FAQ Page 1 - आरबीआय - Reserve Bank of India
Government Securities Market in India – A Primer
Delivery versus Payment (DvP) is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously. This ensures that unless the funds are paid, the securities are not delivered and vice versa. DvP settlement eliminates the settlement risk in transactions. There are three types of DvP settlements, viz., DvP I, II and III which are explained below:
Delivery versus Payment (DvP) is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously. This ensures that unless the funds are paid, the securities are not delivered and vice versa. DvP settlement eliminates the settlement risk in transactions. There are three types of DvP settlements, viz., DvP I, II and III which are explained below:
i. DvP I – The securities and funds legs of the transactions are settled on a gross basis, that is, the settlements occur transaction by transaction without netting the payables and receivables of the participant.
ii. DvP II – In this method, the securities are settled on gross basis whereas the funds are settled on a net basis, that is, the funds payable and receivable of all transactions of a party are netted to arrive at the final payable or receivable position which is settled.
iii. DvP III – In this method, both the securities and the funds legs are settled on a net basis and only the final net position of all transactions undertaken by a participant is settled.
Liquidity requirement in a gross mode is higher than that of a net mode since the payables and receivables are set off against each other in the net mode.
Retail Direct Scheme
Know Your Customer (KYC) related queries
Housing Loans
REVERSE MORTGAGE LOAN
The scheme of reverse mortgage has been introduced recently for the benefit of senior citizens owning a house but having inadequate income to meet their needs. Some important features of reverse mortgage are:
- A homeowner who is above 60 years of age is eligible for reverse mortgage loan. It allows him to turn the equity in his home into one lump sum or periodic payments mutually agreed by the borrower and the banker.
- The property should be clear from encumbrances and should have clear title of the borrower.
- NO REPAYMENT is required as long as the borrower lives, Borrower should pay all taxes relating to the house and maintain the property as his primary residence.
- The amount of loan is based on several factors: borrower’s age, value of the property, current interest rates and the specific plan chosen. Generally speaking, the higher the age, higher the value of the home, the more money is available.
- The valuation of the residential property is done at periodic intervals and it shall be clearly specified to the borrowers upfront. The banks shall have the option to revise the periodic / lump sum amount at such frequency or intervals based on revaluation of property.
- Married couples will be eligible as joint borrowers for financial assistance. In such a case, the age criteria for the couple would be at the discretion of the lending institution, subject to at least one of them being above 60 years of age.
- The loan shall become due and payable only when the last surviving borrower dies or would like to sell the home, or permanently moves out.
- On death of the home owner, the legal heirs have the choice of keeping or selling the house. If they decide to sell the house, the proceeds of the sale would be used to repay the mortgage, with the remainder going to the heirs.
- As per the scheme formulated by National Housing Bank (NHB), the maximum period of the loan period is 15 years. The residual life of the property should be at least 20 years. Where the borrower lives longer than 15 years, periodic payments will not be made by lender. However, the borrower can continue to occupy.
- From FY 2008-09, the lump sum amount or periodic payments received on reverse mortgage loan will not attract income tax or capital gains tax.
Note- Reverse mortgage is a fixed interest discounted product in reverse. It does not take into account the changes in interest rates as yet.
Important – This part is fine printed to help you practice reading the fine print. The loan agreement documentation runs into nearly 50 pages and its language is complex. If you thought everyone signs the same agreements with the bank, where is the need to read? You are not taking an informed decision. If you thought somebody would have pointed this to me if there was any problem, then maybe they did but you could not read or listen to it. Think again! Borrowers' and lenders' rights may not be expressed clearly in a transparent manner in all the loan agreements. The home loan agreement may not be provided to you in advance so that this could be read and understood before you sign the agreement. Every method may be used to delay handing over a copy to the borrower in sufficient time. Some areas you may focus are a) check the “reset clause” incorporated by some banks in their home loan agreements that allows them to change the interest rate in the future, even on fixed rate loans. Banks may set their reset clauses for 3 or 2 year intervals. They say a lender cannot have an agreement that a fixed rate is set for the entire tenure of 15 to 20 years as this will cause an asset-liability mismatch. Talk to your bank. b) Please seek clarifications on the term “exceptional circumstances” (if stated in the loan agreement) under which loan rates can be unilaterally changed by your bank. c) A common person thinks that default ideally means non-payment of one or more loan installments. In some loan documentation it can include divorce and death (in individual case) and even involvement in civil litigation or criminal offence. d) Does the loan agreement say that disbursement of the loan may be made directly to the builder or developer and in the case of a ready-built property to the vendor thereof and/or in such other manner as may be decided solely by bank? It is the borrower whose original property papers are retained with the bank, so why disburse to the builder. Possession of property has been delayed in some cases when the cheque was issued in the name of the builder and the builder refused to pay delay penalty to the borrower e) Does the agreement enable assignment of your loan to a third party? You take into account reputation and credibility of the bank before entering into a loan agreement with it. Are you comfortable with third party takes over or should you also be allowed to move your home loan from one bank to another in that case? Look for ambiguous clauses and discuss with the banker. Some agreements say changes in employment etc. have to be informed well in advance without quantifying the term “well in advance”. f) In one case the loan documentation says “issuance of pre-approval letter should not be construed as a commitment by the bank to grant the housing loan and processing fees is not re-fundable even if the home loan is not processed”. This is never ending it seems. The above are only indicative instances of what has been observed / reported/ indicated by various sources. However, our main objective was to get you into the habit of reading the fine print. If you have read this, you would have understood the importance of reading fine print in any document and we have achieved our objective. I only wish I could have made the print smaller as in the real cases.
