Modalities for obtaining payment from clients towards the cost of securities, accrued interest, wherever applicable and commission will have to be worked out by the bank or the PD and clearly stated in the contract made for the purpose with the client.

No. The banks need not charge a uniform rate of interest even under a consortium arrangement. Each member bank should charge rate of interest on the portion of the credit limits extended by them to the borrowers subject to their PLR.

A trade concluded on the NDS-OM Web Module need not be reported again on the PDO-NDS Module.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

Yes. The bonds can be held in demat account. A specific request for the same must be made in the application form itself. Till the process of dematerialization is completed, the bonds will be held in RBI’s books. The facility for conversion to demat will also be available subsequent to allotment of the bond.

Yes. Pledge, hypothecation or lien may be created in respect of Government securities held in the form of SC, BLA, SGL/CSGL and the holder of Government securities in such forms may avail of loan facility by keeping such securities as collateral towards loan, subject to the stipulation mentioned in Question No. 34. However, Government securities issued in the form of GPN and bearer bonds are not eligible for creation of pledge, hypothecation or lien.

An appeal can be filed against the Award or the decision of the RBI Ombudsman rejecting the complaint closed under appealable clauses, within 30 days of the date of receipt of communication of Award or rejection of the complaint. The Appellate Authority, if satisfied that the applicant had sufficient cause for not making an application for appeal within the specified time, may also allow a period of extension not exceeding 30 days.

Ans: Yes, all modes of account opening as mentioned in the reply to Q 13 above, viz. onboarding customer in face-to-face mode; non-face-to-face mode and V-CIP are available to the person with disabilities.

ಉತ್ತರ. ಎರಡು ಪಾಲುದಾರರ ನಡುವೆ, ಒಬ್ಬರನ್ನು ಪಿಪಿಐ ನೀಡಿಕೆದಾರರಗಿ ನೇಮಿಸಲಾಗಿರುವಂತೆ ಅವರು ಸಹ-ಬ್ರ್ಯಾಂಡೆಡ್ ಪಿಪಿಐಗೆ ಸಂಬಂಧಿಸಿದ ಎಲ್ಲಾ ಗ್ರಾಹಕ ಸೇವಾ ಅಂಶಗಳನ್ನು ತಿಳಿಸುವದಕ್ಕಾಗಿ ಜವಾಬ್ದಾರರಾಗಿರುತ್ತಾರೆ.

Yes. Individuals are free to use this Scheme to acquire and hold immovable property, shares or any other asset outside India without prior approval of RBI.

Yes, such requests are considered by the Special Committee on case-to-case basis. Indian companies desirous of making such investment are required to submit an application in form ODB to Reserve Bank for the purpose.

No. The bank or the PD is not permitted to build any other cost, such as funding cost, into the price. In other words, the bank or the PD cannot recover any other cost from the client other than accrued interest as indicated in Q21 and Q23 and commission(Q31)

Banks can offer loans below the PLR rates to exporters or other credit worthy borrowers including public enterprises in accordance with a transparent and objective policy approved by their respective Board of Directors.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

No. The facility to create pledge, hypothecation or lien against Government securities is not available for those loans which, as per the specific Government Loan Notification, are non-transferable or not eligible for collateral to avail of loan facility.

The bonds are tradable from a date to be notified by RBI. (It may be noted that only bonds held in de-mat form with depositories can be traded in stock exchanges) The bonds can also be sold and transferred as per provisions of Government Securities Act, 2006. Partial transfer of bonds is also possible.

The Appellate Authority, after examining the appeal and related documents, may act as given under:

1. dismiss the appeal; or

2. allow the appeal and set aside the Award/order of the RBI Ombudsman; or

3. remand the matter to the RBI Ombudsman for fresh disposal in accordance with such directions as the Appellate Authority may consider necessary or proper; or

4. modify the Award/order and pass such directions as may be necessary to give effect to the order of the RBI Ombudsman or Award so modified; or

5. pass any other order as it may deem fit.

Further, the orders of the Appellate Authority shall have the same effect as the Award passed by the RBI Ombudsman or the order rejecting the complaint, as the case may be.

