರಿಗೆ ನೀಡುವಂತಿಲ್ಲ.

Ans : The ECS Debit User intending to collect receivables through ECS Debit has to submit details of the customers (like name, bank / branch / account number of the customer, MICR code of the destination bank branch, etc.), date on which the customer’s account is to be debited, etc., in a specified format (called the input file) through its sponsor bank to the ECS Centre.

The bank managing the ECS Centre then passes on the debits to the destination banks for onward debit to the customer’s account with the destination bank branch and credits the sponsor bank's account for onward credit to the User institution. Destination bank branches will treat the electronic instructions received from the ECS Centre on par with the physical cheques and accordingly debit the customer accounts maintained with them. All the unsuccessful debits are returned to the sponsor bank through the ECS Centre (for onward return to the User Institution) within the specified time frame.

For further details about the ECS Debit scheme, the ECS Debit Procedural Guidelines – available on the website of Reserve Bank of India at http://www.rbi.org.in/Scripts/ECSUserView.aspx?Id=25 may be referred to.

A person going out of India can take out with him Indian currency notes within the limits given below: a. upto Rs.5000 to any country other than Nepal or Bhutan, and b. any amount in denomination not exceeding Rs.100 to Nepal or Bhutan.

Scheduled commercial banks have been advised in terms of our circular RPCD.SME&NFS. BC.No.102/06.04.01/2008-09 dated May 4, 2009 to put in place a non -discretionary One Time Settlement scheme duly approved by their Boards. The banks have also been advised to give adequate publicity to their OTS policies.

Ans. Yes, the Reserve Bank can refuse to grant authorization under the PSS Act, 2007. However, the Reserve Bank has to give a written notice to such an applicant giving the reasons for refusal and also a reasonable opportunity of being heard {Section 7 (3) of the PSS Act 2007}.

The appellate authority may:Dismiss the appeal; or,Allow the appeal and set aside the Award; or,Remand the matter to the Ombudsman for fresh disposal in accordance with such directions as the Appellate Authority may consider necessary or proper; or,Modify the Award and pass such directions as may be necessary to give effect to the Award so modified; or,Pass any other order as it may deem fit.

The transfer of securities to the clients should be completed within five working days from the date of the auction. This is the responsibility of the aggregator or facilitator.

Ans : The ECS Debit User intending to collect receivables through ECS Debit has to submit details of the customers (like name, bank / branch / account number of the customer, MICR code of the destination bank branch, etc.), date on which the customer’s account is to be debited, etc., in a specified format (called the input file) through its sponsor bank to the ECS Centre.

The bank managing the ECS Centre then passes on the debits to the destination banks for onward debit to the customer’s account with the destination bank branch and credits the sponsor bank's account for onward credit to the User institution. Destination bank branches will treat the electronic instructions received from the ECS Centre on par with the physical cheques and accordingly debit the customer accounts maintained with them. All the unsuccessful debits are returned to the sponsor bank through the ECS Centre (for onward return to the User Institution) within the specified time frame.

For further details about the ECS Debit scheme, the ECS Debit Procedural Guidelines – available on the website of Reserve Bank of India at http://www.rbi.org.in/Scripts/ECSUserView.aspx?Id=25 may be referred to.

Use of the International Credit Cards (ICCs) / ATMs/ Debit Cards can be made for making personal payments like subscription to foreign journals, internet subscription, etc., and for travel abroad in connection with various purposes. Your entitlement of foreign exchange on International Credit Cards (ICCs) is limited by the credit limit fixed by the card issuing authority only. With ICCs you can i) meet expenses/make purchases while abroad ii) make payments in foreign exchange for purchase of books and other items through internet in India. If you have a foreign currency account in India or with a bank overseas, you can even obtain ICCs of overseas banks and reputed agencies. Use of these instruments for payment in foreign exchange in Nepal and Bhutan is not permitted.

