Persons resident in India are permitted to maintain foreign currency accounts in India under following two Schemes:

1. EEFC Accounts –

To avoid exchange loss on conversion of foreign exchange into Indian Rupee & Rupee into foreign exchange, residents can retain upto 50% of foreign currency remittances received from abroad in a foreign currency account, viz., EEFC account, with an authorised dealer in India . Funds held in EEFC account can be utilised for current account transactions and also for approved capital account transactions as specified by the extant Rules/Regulations/Notifications/Directives issued by the Government/RBI from time to time.

2. RFC Accounts :-

Returning Indians, i.e., those Indians, who were non-residents earlier, and are returning now for permanent stay, are permitted to open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to keep their foreign currency assets. Assets held outside India at the time of return can be credited to such accounts. The funds in RFC account are free from all restrictions regarding utilisation of foreign currency balances including any restriction on investment outside India. The facility is also available to residents provided foreign exchange to be credited to such account is received out of certain specified type of funds/accounts.

The transfer of securities to the clients should be completed within five working days from the date of the auction.Delivery and Form of Holding

No. A deposit has to run for a minimum stipulated period, which is at present one year for FCNR(B) and six months for NRE deposits, to be eligible to earn interest.

No, once the report of remittance in form ODR is received by the Reserve Bank through the designated Authorised Dealer, an identification number for that particular investment is issued for the purpose of future reference. Subsequent investment in the same project will be permitted to be made only after allotment of the identification number.

• As indicated in our press release dated May 15, 2013, size of the each tranche would be Rs. 1,000-2,000 crore.

• The customers should be issued the securities after receiving clear money. After receiving clear money, banks should register the customer on CBS and generate Certificate of Holding.

Ans. Apart from above PPIs, there are the following two categories of PPIs:

1. Gift PPIs; and

2. PPIs for Mass Transit Systems (PPI-MTS).

The Central Government has decided that upto 30.12.2016, the payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Yojana (PMGKY), can be made in Old Bank Notes of ₹ 500 and ₹ 1000 denomination issued by the RBI. The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 has commenced on 17th December, 2016 and is open for declarations upto 31st March, 2017. The payment of tax, surcharge and penalty under the Scheme is to be made through challan ITNS-287 and the deposits are to be made in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016. The notifications relating to PMGKY are available on the website www.incometaxindia.gov.in

Our instructions contained in circular RPCD.CO.RRB.BC.No.57/03.05.33/2011-12 dated January 30, 2012 on Deregulation of Savings Bank Deposit Interest Rate, are applicable to deposits held in ‘Basic Savings Bank Deposit Account’.

Ans. The FAQs on “Legal Entity Identifier (LEI) for Large Value Transactions in Centralised Payment Systems” on the RBI website at https://www.rbi.org.in/Scripts/FAQView.aspx?Id=140 can be referred to.

ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕು ಡಿಪೋಸಿಟ್ ಬಡ್ಡಿದರ ಅನಿಯಂತ್ರಣದ ಬಗೆಗಿನ ನಮ್ಮ ಜನವರಿ 25, 2012ರ ಸುತ್ತೋಲೆ ಸಂಖ್ಯೆ DBOD.Dir.BC.75/13.03.00/2011-12ರಲ್ಲಿನ ಸೂಚನೆಗಳು 'ಬೇಸಿಕ್ ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಡಿಪೋಸಿಟ್ ಅಕೌಂಟ್'ನ ಡಿಪೋಸಿಟ್ಗೆ ಅನ್ವಯಿಸುತ್ತವೆ .

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.

Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.

Ans. The following facilities are available to persons other than individuals:

1. Donations up-to one per cent of their foreign exchange earnings during the previous three financial years or USD 5,000,000, whichever is less, for- (a) creation of Chairs in reputed educational institutes, (b) contribution to funds (not being an investment fund) promoted by educational institutes; and (c) contribution to a technical institution or body or association in the field of activity of the donor Company.