Ans. REs’ Customer Acceptance Policy shall not result in denial of banking/ financial facility to members of the general public, especially those, who are financially or socially disadvantaged, including the persons with disabilities (PWDs). The decision to reject the application of KYC/ periodic updation of KYC shall not be automated and such decisions on rejection shall be reviewed by an official of RE authorised for the purpose.

The company will have to make an application to the Reserve Bank of India in form ODI along with necessary documents under the Normal Route.

In the event of default, the banks may charge penal interest in the borrowal accounts. Penal rate represents additional interest charged over and above the normal interest rates charged to the borrowers. The penal interest should not be levied on adhoc limits since the limits are generally granted pending regular sanction of loans and the rate of interest thereon should be subject to the maximum spread over PLR. With effect from 10.10.2000, the bank’s boards have been empowered to take decision on whether or not penal interest that should be levied for reasons such as default in repayment, non-submission of financial statements, etc. The policy should be governed by well accepted principles of transparency, fairness, incentive to service the debt and due regard to genuine difficulties of customers.

Yes. Individuals are free to open, hold and maintain foreign currency accounts with a bank outside India for making remittances under the Scheme without the prior approval of RBI. The account can be used for putting through any transaction connected with or arising from remittances under the Scheme.

PDs and banks will furnish information relating to the Scheme to the Reserve Bank of India as and when called for. RBI can also review the guidelines. If and when the guidelines are revised, RBI will notify the modified guidelines.December 15, 2001

ಉತ್ತರ. ಅಥಾರೈಸ್ಡ್ ಡೀಲರ್ ಕೆಟೆಗರಿ-1ರಬ್ಯಾಂಕ್ಗಳು ನೀಡುವ ಕೆವೈಸಿ ಕಂಪ್ಲೈಂಟ್ ಮರುರೊಡ್ ಮಾಡಬಹುದಾದ ಸೆಮಿಕ್ಲೋಸ್ಡ್ ಹಾಗೂ ಓಪನ್ ಸಿಸ್ಟಮ ಪಿಪಿಐಗಳನ್ನು FEMA [ಫೇಮಾ]ಅಡಿಯಲ್ಲಿ ಅನುಮತಿಸುವ ಚಾಲ್ತಿ ಖಾತೆ ವಹಿವಾಟುಗಳಿಗಾಗಿ ಗಡಿಯಾಚೆಗಿನ ಬಾಹ್ಯ ವಹಿವಾಟುಗಳಲ್ಲಿ ಅಂದರೆ ಸರಕುಗಳು ಹಾಗೂ ಹಾಗೂ ಸೇವೆಗಳ ಖರೀದಿಗೆ ಅನುಮತಿ ನೀಡಲಾಗುತ್ತದೆ. ಪಿಪಿಐದಾರರ ಸ್ಪಷ್ಟ ಕೋರಿಕೆಯ ಮೇರೆಗೆ ಮಾತ್ರ ಈ ಸೌಲಭ್ಯವನ್ನು ಸಕ್ರಿಯಗೊಳಿಸಲಾಗುತ್ತದೆ.
ವಹಿವಾಟಿನ ಮಿತಿಗಳು:
ಪ್ರತಿ ವಹಿವಾಟಿನ ಮಿತಿಯು 10,000/-ವನ್ನು ಮೀರಬಾರದು .
ಪ್ರತಿ ತಿಂಗಳದ ಮಿತಿಯು 50,000/-ವನ್ನು ಮೀರಬಾರದು .
ಅವಕಾಶನೀಡಲಾದ ವಹಿವಾಟುಗಳು:
ಫಾರೆನ್ ಎಕ್ಸ್ಚೇಂಜ್ ಮ್ಯಾನೇಜ್ಮೆಂಟ್ ಆ್ಯಕ್ಟ್ [ಎಫ್ಇಎಮ್ಎ]ಅಡಿಯಲ್ಲಿ ಅನುಮತಿಸಲಾದ ಚಾಲ್ತಿ ಖಾತೆ ವಹಿವಾಟುಗಳು ಅಂದರೆ ಸರಕುಗಳ ಹಾಗೂ ಸೇವೆಗಳ ಖರೀದಿಯು,ಅಂತಹ ವಹಿವಾಟುಗಳನ್ನು ನಿಯಂತ್ರಿಸುವ ಹೆಚ್ಚುವರಿ ನಿಯಮಾವಳಿಗಳಿಗೆ ಬದ್ಧವಾಗಿರುವುದಕ್ಕೆ ಒಳಪಟ್ಟಿರುತ್ತದೆ.
ಅವಕಾಶನೀಡದ ವಹಿವಾಟುಗಳು:

1. ಲಿಬರಲೈಸ್ಡ್ ರೆಮಿಟ್ಟೆನ್ಸಸ್ ಸ್ಕೀಮ್ ಅಡಿಯಲ್ಲಿ ಯಾವುದೇ ಗಡಿಯಾಚೆಗಿನ ಬಾಹ್ಯ ಹಣ ವರ್ಗಾವಣೆ ಹಾಗೂ /ಅಥವಾ ಹಣರ್ಗಾವಣೆಗಳನ್ನು ಮಾಡುವುದಕ್ಕಾಗಿ.
2. ಆನ್ಲೈನ್ ವ್ಯಾಪಾರಿ ಖಾತೆಯ ಪ್ರಿಫಂಡಿಂಗ್

Pledge towards Government securities will be created/noted by RBI or its agent, as the case may be, maintaining the account in respect of such security, i.e., in case of SC, BLA & SGL for which the records and accounts are maintained by RBI, the pledge will be noted in the books of RBI while in case of BLAs issued by Agency Banks or securities held in a CSGL account, the pledge will be noted by the concerned Agency Bank or CSGL Account holder respectively.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

The nominee/nominees to the bond may approach the respective Receiving Office with their claim. The claim of the nominee/nominees will be recognized in terms of the provision of the Government Securities Act, 2006 read with Chapter III of Government Securities Regulation, 2007. In the absence of nomination, claim of the executors or administrators of the deceased holder or claim of the holder of the succession certificate (issued under Part X of Indian Succession Act) may be submitted to the Receiving Offices/Depository. It may be noted that the above provisions are applicable in the case of a deceased minor investor also. The title of the bond in such cases too will pass to the person fulfilling the criteria laid down in Government Securities Act, 2006 and not necessarily to the Natural Guardian.

Yes. A complaint can be withdrawn at any stage by the complainant under the Scheme. For withdrawing a complaint, one can log on to the Complaint Management System portal (https://cms.rbi.org.in) and go to the tab “Track a complaint”.

Ans: The provision to accept thumb impression in place of signatures has already been prescribed for onboarding customer in face-to-face-mode under paragraph 16 and 23 of the MD on KYC.

ಉತ್ತರ.

ಅಧಿಕೃತ ಓವರ್ಸೀಸ್ ಪ್ರಿನ್ಸಿಪಾಲ್ [ಒಪಿ]ಯ ಭಾರತೀಯ ಏಜಂಟರಾದ ಬ್ಯಾಂಕ್ಗಳು ಹಾಗೂ ಬ್ಯಾಂಕೇತರ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರುಗಳಿಗೆ, ಆರ್ಬಿಐನ ಮನಿ ಟ್ರಾನ್ಸ್ಫರ್ ಸರ್ವಿಸ್ ಸ್ಕೀಮ್ [ಎಮ್ಟಿಎಸ್ಎಸ್] ಅಡಿಯಲ್ಲಿ ಅಂತರಿಕ ಹಣರವಾನೆಯ ಫಲಾನುಭವಿಗಳಿಗೆ ಕೆವೈಸಿ ಕಂಪ್ಲೈಂಟ್ ನೀಡಲು ಅನುಮತಿ ಇದೆ. ಇದರರ್ಥ ಈ ಚಟುವಟಿಕೆಯನ್ನು ಕೈಗೊಳ್ಳುವ ಘಟಕವು ಅಧಿಕೃತ ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಹಾಗೂ ಎಮ್ಟಿಎಸ್ಎಸ್ [ ಆರ್ಬಿಐನ,ಫಾರೆನ್ ಎಕ್ಸ್ಚೇಂಜ್ ಡಿಪಾರ್ಟ್ಮೆಂಟ್ನಿಂದ ಅಧಿಕೃತ]ಅಡಿಯಲ್ಲಿ ಭಾರತೀಯ ಏಜಂಟ್ ಆಗಿರಬೇಕು.