Ans: If it is not possible to afford credit to the account of the beneficiary for any reason, destination banks are required to return the transaction (to the originating branch) within two hours of completion of the batch in which the transaction was processed.

Franchisees are required to strictly adhere to the AML / KYC/ CFT guidelines, as applicable to ADs Category–I Banks / ADs Category – II / FFMCs.

Franchisees are required to strictly adhere to the AML / KYC/ CFT guidelines, as applicable to ADs Category–I Banks / ADs Category – II / FFMCs.

Note: No licence for appointment of franchisees will be issued to any FFMC / non-bank AD Category - II, against whom any major DoE / DRI / CBI / Police case is pending. In case where any FFMC / non-bank AD Category - II has received one-time approval for appointing franchisees and subsequent to the date of approval, any DoE / DRI / CBI / Police case is filed, the FFMC / non-bank AD Category - II should not appoint any further franchisees and bring the matter to the notice of the Reserve Bank immediately. A decision will be taken by the Reserve Bank regarding allowing the FFMC / non-bank AD Category - II to appoint franchisees.

One can file the appeal against the award or decision of the Banking Ombudsman rejecting the complaint within 30 days of the date of receipt of the Award, 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.

It will be responsibility of the bank or PD to appropriately allocate securities to their clients in a transparent manner.How does the settlement take place?

Yes. Banks are permitted to offer differential rates of interest on NRE term deposits as in the case of domestic term deposits of Rs. 15 lakh and above. Regarding FCNR(B) deposits, banks are now free to decide the currency wise minimum quantum on which differential rate of interest may be offered subject to the overall ceiling prescribed.

Yes, the limit of US$ 100 million will not be applicable in case of investments made out of ADR/GDR proceeds and investments could be made up to the total amount raised out of the ADR/GDR proceeds.

• To begin with, IIBs will be issued for 10 years.

• As it is advisable to issue IIBs at various maturity points to have benchmarks and cater to diverse market demands, more maturity points may be explored subsequently.

The risk parameters include ‘single order limit’, ‘price/yield range limits’ against the last traded price/yield of the security, activity controls (assigning buy/sell privileges to users), ‘security stock balance’, ‘turnover limits (trading limit in terms of gross amount in face value of all [buy + sell] orders of GAH) and ‘funding limits’ (net aggregate settlement consideration up to which GAH can accumulate net long fund position). Orders beyond the set limits will be rejected.

EXAMPLE OF EMI CALCULATION (PURE FIXED LOAN)