2. Commission, per transaction, to agents abroad for sale of residential flats or commercial plots in India up to USD 25,000 or five percent of the inward remittance whichever is less.

3. Remittances up to USD 10,000,000 per project for any consultancy services in respect of infrastructure projects and USD 1,000,000 per project, for other consultancy services procured from outside India.

4. Remittances up to five per cent of investment brought into India or USD 100,000 whichever is less, by an entity in India by way of reimbursement of pre-incorporation expenses.

5. Remittances up to USD 250,000 per financial year for purposes stipulated under Para 1 of Schedule III to FEM (CAT) Amendment Rules, 2015. However, all residual current account transactions undertaken by such entities are otherwise permissible without any specified limit and are to be disposed off at the level of AD, as hitherto. It is for the AD to satisfy themselves about the genuineness of the transaction.

Anything in excess of above limits requires prior approval of the Reserve Bank of India.

Yes.  A duplicate Government security may be issued if the holding was in the form of SC and GPN. However, no duplicate Government security will be issued for Bearer Bonds/Prize Bonds. Further, no duplicate Government security will be issued in case of matured loans and the redemption proceeds will be paid to the investor after following the procedure for issuing duplicate Government security.

Ans: Currently, there are 14 participants in the wholesale CBDC pilot, which includes banks and non-banks.

On receipt of a complaint, it is scrutinized to assess whether it is a maintainable or a non-maintainable complaint (as explained in Question 14). If found non-maintainable, the complaint is closed, and a suitable communication is issued to the complainant.

For a maintainable complaint, the RBI Ombudsman endeavors to promote resolution by agreement between the complainant and the RE. If an amicable settlement of the complaint is arrived at between the parties, the same is recorded and signed by both the parties. As the parties have agreed to the settlement by affixing their signature on it, it becomes binding on both the parties and no formal Award is issued by the Ombudsman.

If the matter is not resolved through settlement (facilitation or conciliation or mediation) the Ombudsman, after allowing the parties a reasonable opportunity (and based on records placed before him, principles of banking law and practice, directions, instructions and guidelines issued by RBI from time to time and such other factors which in his opinion are relevant for deciding the complaint), may pass an Award (directing the Regulated Entity for specific performance) or reject the complaint (if the RE is found to have adhered to the extant norms and practices in vogue). The outcome of the complaint is communicated to both the complainant and the RE.

Ans.: Yes, it is mandatory. Here the person authorised to fill the form owns the responsibility of information furnished and declares its accuracy including CIN number. It is a final check for all the details which are filled-up in the Part- A to D of ITES survey schedule.

ಉತ್ತರ. ಗ್ರಾಹಕರು ಎಟಿಎಮ್ಗಳು/ಡಬ್ಲ್ಯೂಎಲ್ಎಗಳಲ್ಲಿ ವಹಿವಾಟುಗಳನ್ನು ಸುರಕ್ಷಿತವಾಗಿ ಹಾಗೂ ಸುಭದ್ರವಾಗಿಟ್ಟುಕೊಳ್ಳಲು ಕೆಳಗಿನ ಮಾಡಬೇಕಾದವುಗಳು ಹಾಗೂ ಮಾಡಬಾರದವುಗಳನ್ನು ಗಮನಿಸಬೇಕು:

• ಗ್ರಾಹಕರು ಎಟಿಎಮ್/ಡಬ್ಲ್ಯೂಎಲ್ಎ ವಹಿವಾಟನ್ನು ಸಂಪೂರ್ಣವಾಗಿ ಗೌಪ್ಯತೆಯಿಂದ ನಡೆಸಬೆಕು.
• ಒಂದು ಸಮಯದಲ್ಲಿ ಕೇವಲ ಒಬ್ಬ ಕಾರ್ಡ್ದಾರರು ಮಾತ್ರ ಎಟಿಎಮ್/ಡಬ್ಲ್ಯೂಎಲ್ಎ ಕಿಯೊಸ್ಕ್ ಅನ್ನು ಪ್ರವೇಶಿಸಬೇಕು ಹಾಗೂ ಪ್ರವೇಶಾವಕಾಶ ಪಡೆಯಬೇಕು.
• ಕಾರ್ಡ್ದಾರರು ಅವನ/ಅವಳ ಕಾರ್ಡ್ ಅನ್ನು ಯಾರೊಬ್ಬರಿಗೂ ಎರವಲು ಕೊಡಬಾರದು
• ಕಾರ್ಡದಾರರು ಕಾರ್ಡ್ನಲ್ಲಿ ಪಿನ್ ಅನ್ನು ಬರೆಯಬಾರದು.
• ಕಾರ್ಡದಾರರು ಯಾರೊಂದಿಗೂ ಪಿನ್ ಅನ್ನು ಹಂಚಿಕೊಳ್ಳಬಾರದು
• ಕಾರ್ಡದಾರರು ಎಟಿಎಮ್ನಲ್ಲಿ ಪಿನ್ ಅನ್ನು ನಮೂದಿಸುವಾಗ ಯಾರೊಬ್ಬರು ನೋಡದಂತೆ ನೋಡಿಕೊಳ್ಳಬೇಕು.
• ಕಾರ್ಡದಾರರು ಸುಲಭವಾಗಿ ಊಹಿಸಬಹುದಾದ ಪಿನ್ ಅನ್ನು ಎಂದಿಗೂ ಬಳಸಬಾರದು.
• ಕಾರ್ಡದಾರರು ಎಟಿಎಮ್/ಡಬ್ಲ್ಯೂಎಲ್ಎಯಲ್ಲಿ ಎಂದಿಗೂ ಕಾರ್ಡ್ ಅನ್ನು ಬಿಡಬಾರದು.
• ಕಾರ್ಡದಾರರು ಎಟಿಎಮ್ಗಳಲ್ಲಿ /ಡಬ್ಲ್ಯೂಎಲ್ಎಗಳಲ್ಲಿ ವಹಿವಾಟುಗಳಿಗಾಗಿ ಎಚ್ಚರಿಕೆಗಳನ್ನು ಪಡೆಯುವುದಕ್ಕಾಗಿ ಕಾರ್ಡ್ ನೀಡುವ ಬ್ಯಾಂಕ್ನೊಂದಿಗೆ ಅವನ/ಅವಳ ಮೊಬೈಲ್ ನಂಬರ್ ಅನ್ನು ನೋಂದಾಯಿಸಿಕೊಳ್ಳಬೇಕು.ಖಾತೆಯಲ್ಲಿನ ಯಾವುದೇ ಅನಧಿಕೃತ ಕಾರ್ಡ್ ವಹಿವಾಟು, ಗಮನಕ್ಕೆ ಬಂದರೆ , ತಕ್ಷಣ ಕಾರ್ಡ್ ನೀಡುವ ಬ್ಯಾಂಕ್ಗೆ ವರದಿ ಮಾಡಬೇಕು.
• ಕಾರ್ಡ್ದಾರರು ಜಾಗರೂಕರಾಗಿರಬೇಕು ಹಾಗೂ ಎಟಿಎಮ್ಗಳು ಹಾಗೂ ಡಬ್ಲ್ಯೂಎಲ್ಎಗಳಿಗೆ ಯಾವುದೇ ಹೆಚ್ಚಿನ ಸಾಧನಗ/ಳನ್ನು ಲಗತ್ತಿಸಲಾಗಿದೆಯೇ ಎಂದು ಪರಿಶೀಲಿಸಬೇಕು. ಗ್ರಾಹಕರ ಡೇಟಾ/ಗಳನ್ನು ಮೋಸದಿಂದ ಸೆರೆಹಿಡಿಯಲು ಸ್ಥಳದಲ್ಲಿ ಸಾಧನಗಳನ್ನು ಇಟ್ಟಿರಬಹುದು; ಕಂಡುಬಂದರೆ ,ಸೆಕ್ಯೂರಿಟಿ ಗಾರ್ಡ್/ಬ್ಯಾಂಕ್/ಡಬ್ಲ್ಯೂಎಲ್ಎ ಘಟಕಕ್ಕೆ ತಕ್ಷಣ ತಿಳಿಸಬೇಕು.
• ಕಾರ್ಡ್ದಾರರು ಎಟಿಎಮ್ಗಳು ಹಾಗೂ ಡಬ್ಲ್ಯೂಎಲ್ಎಗಳ ಸುತ್ತಲು ಜನರ ಅನುಮಾನಾಸ್ಪದ ಚಲನವಲನ/ಗಳ ಮೇಲೆ ಕಣ್ಣಿಟ್ಟಿರಬೆಕು. ಅವನು/ಅವಳು ಅಪರಿಚಿತರು ಅವನನ್ನು/ಅವಳನ್ನು ಸಂಭಾಷಣೆಯಲ್ಲಿ ತೊಡಗಿಸಿಕೊಳ್ಳಲು ಅಥವಾ ಎಟಿಎಮ್ ಅನ್ನು ನಿರ್ವಹಿಸುವಲ್ಲಿ ನೆರವು/ ಸಹಾಯವನ್ನು ನೀಡಲು ಪ್ರಯತ್ನಿಸುವಾಗ ಜಾಗರೂಕರಾಗಿರಬೇಕು.
• ಬ್ಯಾಂಕ್ ಅಧಿಕಾರಿಗಳು ದೂರವಾಣಿ/ಇಮೇಲ್ನಲ್ಲಿ ಕಾರ್ಡ್ ವಿವರಗಳು ಅಥವಾ ಪಿನ್ಗಾಗಿ ಎಂದಿಗೂ ಕೇಳುವುದಿಲ್ಲ ಎನ್ನುವುದನ್ನು ನೆನಪಿನಲ್ಲಿಟ್ಟುಕೊಳ್ಳಬೇಕು.