ವೈಯ್ಯಕ್ತಿಕ ಆಂತರಿಕ ಎಮ್ಟಿಎಸ್ಎಸ್ ಹಣರವಾನೆಗಳಿಂದ 50,000/-ಗಳವರೆಗಿನ ಮೊತ್ತಗಳನ್ನು ಫಲಾನುಭವಿಗಳಿಗೆ ನೀಡಲಾಗುವ ಪಿಪಿಐಗಳಲ್ಲಿ ಲೋಡ್ ಮಾಡಲು ಅಥವಾ ಮರುಲೋಡ್ ಮಾಡಲು ಅನುಮತಿ ನೀಡಲಾಗಿದೆ. 50,000/-ಗಳಿಗಿಂತ ಹೆಚ್ಚಿನ ಯಾವುದೇ ಸಿಂಗಲ್ ವಹಿವಾಟಿನ ಮೊತ್ತವನ್ನು ಬ್ಯಾಂಕ್ ಖಾತೆಗೆ ಕ್ರೆಡಿಟ್ ಮೂಲಕ ಪಾವತಿಸಲಾಗುತ್ತದೆ.

The facility under the Scheme is in addition to those already available under Foreign Exchange Management (Current Account Transactions) Rules, 2000.

Partnership firms engaged in providing professional services, such as chartered accountancy, legal practice and related services, information technology and entertainment software related services and medical and healthcare services are eligible for investment abroad on an automatic basis by filing form ODA with the AD without prior approval of the Reserve Bank up to an amount of US$ 1 million. Partnership firms, which do not conform to the above parameters, are required to obtain specific approval of the Reserve Bank by filing an application in form ODI (to the extent applicable).