	Amount of Loan		1,000,000.00
	Annual Interest Rate		15.00%
	Number of Payments		120
	Monthly Payment		16,133.50
Number	Payment	Interest	Principal	Balance
0				1,000,000.00
1	16,133.50	12,500.00	3,633.50	996,366.50
2	16,133.50	12,454.58	3,678.91	992,687.59
3	16,133.50	12,408.59	3,724.90	988,962.69
4	16,133.50	12,362.03	3,771.46	985,191.23
5	16,133.50	12,314.89	3,818.61	981,372.62
6	16,133.50	12,267.16	3,866.34	977,506.28
7	16,133.50	12,218.83	3,914.67	973,591.62
8	16,133.50	12,169.90	3,963.60	969,628.02
9	16,133.50	12,120.35	4,013.15	965,614.87
10	16,133.50	12,070.19	4,063.31	961,551.56
11	16,133.50	12,019.39	4,114.10	957,437.46
12	16,133.50	11,967.97	4,165.53	953,271.93
13	16,133.50	11,915.90	4,217.60	949,054.34
14	16,133.50	11,863.18	4,270.32	944,784.02
15	16,133.50	11,809.80	4,323.70	940,460.32
16	16,133.50	11,755.75	4,377.74	936,082.58
17	16,133.50	11,701.03	4,432.46	931,650.12
18	16,133.50	11,645.63	4,487.87	927,162.25
19	16,133.50	11,589.53	4,543.97	922,618.28
20	16,133.50	11,532.73	4,600.77	918,017.51
21	16,133.50	11,475.22	4,658.28	913,359.24
22	16,133.50	11,416.99	4,716.51	908,642.73
23	16,133.50	11,358.03	4,775.46	903,867.27
24	16,133.50	11,298.34	4,835.15	899,032.12
25	16,133.50	11,237.90	4,895.59	894,136.52
26	16,133.50	11,176.71	4,956.79	889,179.73
27	16,133.50	11,114.75	5,018.75	884,160.98
28	16,133.50	11,052.01	5,081.48	879,079.50
29	16,133.50	10,988.49	5,145.00	873,934.50
30	16,133.50	10,924.18	5,209.31	868,725.18
31	16,133.50	10,859.06	5,274.43	863,450.75
32	16,133.50	10,793.13	5,340.36	858,110.39
33	16,133.50	10,726.38	5,407.12	852,703.28
34	16,133.50	10,658.79	5,474.70	847,228.57
35	16,133.50	10,590.36	5,543.14	841,685.43
36	16,133.50	10,521.07	5,612.43	836,073.00
37	16,133.50	10,450.91	5,682.58	830,390.42
38	16,133.50	10,379.88	5,753.62	824,636.81
39	16,133.50	10,307.96	5,825.54	818,811.27
40	16,133.50	10,235.14	5,898.35	812,912.92
41	16,133.50	10,161.41	5,972.08	806,940.83
42	16,133.50	10,086.76	6,046.74	800,894.10
43	16,133.50	10,011.18	6,122.32	794,771.78
44	16,133.50	9,934.65	6,198.85	788,572.93
45	16,133.50	9,857.16	6,276.33	782,296.59
46	16,133.50	9,778.71	6,354.79	775,941.81
47	16,133.50	9,699.27	6,434.22	769,507.58
48	16,133.50	9,618.84	6,514.65	762,992.93
49	16,133.50	9,537.41	6,596.08	756,396.85
50	16,133.50	9,454.96	6,678.54	749,718.31
51	16,133.50	9,371.48	6,762.02	742,956.30
52	16,133.50	9,286.95	6,846.54	736,109.75
53	16,133.50	9,201.37	6,932.12	729,177.63
54	16,133.50	9,114.72	7,018.78	722,158.85
55	16,133.50	9,026.99	7,106.51	715,052.34
56	16,133.50	8,938.15	7,195.34	707,857.00
57	16,133.50	8,848.21	7,285.28	700,571.72
58	16,133.50	8,757.15	7,376.35	693,195.37