Ans. The modes for periodic updation of KYC for individuals are as under:

1. It can be undertaken at the branch of the RE with which customer maintains the account or any other branch of the same RE; or
2. RE can obtain a self-declaration when there is “no change in KYC information” and also when there is “change only in address details”, through customer’s email-id/ mobile number registered with the RE, ATMs, digital channels (such as online banking / internet banking, mobile application of RE), letter, etc. However, the declared address shall be verified by the RE through positive confirmation within two months; or
3. Aadhaar OTP based e-KYC in non-face-to-face (NF2F) mode and V-CIP;
4. RE is also mandated to update customer’s KYC records based on the update information/ notification, if any, received from CKYCR for the customer concerned.

Ans : No. There is no value limit on the amount of individual transactions that can be collected by ECS Debit.

Ans. Yes, under Section 15 (2) of the PSS Act, the Reserve Bank may disclose any document or information obtained by it to any person to whom the disclosure of such document or information is considered necessary for protecting the integrity, effectiveness or security of the payment system, or in the interest of banking or monetary policy or the operation of the payment systems generally or in the public interest.

• Exclusive series for retail investors would be launched in the second half of the current fiscal year (around October 2013).

No. There is no value limit on the amount of individual transactions that can be collected by ECS Debit.

Taking personal jewellery out of India is governed by Baggage Rules framed under Export-Import Policy by the Government of India. No approval of Reserve Bank is required in this case.

In terms of sub-section 4, of Section (6) of the Foreign Exchange Management Act, 1999, a person resident in India is free to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such person when he was resident outside India or inherited from a person who was resident outside India.

RBI will issue securities only in demat (SGL) form. It will credit the securities to the CSGL account of the bank/PD .