Direct housing loans to individuals upto Rs.5 lakhs in rural/semi-urban area and Rs.10 lakhs in urban/metropolitan area and loans upto Rs.50,000/- for repairs to damaged houses by individuals are treated as priority sector advances. The rate of interest will be determined according to size of the credit limit. As such the loans upto Rs.2 lakhs should be charged interest as per size of limit i.e. ‘not exceeding PLR’. Loans above Rs. 2 lakhs and upto Rs. 5 lakhs in rural/semi-urban area or Rs.10 lakhs in urban/metropolitan area should be charged interest subject to PLR and the spread announced by the bank concerned. Loan above Rs.5 lakhs in rural/semi-urban area and above Rs.10 lakhs in urban/metropolitan area will fall under category ‘Other non-priority sector personal loans’ in which case banks are free to determine the rates of interest without reference to PLR.37. Consequent on the deregulation of interest rate on advances over Rs. 2 lakhs with effect from October 18, 1994, how banks will bear DICGC Guarantee fee in respect of priority sector advance?As regards DICGC Guarantee fee, the banks have discretion to absorb or to pass on the guarantee fee to the borrower in case of advances over Rs.25,000/- excluding advances to weaker sections. Banks should bear DICGC guarantee fees in respect of advances upto Rs.25,000/- and all advances to weaker sections.38.Whether banks can charge rate of interest beyond the spread announced by them on advances granted to Non-Banking Finance Companies (NBFCs)?Banks have freedom to charge interest rate beyond the declared 'spread' on advances granted to NBFCs for onlending for consumer credit.39. Whether interest on loans and advances could be charged at varying periods ranging from monthly rests to yearly rests?With effect from April 1, 2002 the interest rates on loans and advances should be charged with monthly rests except in the case of agricultural advances( including short term loans and other allied activities) where the existing practice would continue. However the banks should compound the interest at monthly intervals only from April 1, 2003.40. What rate of interest is chargeable on loans/ advances granted to Staff Member/Staff Co-operative Credit Societies?The interest rate directives on bank advances will not be applicable to loans or advances or other financial accommodation made or provided or renewed by a scheduled bank, inter alia, to its own employees. Where the advances are provided by the bank to co-operative credit societies formed by the bank’s staff members for lending to constituents ( i.e. Staff of the bank ) the interest rate directives of the RBI will not apply to such advances.IV. Advances against shares and debentures41. Whether banks can sanction loans to Trust and Endowments against the security of shares and debentures?No.42. Whether banks can sanction loans against the equity shares of the banking company to its directors?No.43. Whether any ceiling has been stipulated regarding the banks exposure to the capital markets?Thetotalexposure including both fund based and non-fund based, to capital market by a bank in all forms covering direct investment by a bank in equity shares, convertible bonds and debentures and units of equity oriented mutual funds; Advances against shares to individuals for investment in equity shares (including IPOs ), bonds and debentures, units of equity-oriented mutual funds etc and secured and unsecured advances to stockbrokers and guarantees issued on behalf of stockbrokers and market makers should be restricted to 5 % of the outstanding advances as on March 31 of the previous year. (including Commercial Paper). Further, for computing the ceiling on exposure to capital market, direct investment in shares by banks will be calculated at cost price of the shares.44. Whether banks can indulge in short sales of shares?No. Banks are prohibited from making any short sales of share45. Whether banks can invest in their subsidiaries?Banks can invest in their subsidiaries. However, such investments will be outside the purview of 5%of the outstanding advances of the previous year and subject to compliance of Section 19 of the Banking Regulation Act, 1949.46. Which of the bills should not be discounted by the banks?The bills covering payment of electricity charges, customs duty, hire purchase/lease rental instalments, sale of securities and other types of financial accommodation should not be discounted by banks.47. Whether banks can invest in Fixed Deposits of non-banking non-financial companies?There is no prohibition on banks' placing of funds with non-banking non-financial companies under their Public Deposit Scheme. However, such investment in the Public Deposit Scheme should be classified by banks as loans/advances in their balance sheet and returns under the Banking Regulation Act, 1949 and fortnightly returns by scheduled commercial banks under Reserve Bank of India Act , 1934.48. Whether banks can purchase letter of allotment in respect of PSU Bonds?Banks can purchase letter of allotment in respect of PSU bonds subject to following conditions.1. The transaction (other than inter bank transaction) should be undertaken only through recognised Stock Exchanges and registered brokers.2. While purchasing the security, the bank should ensure that it gets a clear title to the security and the security is traded in the secondary market.The bank should formulate their own internal guidelines with the approval of the Board for undertaking such transaction.49. What should be the method of valuation for advances against shares/debentures /bonds?Shares/debentures/bonds should be valued at prevailing market prices when they are lodged as security for advances.50. Whether the banks can sanction bridge loans to companies?Yes. For a period not exceeding one year against the expected equity flows/issues as also against the expected proceeds of Non-convertible Debentures, External Commercial Borrowings, Global Depository Receipts and/or funds in the nature of Foreign Direct Investments, provided the bank is satisfied that the borrowing company has made firm arrangements for raising the aforesaid resources/funds. Such loans are required to be accommodated within the ceiling of 5% of outstanding advances of the previous year.51. What is the quantum of loans to individuals against security of shares, debentures and PSU bonds if held in physical form and in dematerialized form?The loans to individuals against the security of shares, debentures and PSU bonds if held in physical form should not exceed the limit of Rs.10 lakhs per borrower and Rs.20 lakhs if the securities are held in dematerialized form. The maximum amount of finance that can be granted to an individual for IPOs is Rs.10 lakh. The corporates should not be extended finance for investment in other companies’ IPOs and NBFCs should not be provided finance for further lending to individuals for IPOs. Finance extended by a bank for IPOs should be reckoned as an exposure to capital market.52. What is the margin stipulated for advances against shares held in physical form and dematerialized form?A uniform margin of 40% has been stipulated for all advances against shares.V. Donations53. Whether banks can make donations?Yes, the profit making banks can make donations during a financial year, aggregating upto one per cent of the published profit of the bank for previous year inclusive of donations made earlier under exempted category and donations to National funds and other funds. Banks should not make donations in excess of prescribed ceiling of one per cent as stated above. Unutilised amount of the permissible limit in a year should not be carried forward to the next year for the purpose of making donations.54. Whether loss-making banks can make donations?Yes, loss making banks can make donations totaling Rs.5 lakhs only in a financial year.55. Whether overseas branches of the banks can make donations abroad?Yes, the overseas branches of the banks can make donations abroad, provided the banks do not exceed the prescribed ceiling of one per cent of their published profit of the previous year.VI. Premises Loan56. What are the norms and procedure laid down by RBI for acquisition of accommodation on lease/rental basis by commercial banks for their use i.e. for office and residence of staff?i) Boards of Directors of the banks should lay down policy and formulate detailed operational guidelines separately in respect of metropolitan, urban, semi-urban and rural areas covering all areas in respect of acquiring premises on lease/rental basis for the bank's use including delegation of powers at various levels. The decision of surrender or shifting of premises other than at rural centres is taken at central office level by a committee of senior executives.ii) Banks' Boards should lay down a separate policy in respect of loans granted to landlords who provide to them premises on lease/rental basis. The rate of interest to be charged on such loans should be fixed as per the lending rate directives issued by RBI with minimum PLR for the loans above Rs. 2 lakhs. The rate of interest may be simple rate or compound rate as per the usual practice of the bank as applicable to other term loans.iii) Banks should evolve a suitable machinery for dealing with genuine grievances of the landlord for expeditious disposal.iv) In case of negotiated contracts in respect of advances to landlords and rental (including taxes etc. and deposits of Rs.25 lakhs and above) in respect of premises taken on lease/rental basis by public sector banks, the cases will be reported to Central Bureau of Investigation as per the extant Government instructions. This requirement is not applicable to banks in the private sector.VII Service charges57. Are there any limit prescribed by the RBI on service charges to be levied by the banks?The banks have been given the freedom to determine the service charges to be levied from their customers and the RBI has not prescribed any ceilings in this regard.