59	16,133.50	8,664.94	7,468.55	685,726.82
60	16,133.50	8,571.59	7,561.91	678,164.91
61	16,133.50	8,477.06	7,656.43	670,508.47
62	16,133.50	8,381.36	7,752.14	662,756.33
63	16,133.50	8,284.45	7,849.04	654,907.29
64	16,133.50	8,186.34	7,947.15	646,960.14
65	16,133.50	8,087.00	8,046.49	638,913.64
66	16,133.50	7,986.42	8,147.08	630,766.57
67	16,133.50	7,884.58	8,248.91	622,517.65
68	16,133.50	7,781.47	8,352.03	614,165.63
69	16,133.50	7,677.07	8,456.43	605,709.20
70	16,133.50	7,571.37	8,562.13	597,147.07
71	16,133.50	7,464.34	8,669.16	588,477.91
72	16,133.50	7,355.97	8,777.52	579,700.39
73	16,133.50	7,246.25	8,887.24	570,813.15
74	16,133.50	7,135.16	8,998.33	561,814.82
75	16,133.50	7,022.69	9,110.81	552,704.01
76	16,133.50	6,908.80	9,224.70	543,479.31
77	16,133.50	6,793.49	9,340.00	534,139.31
78	16,133.50	6,676.74	9,456.75	524,682.56
79	16,133.50	6,558.53	9,574.96	515,107.59
80	16,133.50	6,438.84	9,694.65	505,412.94
81	16,133.50	6,317.66	9,815.83	495,597.11
82	16,133.50	6,194.96	9,938.53	485,658.58
83	16,133.50	6,070.73	10,062.76	475,595.81
84	16,133.50	5,944.95	10,188.55	465,407.26
85	16,133.50	5,817.59	10,315.90	455,091.36
86	16,133.50	5,688.64	10,444.85	444,646.51
87	16,133.50	5,558.08	10,575.41	434,071.09
88	16,133.50	5,425.89	10,707.61	423,363.48
89	16,133.50	5,292.04	10,841.45	412,522.03
90	16,133.50	5,156.53	10,976.97	401,545.06
91	16,133.50	5,019.31	11,114.18	390,430.88
92	16,133.50	4,880.39	11,253.11	379,177.77
93	16,133.50	4,739.72	11,393.77	367,784.00
94	16,133.50	4,597.30	11,536.20	356,247.80
95	16,133.50	4,453.10	11,680.40	344,567.40
96	16,133.50	4,307.09	11,826.40	332,741.00
97	16,133.50	4,159.26	11,974.23	320,766.77
98	16,133.50	4,009.58	12,123.91	308,642.85
99	16,133.50	3,858.04	12,275.46	296,367.39
100	16,133.50	3,704.59	12,428.90	283,938.49
101	16,133.50	3,549.23	12,584.26	271,354.23
102	16,133.50	3,391.93	12,741.57	258,612.66
103	16,133.50	3,232.66	12,900.84	245,711.82
104	16,133.50	3,071.40	13,062.10	232,649.72
105	16,133.50	2,908.12	13,225.37	219,424.35
106	16,133.50	2,742.80	13,390.69	206,033.66
107	16,133.50	2,575.42	13,558.07	192,475.58
108	16,133.50	2,405.94	13,727.55	178,748.03
109	16,133.50	2,234.35	13,899.15	164,848.89
110	16,133.50	2,060.61	14,072.88	150,776.00
111	16,133.50	1,884.70	14,248.80	136,527.21
112	16,133.50	1,706.59	14,426.91	122,100.30
113	16,133.50	1,526.25	14,607.24	107,493.06
114	16,133.50	1,343.66	14,789.83	92,703.23
115	16,133.50	1,158.79	14,974.71	77,728.52
116	16,133.50	971.61	15,161.89	62,566.63
117	16,133.50	782.08	15,351.41	47,215.22
118	16,133.50	590.19	15,543.31	31,671.91
119	16,133.50	395.90	15,737.60	15,934.32
120	16,133.50	199.18	15,934.32	0.00