Yes. Whenever the due dates fall on Saturday/Sunday/non-business working day/holidays banks are permitted, to pay interest on NRE and FCNR(B) deposits at the originally contracted rate for the intervening period between the due date and date of payment so that no interest loss is suffered by the depositors.III. Advances

Yes. Companies, which are under the investigation by the Enforcement Directorate or are in the Reserve Bank’s caution/defaulters list, are not eligible to make investment under the automatic route.

The various quantity conditions available are as under:

1. Normal: By default the amount type will be Normal. A Normal order can get partly traded.
2. Disclosed: Disclosed Amount is the part of order amount (In Rs. Crore) which the User is willing to disclose to the market. This is an optional field.
3. All or None (AON): By selecting this option, a User specifies that all of the order should be traded in full i.e. no partial trades, should be allowed. This is an optional field.

The various time conditions available are as under:

4. Day: Under this time condition, order would remain valid throughout the validity of the trading session. It will be available for trade till session close. By default Time Condition - Day is selected.
5. IOC (Immediate or Cancel): If a User wishes his order to be traded immediately, then he could select IOC. Under this condition, when an IOC order is placed, the order would seek for an immediate match, if found it results into a trade; else the IOC order would get cancelled.
6. GTT (Good Till Time): Here while placing an order, the User could mention the time up to which the order would be valid and available for trade. Once the User specified order expiry time has been reached the order would get cancelled.

Ans: The FAQs on “Legal Entity Identifier (LEI) for Large Value Transactions in Centralised Payment Systems” on the RBI website at /en/web/rbi/faq-page-2?ddm__keyword__26256231__FaqDetailPage2Title_en_US=Legal Entity Identifier (LEI) for Large Value Transactions in Centralised Payment Systems can be referred to.

Ans. The salient features of Gift PPIs are as follows:

1. Maximum value of each such prepaid gift instrument shall not exceed ₹10,000/-;

2. Are not reloadable;

3. Cash-out or fund transfer is not permitted. However, the funds may be transferred ‘back to source account’ (account from where Gift PPI was loaded) after receiving consent of the PPI holder;

4. Shall be revalidated (including through issuance of new instrument) as and when requested by the PPI holder; and

5. The Additional Factor of Authentication (AFA) / Two Factor Authentication (2FA) for transactions using Gift PPIs is not mandatory.

Response

BSBDA does not envisage cheque book facility in the minimum facilities that it should provide to BSBDA customers. They are free to extend any additional facility including cheque book facility free of charge (in which case the account remains BSBDA) or charge for the additional facilities (in which case the account is not BSBDA).

• The application form can be downloaded from the RBI’s website. However, banks shall also get forms printed and made available to the investors.

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.

Ans. A resident individual is permitted to make a rupee loan to a NRI/PIO who is a close relative of the resident individual (‘relative’ as defined in Section 2(77) of the Companies Act, 2013) by way of crossed cheque/ electronic transfer subject to the following conditions:

(i) The loan is free of interest and the minimum maturity of the loan is one year.

(ii) The loan amount should be within the overall LRS limit of USD 2,50,000, per financial year, available to the resident individual. It would be the responsibility of the lender to ensure that the amount of loan is within the LRS limit of USD 2,50,000 during the financial year.

(iii) The loan shall be utilised for meeting the borrower's personal requirements or for his own business purposes in India.

(iv) The loan shall not be utilised, either singly or in association with other person, for any of the activities in which investment by persons resident outside India is prohibited, namely;

1. the business of chit fund, or

2. Nidhi Company, or

3. agricultural or plantation activities or in real estate business, or construction of farmhouses, or

4. trading in Transferable Development Rights (TDRs).

Explanation: For the purpose of item (c) above, real estate business shall not include development of townships, construction of residential / commercial premises, roads or bridges.

(v) The loan amount should be credited to the NRO a/c of the NRI /PIO. Credit of such loan amount may be treated as an eligible credit to NRO a/c.