An investor in Government securities, held in the form of SC, BLA and SGL/CSGL, can avail of the facility of automatic redemption, i.e., the maturity proceeds along with the interest accruing thereon will be credited to the investor's bank account on due date and the investor need not submit physical discharge in respect of such securities provided the investor has furnished his/her bank account details to the RBI or its agent (A model format is given at the end of these FAQs). However, in case, the investor does not submit his/her bank details to the RBI or the Agency Bank, he/she would be required to submit physical discharge towards the Government securities to receive the redemption proceeds.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

Yes, part holdings can be redeemed in multiples of one gm.

The Scheme is available at the following link https://rbi.org.in/documents/87730/39016390/RBIOS2021_amendments05082022.pdf.

Ans. Inoperative Account is a savings/ current account wherein no ‘customer induced transactions’ has taken place for a period of over two years. For activation of inoperative accounts, the customer can update his/ her KYC information/ data at home/ non-home branch of the RE, and also through V-CIP, subject to the facility of V-CIP being provided by the bank. The banks shall activate the inoperative accounts, only after adhering to the KYC guidelines provided in the Master Direction on KYC.

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¹ Inoperative Account is defined in the circular DOR.SOG (LEG).REC/64/09.08.024/2023-24 dated January 1, 2024 on Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions

 

ಉತ್ತರ. ಇಲ್ಲ, ಪಿಪಿಐಗಳಲ್ಲಿ ಹಣವನ್ನು ಲೋಡ್ ಮಾಡಿದಾಗ ಕ್ರೆಡಿಟ್ ವಿಭಜನೆಯನ್ನು ಅನುಮತಿಸಲಾಗುವುದಿಲ್ಲ. ವಹಿವಾಟಿನ ಮೊತ್ತವು 50,000ಕ್ಕಿಂತ ಹೆಚ್ಚಿರುವುದರಿಂದ, ಸಂಪೂರ್ಣ ಮೊತ್ತವನ್ನು ಬ್ಯಾಂಕ್ ಖಾತೆಗೆ ಜಮಾ ಮಾಡಬೇಕಾಗುತ್ತದೆ.