Loan amount x rpm x  (1+pm)  
                                    (1+pm)

• rpm= interest per month (rate of interest per year/12)
• n= number of installments

NB: If you have a fixed budget towards EMI you can arrive at loan amount by changing the other variables such as by reducing the rate of interest or by increasing the tenure of loan. This can also be arrived at through EMI calculator by a trial-and-error approach.

The deposit shall be made in the form of cash or draft or cheque drawn in favor of the Authorized Bank accepting such deposit or by electronic transfer.

Response

ATM debit cards may be offered at the time of opening BSBDA and issued if the customer requests for the same in writing. Banks need not force ATM debit cards on such customers.

The appellate authority may act as given under:dismiss the appeal; orallow the appeal and set aside the Award; orsend the matter to the NBFC Ombudsman for fresh disposal in accordance with such directions as the Appellate Authority may consider necessary or proper; ormodify the Award and pass such directions as may be necessary to give effect to the modified award; orpass any other order as it may deem fit.

• Yes, these securities are eligible to be used as collateral for loans from banks, financial Institutions and Non Banking Financial Companies, (NBFC).

Ans. Yes

Ans. The customer can contact his / her bank / branch if there is an issue of delay / non-credit to the beneficiary account. The details of Customer Facilitation Centre of member banks are also available on the website of RBI at https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2070.

Para 17 read with para 21 of the Resolution Framework for COVID-19-related Stress dated August 6, 2020 (RF 1.0) makes signing of ICA mandatory for all the lending institutions who have exposure to the concerned borrower (subject to para 19¹). Since the borrower has opted for restructuring as a consequence of stress in the account, all the exposures to the borrower shall be treated as restructured and provisions shall be held on the entire residual debt, including the working capital facility.

Yes. A minor can be a nominee. However, the sole holder or all the joint holders of a Government security may appoint another individual, not being a minor, to receive the proceeds of the Government security on behalf of the nominee in the event of the death of the sole holder or all the joint holders during the minority of the nominee.

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.

The nominal value of Gold Bonds shall be in Indian Rupees fixed on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewelers Association Limited, for the last 3 business days of the week preceding the subscription period.

The facility for deposit / exchange of ₹2000 banknotes at the 19 RBI Issue Offices shall be available until further advice.

Ans. Permanent Account Number (PAN) is mandatory for all transactions under LRS.

Ans. Based on risk perception, etc., card issuers may decide whether to allow cards issued by them to be registered by a token requestor.

Answer: No.

Ans. One can refer to Directions – Compounding of contraventions under FEMA, 1999, available on Reserve Bank’s website.

Yes. A complaint can be filed through an authorized representative of the complainant (other than through an advocate). Such complaints should be submitted along with an authorization in the Form prescribed in the Scheme {containing details of the representative, i.e. Name, address, mobile number (mandatory to receive notifications) and e-mail}.

Ans. V-CIP is an alternate method of customer identification with facial recognition and customer due diligence that allows REs to obtain and verify a customer’s identity information through a digital, secure, live, informed and consent-based and live audio-visual interaction between an authorised RE official and the customer to obtain identification information required for CDD purpose. V-CIP eliminates the need for physical visit to a branch of the RE but is treated on par with face-to-face CIP. Assisted V-CIP is also permitted when banks take help of Business Correspondents (BCs) facilitating the process only at the customer end.

Ans.: Total amount held abroad at the beginning of reference period would mean the outstanding amount that is to be received from abroad (for the exports made) at the beginning of reference period i.e., April 2024-March 2025 (refers to 'as on April 01, 2024'). It is the opening balance of the accounts receivables (for exports).

Ans: The offline feature of e₹ enables the user to transact in locations with limited or no internet connectivity. It is expected to mirror the advantages of physical cash, making it a reliable solution for usage in remote areas. Currently, different solutions are being explored. One solution facilitates transactions without internet but still requires telecom connectivity, while another solution is testing transactions leveraging NFC communication,

ಉತ್ತರ. ಬ್ಯಾಂಕುಗಳು ಎಟಿಎಮ್ ಆವರಣಗಳಲ್ಲಿ ಸಂಬಂಧಪಟ್ಟ ಅಧಿಕಾರಿಗಳ ಹೆಸರು/ಗಳುಹಾಗೂ ಸಂಪರ್ಕ್ಸಂಖ್ಯೆ/ಗಳು /ಶುಲ್ಕ ರಹಿತ ಸಂಖ್ಯೆಗಳು / ಹೆಲ್ಪ್ ಡೆಸ್ಕ್ ಸಂಖ್ಯೆಗಳನ್ನು ಪ್ರದರ್ಶಿಸಬೆಕಾಗುತ್ತದೆ. ಅಂತೆಯೇ, ಡಬ್ಲ್ಯೂಎಲ್ಎಗಳಲ್ಲಿ , ವಿಫಲ/ವಿವಾದಿತ ವಹಿವಾಟುಗಳಿಗೆ ಸಂಬಂಧಿಸಿದ ಯಾವುದೇ ದೂರನ್ನು ನೀಡುವುದಕ್ಕಾಗಿ ಅಧಿಕಾರಿಗಳ ಸಂಪರ್ಕ ಸಂಖ್ಯೆಗಳು/ ಶುಲ್ಕ ರಹಿತ ಸಂಖ್ಯೆಗಳು / ಸಹಾಯ ವಾಣಿ ಸಂಖ್ಯೆಗಳನ್ನು ಸಹ ಪ್ರದರ್ಶಿಸಬೆಕಾಗುತ್ತದೆ.