(vi) The loan amount shall not be remitted outside India.

(vii) Repayment of loan shall be made by way of inward remittances through normal banking channels or by debit to the Non-resident Ordinary (NRO)/ Non-resident External (NRE) / Foreign Currency Non-resident (FCNR) account of the borrower or out of the sale proceeds of the shares or securities or immovable property against which such loan was granted.

When a Government security is lost, stolen, destroyed, mutilated or defaced, then the investor(s) may apply to RBI for issue of a duplicate GPN or SC in terms of Regulations 11 and 13, respectively, of GS Regulations.

In case of premature redemption, investors can approach the concerned bank/SHCIL offices/Post Office/agent thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

Ans: The entity receives a system-generated acknowledgement mail of ITES data submitted at the time of final processing itself. No separate mail will be sent in this regard.

Ans: There are two ongoing use cases of e₹-W, (i) funds settlement of secondary market transactions in Government Securities, and (ii) settlement of inter-bank lending and borrowing in call money market. Settlement in central bank money is expected to reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk and benefitting from the programmability and smart contracts functionalities of e₹-W.

DPSS. CO.CHD. No. 274/03.01.02/2012-13, ದಿನಾಂಕ ಆಗಸ್ಟ್ 10,2012ರಲ್ಲಿ
ಬಿಎಸ್ಬಿಡಿಎಯು ಕನಿಷ್ಠ ಸೌಲಭ್ಯನೀಡುವಾಗ ಬಿಎಸ್ಬಿಡಿಎ ಗ್ರಾಹಕರಿಗೆ ಚೆಕ್ಬುಕ್ ಸೌಲಭ್ಯ ನೀಡುವುದನ್ನು ಅಂದಾಜಿಸಿಲ್ಲ. ಬ್ಯಾಂಕುಗಳು ಚೆಕ್ಬುಕ್ ಸೌಲಭ್ಯದಂತಹ ಯಾವುದೇ ಸೌಲಭ್ಯವನ್ನು ಉಚಿತವಾಗಿ [ಆಗ ಖಾತೆಯು ಬಿಎಸ್ಬಿಡಿಎ ಆಗಿ ಉಳಿಯುತ್ತದೆ] ನೀಡಲು ಅಥವಾ ಹೆಚ್ಚಿನ ಸೌಲಭ್ಯಕ್ಕೆ ಶುಲ್ಕ ವಿಧಿಸಲು [ಆಗ ಖಾತೆಯು ಬಿಎಸ್ಬಿಡಿಎ ಆಗಿರುವುದಿಲ್ಲ] ಸ್ವತಂತ್ರರು.

Yes, the conciliation meeting can be held virtually either through the Video Conferencing facility of RBI, for which one may have to visit the nearest RBI Office, or from any nearby branch of the concerned bank or through platforms like WebEx etc. in consultation with the RBI Ombudsman office, and subject to the requirement given by the Office of RBI Ombudsman. Audio Conference calls are also possible.

ಉತ್ತರ. ಕಾರ್ಡ್ ಕಳೆದು ಹೋಗಿರುವುದು/ಕಳ್ಳತನವಾಗಿರುವುದು ಗಮನಕ್ಕೆ ಬಂದ ತಕ್ಷಣ ಗ್ರಾಹಕರು ಕಾರ್ಡ್ ನೀಡುವ ಬ್ಯಾಂಕ್ ಅನ್ನು ತಕ್ಷಣ ಸಂಪರ್ಕಿಸಬೇಕು ಹಾಗೂ ಕಾರ್ಡ್ ಅನ್ನು ಬ್ಲಾಕ್ ಮಾಡಲು ಬ್ಯಾಂಕ್ಗೆ ವಿನಂತಿಸಿಕೊಳ್ಳಬೆಕು.

Ans. The requirement of KYC documents depends on the modes used for periodic updation of KYC as detailed in the reply to Q 24, above.