Indian Currency
B) Banknotes
In terms of Section 25 of the RBI Act, the design, form and material of bank notes shall be such as may be approved by the Central Government after consideration of the recommendations made by Central Board.
Core Investment Companies
Core Investment Companies (CICs)
Ans: No, CICs/ CICs-ND-SI cannot accept deposits. That is one of the eligibility criteria.
All you wanted to know about NBFCs
B. Entities Regulated by RBI and applicable regulations
-
NBS-1 Quarterly Returns on deposits in First Schedule.
-
NBS-2 Quarterly return on Prudential Norms is required to be submitted by NBFC accepting public deposits.
-
NBS-3 Quarterly return on Liquid Assets by deposit taking NBFC.
-
NBS-4 Annual return of critical parameters by a rejected company holding public deposits. (NBS-5 stands withdrawn as submission of NBS 1 has been made quarterly.)
-
NBS-6 Monthly return on exposure to capital market by deposit taking NBFC with total assets of ₹ 100 crore and above.
-
Half-yearly ALM return by NBFC holding public deposits of more than ₹ 20 crore or asset size of more than ₹ 100 crore
-
Audited Balance sheet and Auditor’s Report by NBFC accepting public deposits.
-
Branch Info Return.
B. Returns to be submitted by NBFCs-ND-SI
-
NBS-7 A Quarterly statement of capital funds, risk weighted assets, risk asset ratio etc., for NBFC-ND-SI.
-
Monthly Return on Important Financial Parameters of NBFCs-ND-SI.
-
ALM returns:
(i) Statement of short term dynamic liquidity in format ALM [NBS-ALM1] -Monthly,
(ii) Statement of structural liquidity in format ALM [NBS-ALM2] Half yearly,
(iii) Statement of Interest Rate Sensitivity in format ALM -[NBS-ALM3], Half yearly -
Branch Info return
C. Quarterly return on important financial parameters of non deposit taking NBFCs having assets of more than ₹ 50 crore and above but less than ₹ 100 crore
Basic information like name of the company, address, NOF, profit / loss during the last three years has to be submitted quarterly by non-deposit taking NBFCs with asset size between ₹ 50 crore and ₹ 100 crore.
There are other generic reports to be submitted by all NBFCs as elaborated in Master Circular on Returns to be submitted by NBFCs as available on www.rbi.org.in → Notifications → Master Circulars → Non-banking and Circular DNBS (IT) CC.No.02/24.01.191/2015-16 dated July 9, 2015 as available on www.rbi.org.in → Notifications.
Foreign Investment in India
FAQs on Non-Banking Financial Companies
Inter-corporate deposits (ICDs)
Annual Return on Foreign Liabilities and Assets (FLA) under FEMA 1999
Procedure for submission of the FLA return
Ans: An AIF needs to register on the FLAIR portal. Since there is no provision for online filing of FLA return for AIF in the prescribed format as of now, they need to send a mail requesting for the latest format for filing of FLA Return for AIF after completing registration process on the portal. Thereafter FLA Team will send the excel based format for filling FLA return by AIF via mail to them. They need to fill the excel format and send us the same on email. Email based acknowledgement form will be sent to them by FLA Team on receiving the filled-in FLA form.
Government Securities Market in India – A Primer
Biennial survey on Foreign Collaboration in Indian Industry (FCS)
Some other important points to be noted
Ans.: Please refer to the below table containing the error codes (Fatal error, non-Fatal error) with their descriptions. If you get an acknowledgment of the processed data with any Fatal error codes, then follow the below-mentioned fatal error message/description and revise your data and resubmit it on fcs@rbi.org.in. If you get an acknowledgment of the processed data with any Non-fatal error codes then give justification/clarification on the errors, by sending the same to fcsquery@rbi.org.in.