Response: No.

ಉತ್ತರ. ಹೌದು, ಪ್ರತಿ ಪಿಪಿಐದಾರರಿಗೆ ಪ್ರತಿ ತಿಂಗಳಿಗೆ 10,000ದ ಮಿತಿಯೊಳಗೆ ‘ಕೆವೈಸಿ ಕಂಪ್ಲೈಂಟ್ ಪಿಪಿಐ’ನಿಂದ ಹಣ ವರ್ಗಾವಣೆಗೆ ಅವಖಾಶನೀಡಲಾಗುತ್ತದೆ. ಹೀಗಿದ್ದಾಗ್ಯೂ, ಪಿಪಿಐದಾರರು ಫಲಾನುಭವಿಯನ್ನು ‘ಮೊದಲೇ-ನೋಂದಾಯಿಸಿಕೊಂಡಿದ್ದರೆ’ ಪ್ರತಿ ಫಲಾನುಭವಿಗೆ ಪ್ರತಿ ತಿಂಗಳ 1,00,000/ವರೆಗೆ ವರ್ಧಿತ ಮಿತಿಯನ್ನು ಪಡೆಯಬಹುದು. ಆದಾಗ್ಯೂ, ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು , ಪಿಪಿಐದಾರರ ರಿಸ್ಕ್ ಪ್ರೊಫೈಲ್,ಇತರ ಕಾರ್ಯಾಚರಣೆಯ ಅಪಾಯಗಳನ್ನು ಗಣನೆಗೆ ತೆಗೆದುಕೊಂಡ ನಂತರ ಕಡಿಮೆ ಮಿತಿಯನ್ನು ನಿಗದಿಪಡಿಸಬಹುದು.

ಗ್ರಾಹಕರು ಬಿಎಸ್ಬಿಡಿಎ ಖಾತೆಗಳನ್ನು ತೆರೆಯುವಾಗ ಬ್ಯಾಂಕುಗಳು ಎಟಿಎಮ್ ಡೆಬಿಟ್ ಕಾರ್ಡ್, ಎಟಿಎಮ್ ಪಿನ್ ಮತ್ತು ಅದರಲ್ಲಿರುವ ಅಪಾಯದ ಅಂಶಗಳ ಬಗ್ಗೆ ಗ್ರಾಹಕರಿಗೆ ಶಿಕ್ಷಣ ನೀಡಬೇಕು. ಆದರೆ ಒಂದು ವೇಳೆ ಗ್ರಾಹಕರಿಗೆ ಎಟಿಎಮ್ ಡೆಬಿಟ್ ಕಾರ್ಡ್ ಬೇಡವೆನಿಸಿದರೆ, ಅಂತಹ ಗ್ರಾಹಕರಿಗೆ ಬ್ಯಾಂಕುಗಳು ಬಲವಂತವಾಗಿ ಎಟಿಎಮ್ ಡೆಬಿಟ್ ಕಾರ್ಡ್ ನೀಡಬಾರದು. ಆದರೆ ಗ್ರಾಹಕರಿಗೆ ಎಟಿಎಮ್ ಡೆಬಿಟ್ ಕಾರ್ಡ್ ಬೇಕೆನಿಸಿದರೆ, ಬ್ಯಾಂಕುಗಳು ಬಿಎಸ್ಬಿಡಿಎ ತಮ್ಮ ಇತರ ಗ್ರಾಹಕರಿಗೆ ಎಟಿಎಮ್ ಡೆಬಿಟ್ ಕಾರ್ಡ್ ಮತ್ತು ಪಿಐಎನ್ ತಲುಪಿಸುವ ಪದ್ಧತಿಯಲ್ಲೇ ಸುರಕ್ಷಿತ ಚನೆಲ್ಗಳ ಮೂಲಕ ಬಿಎಸ್ಬಿಡಿಎ ಖಾತೆದಾರರಿಗೆ ಅದನ್ನು ನೀಡಬೇಕು.