1. In case of change in the KYC information, the customer has to provide the documents as mentioned in the reply to Q 5 above;
2. In case of no change in KYC information, the customer can provide a self-declaration. Similarly, a self-declaration in case of change only in address can also be provided by the customer to RE as detailed in reply to Q 24 above.
3. In case of Aadhaar OTP-based e-KYC authentication facility in non-face-to-face mode, the customer can provide a declaration of the current address even if the current address is different from the address in Aadhaar database. However, RE shall ensure that mobile number for Aadhaar authentication is same as the one available with it in the customer’s profile, in order to prevent any fraud.
4. In case of use of V-CIP for completing re-KYC, the requirements shall be as per paragraph 18 of the Master Direction on KYC, which include identification and verification of the identity using (i) Aadhaar OTP based e-KYC authentication in non-face-to-face mode; (ii) offline verification of Aadhaar; (iii) KYC records downloaded from CKYCR; and (iv) equivalent e-documents including documents issued through DigiLocker.

The objective of TReDS is to create Electronic Bill Factoring Exchanges which could electronically accept and settle bills so that MSMEs could encash their receivables without delay. This will not only give them greater access to finance but will also put greater discipline on corporates to pay their dues on time. For more details you may refer to RBI guidelines for setting up and operating TReDS.

ಸುತ್ತೋಲೆಯ ದಿನಾಂಕ ಆಗಸ್ಟ್ 10, 2012ರಿಂದ ಪ್ರಸ್ತುತದ ಎಲ್ಲ 'ನೊ-ಫ್ರಿಲ್ಸ್' ಖಾತೆಗಳನ್ನು ಬಿಎಸ್ಬಿಡಿಎ ಖಾತೆಗಳೆಂದು ಪರಿಗಣಿಸಬಹುದು ಮತ್ತು ಬ್ಯಾಂಕುಗಳು ಸುತ್ತೋಲೆಯಲ್ಲಿ ನಿಗದಿಸಲ್ಪಟ್ಟ, ಎಟಿಎಮ್ ಕಾರ್ಡ್ ಮುಂತಾದ ಸೌಲಭ್ಯಗಳನ್ನು ಪ್ರಸ್ತುತದ 'ನೊ-ಫ್ರಿಲ್ಸ್' ಖಾತೆದಾರರಿಗೆ ಗ್ರಾಹಕರು ಬ್ಯಾಂಕಿಗೆ ಸಂಪರ್ಕಿಸಿದಾಗ ನೀಡಬಹುದು. ಆದರೆ ನಮ್ಮ ಸುತ್ತೋಲೆ ನೀಡಿದ ಬಳಿಕ ಗ್ರಾಹಕರು ತೆರೆದ ಹೊಸ ಖಾತೆಗಳಿಗೆ ನಿಗದಿಸಲ್ಪಟ್ಟ ಸೌಲಭ್ಯಗಳನ್ನು ಖಾತೆ ತೆರೆದ ತತ್ಕ್ಷಣವೇ ನೀಡಬೇಕು.

Ans : The Reserve Bank of India has deregulated the charges to be levied by sponsor banks from user institutions. The sponsor banks are, however, required to disclose the charges in a transparent manner. With effect from 1st July 2011, originating banks are required to pay a nominal charge of 25 paise and 50 paise per transaction to the Clearing house and destination bank respectively. Bank branches do not generally levy processing / service charges for debiting the accounts of customers maintained with them.

Ans. The Reserve Bank, in order to ensure compliance of the provisions of the PSS Act, 2007 and the Regulations made thereunder, can depute an officer authorized by it to enter any premises where a payment system is being operated, inspect any equipment, including any computer system or document, and call upon any employee of the system provider or participant to provide any document or information as required by it (Section 14 of PSS Act, 2007).

A person resident in India is free to make any payment in Indian Rupees towards meeting expenses on account of boarding, lodging and services related thereto or travel to and from and within India of a person resident outside India who is on a visit to India.