The investing firm will have to be the member of the respective all-India professional organisation / body and the investment amount should not exceed US$ 1 million. or its equivalent in one financial year.

Remittance cannot be made directly or indirectly to Bhutan, Nepal, Mauritius or Pakistan. The facility is also not available for making remittances directly or indirectly to countries identified by the Financial Action Task Force (FATF) as ‘non-co-operative Countries or Territories' viz., Cook Islands, Egypt, Guatemala, Indonesia, Myanmar, Nauru, Nigeria, Phillippines and Ukraine. Further, remittance under the facility cannot be made to individuals and entities identified as posing significant risk or committing acts of terrorism as advised to banks by RBI from time to time.

As regards DICGC Guarantee fee, the banks have discretion to absorb or to pass on the guarantee fee to the borrower in case of advances over Rs.25,000/- excluding advances to weaker sections. Banks should bear DICGC guarantee fees in respect of advances upto Rs.25,000/- and all advances to weaker sections.

Yes.  In case the maturity proceeds of a Government security exceeds Rupees One lakh,  the investor(s) should furnish the PAN details in advance so as to avail the facility of automatic redemption and receive the maturity proceeds along with the accruing interest thereon in his/her account on due date.

A dedicated e-mail has been created by the Reserve Bank of India to receive queries from members of public on Sovereign Gold Bonds. Investors can mail their queries to this email id.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

Yes. Complainants can log on to RBI’s CMS portal (https://cms.rbi.org.in) and can share their feedback under the tab “Feedback”. This feedback is analyzed at RBI for further improving the grievance redress under RB-IOS, 2021.

Ans: To ease the process of activating the ‘Inoperative Accounts’, a bank shall make available the facility of updation of KYC at all branches of the bank, through Video-Customer Identification Process (V-CIP) if requested by a account holder, subject to the facility of V-CIP being provided by the bank.

ಉತ್ತರ. ಪಿಪಿಐಅನ್ನು ಬಳಸಿಕೊಂಡು ಪ್ರತಿ ಕ್ರಮವಾಗಿ ಬರುವ ಪಾವತಿ ವಹಿವಾಟನ್ನು ಸ್ಪಷ್ಟ ಗ್ರಾಹಕರ ಒಪ್ಪಿಗೆಯಿಂದ ದೃಢೀಕರಿಸಬೇಕಾಗುತ್ತದೆ. ಅಂತೆಯೇ , ಕಾರ್ಡ್ಗಳ ರೂಪದಲ್ಲಿ ನೀಡಲಾಗುವ ಪಿಪಿಐಗಳು [ಭೌತಿಕ ಅಥವಾ ವಾಸ್ತವಿಕ] ಪಿಪಿಐ-ಎಮ್ಟಿಎಸ್ ಅಡಿಯಲ್ಲಿ ನೀಡಲಾಗಿರುವ ಪಿಪಿಐಗಳನ್ನು ಹೊರತುಪಡಿಸಿ , ಡೆಬಿಟ್ ಕಾರ್ಡ್ಗಳಿಗಾಗಿ ಅಗತ್ಯವಿರುವಂತೆ ಆ್ಯಡಿಶನಲ್ ಫ್ಯಾಕ್ಟರ್ ಆಫ್ ಆಥೆಂಟಿಕೇಶನ [ಎಎಫ್ಎ]ಅನ್ನು ಹೊಂದಿರುವುದು ಅವಶ್ಯವಾಗಿರುತ್ತದೆ

A partnership firm which fulfills the conditions stipulated under the automatic route may make the investment without prior approval and submit a report containing the following details through an authorised dealer with in 30 days of making such investments –Name and full address and registration of partnership.Full details of investment abroad.Date and amount of remittance/amount of capitalisation of fees/other entitlements due.Name and address of the foreign concern together with its line of activities.Identification number (if already allotted by the Reserve Bank)

The individual will have to designate a branch of an AD through which all the remittances under the Scheme will be made. He has to furnish an application-cum-declaration in the specified format regarding the purpose of the remittance and declare that the funds belong to him and will not be used for purposes prohibited or regulated under the Scheme.