Ans : The advantages of ECS Debit to customers are many and include,

• ECS Debit mandates will take care of automatic debit to customer accounts on the due dates without customers having to visit bank branches / collection centres of utility service providers etc.

• Customers need not keep track of due date for payments.

• The debits to customer accounts would be monitored by the ECS Users, and the customers alerted accordingly.

• Cost effective.

A person coming into India from abroad can bring with him foreign exchange without any limit provided if foreign currency notes, or travellers cheques exceed US$ 10,000/- or its equivalent and/or the value of foreign currency exceeds US$ 5,000/- or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India.

Yes, banks provide following services to the MSE entrepreneurs:

(i) Rural Self Employment Training Institutes (RSETIs)

At the initiative of the Ministry of Rural Development (MoRD), Rural Self Employment Training Institutes (RSETIs) have been set up by various banks all over the country. These RSETIs are managed by banks with active co-operation from the Government of India and State Governments. RSETIs conduct various short duration (ranging preferably from 1 to 6 weeks) skill upgradation programmes to help the existing entrepreneurs compete in this ever-changing global market. RSETIs ensure that a list of candidates trained by them is sent to all bank branches of the area and co-ordinate with them for grant of financial assistance under any Govt. sponsored scheme or direct lending.

(ii) Financial Literacy and consultancy support:

Banks have been advised to either separately set up special cells at their branches, or vertically integrate this function in the Financial Literacy Centres (FLCs) set up by them, as per their comparative advantage. Through these FLCs, banks provide assistance to the MSE entrepreneurs in regard to financial literacy, operational skills, including accounting and finance, business planning etc. (Refer circular RPCD.MSME & NFS.BC.No.20/06.02.31/2012-13 dated August 1, 2012).

Also, Financial Literacy Centres operated by Scheduled commercial Banks (including RRBs) have been advised vide our circular FIDD.FLC.BC.No.22/12.01.018/2016-17 dated March 02, 2017 to conduct target specific financial literacy camps wherein one of the target groups identified is MSEs.

All OPRC values are modifiable intra-day, subject to relative modifications being applicable only on a prospective basis i.e., they will not impact in any manner trades already concluded prior to such modification request being received by NDS-OM Web. Every order input by any authorized GAH user shall be validated against each of the OPRC values on funding/trading limits given to individual GAH user set by the PM before routing orders to the NDS-OM. Any order that violates the values prescribed for the concerned GAH and/or individual GAH user would be rejected by NDS-OM Web. Orders that successfully pass through OPRC validations set for a GAH by its PM would travel to the NDS-OM system and would be eligible for being traded in the same manner as any other order on the NDS-OM system following requisite order matching rules, conventions and processes. As GAHs remain the constituents of the PM, the trades will seamlessly settle through the existing settlement infrastructure.

Ans. Yes, the Reserve Bank is empowered to revoke the authorization granted by it, if the system provider contravenes any provisions of the Act or Regulations, fails to comply with its orders/ directions or violates the terms and conditions under which the authorization was granted to it (Section 8 of PSS Act 2007).

The advantages of ECS Debit to customers are many and include, ECS Debit mandates will take care of automatic debit to customer accounts on the due dates without customers having to visit bank branches / collection centres of utility service providers etc. Customers need not keep track of due date for payments. The debits to customer accounts would be monitored by the ECS Users, and the customers alerted accordingly. Cost effective.

A person coming into 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.