Sr. No. | Revised- Rejection Criteria | Revised - Error Message/descriptions | Error Code |
Fatal Error | |||
1 | When the year is left blank | The year cannot be left blank. Please specify the reference year and fill the return. | FCS_F_001 |
2 | When the survey year is incorrect | Survey year should be the subsequent survey after the latest closed survey year in the system. Please specify the correct Survey year | FCS_F_001 |
3 | When survey year is null | The survey year cannot be NULL. Please specify the survey year and fill the return. | FCS_F_001 |
4 | When survey year is incorrect | Please specify proper survey year, please fill the form for the survey year | FCS_F_001 |
5 | When survey year is invalid | The year for which the information is pertaining, is invalid survey year. Please mention the reference year for which the return is filled | FCS_F_001 |
6 | When survey year is closed | FCS survey for {year} is closed | FCS_F_001 |
5 | When name of company not provided | Name of company is not provided. Please provide the name of company. | FCS_F_002 |
6 | When CIN Number is not given | CIN number is not provided. Please provide CIN number of the company. | FCS_F_003 |
7 | When telephone number is not given | Please provide the telephone number of contact person. | FCS_F_004 |
8 | When email id is not given | Please provide the email id of the contact person. | FCS_F_005 |
Non-Fatal Error | |||
1 | When type of organization is not given | Please provide the type of organization. | FCS_NF_001 |
2 | Identification of the Reporting company when it is not given | Please specify the Identification of the Reporting company. | FCS_NF_002 |
3 | When economic activity is not given | Please provide the economic activity. | FCS_NF_003 |
4 | Please provide details for country name / equity share. | Please provide details for country name / equity share. | FCS_NF_008 |
5 | When provide details for country name / loan details is not given | Please provide details for country name / loan details. | FCS_NF_009 |
6 | When provide details for country name / amount details is not given | Please provide details for country name / amount details. | FCS_NF_011 |
7 | When the total equity capital of organization is not given | Please provide the total equity capital of the organization. | FCS_NF_004 |
8 | When foreign participation in equity capital cannot be more than total equity capital. | The foreign participation in equity capital cannot be more than total equity capital. | FCS_NF_005_PY |
9 | When foreign participation in equity capital cannot be more than total equity capital. | The foreign participation in equity capital cannot be more than total equity capital. | FCS_NF_005_CY |
10 | When foreign participation in equity capital cannot be more than total equity capital. | The foreign participation in equity capital cannot be more than total equity capital. | FCS_NF_005 |
11 | When Field 2: (2a) cannot be blank for both the years as company is foreign subsidiary. | Field 2: (2a) cannot be blank for both the years as company is foreign subsidiary. | FCS_NF_006 |
12 | When Field 2 cannot be blank for both the years as company is foreign associate. | Field 2 cannot be blank for both the years as company is foreign associate. | FCS_NF_007 |
13 | In part II, block 7, Total value of imports (7.1) cannot be less than sum of imports from foreign parent/associate/collaborator (7.1.1) and imports under collaboration arrangement (7.1.2). | In part II, block 7, Total value of imports (7.1) cannot be less than sum of imports from foreign parent/associate/collaborator (7.1.1) and imports under collaboration arrangement (7.1.2). | FCS_NF_012_PY |
14 | In part II, block 7, Total value of imports (7.1) cannot be less than sum of imports from foreign parent/associate/collaborator (7.1.1) and imports under collaboration arrangement (7.1.2). | In part II, block 7, Total value of imports (7.1) cannot be less than sum of imports from foreign parent/associate/collaborator (7.1.1) and imports under collaboration arrangement (7.1.2). | FCS_NF_012_CY |
15 | In part II, block 7, Total value of imports (7.1) cannot be less than sum of imports from foreign parent/associate/collaborator (7.1.1) and imports under collaboration arrangement (7.1.2). | In part II, block 7, Total value of imports (7.1) cannot be less than sum of imports from foreign parent/associate/collaborator (7.1.1) and imports under collaboration arrangement (7.1.2). | FCS_NF_012 |
16 | In part II, block 7, Exports of goods (7.2.1) cannot be less than sum of export of goods produced under foreign collaboration agreements (7.2.1.1) and exports to/on behalf of/through foreign collaborator/associate (7.2.1.2). | In part II, block 7, Exports of goods (7.2.1) cannot be less than sum of export of goods produced under foreign collaboration agreements (7.2.1.1) and exports to/on behalf of/through foreign collaborator/associate (7.2.1.2). | FCS_NF_013_PY |
17 | In part II, block 7, Exports of goods (7.2.1) cannot be less than sum of export of goods produced under foreign collaboration agreements (7.2.1.1) and exports to/on behalf of/through foreign collaborator/associate (7.2.1.2). | In part II, block 7, Exports of goods (7.2.1) cannot be less than sum of export of goods produced under foreign collaboration agreements (7.2.1.1) and exports to/on behalf of/through foreign collaborator/associate (7.2.1.2). | FCS_NF_013_CY |
18 | In part II, block 7, Exports of goods (7.2.1) cannot be less than sum of export of goods produced under foreign collaboration agreements (7.2.1.1) and exports to/on behalf of/through foreign collaborator/associate (7.2.1.2). | In part II, block 7, Exports of goods (7.2.1) cannot be less than sum of export of goods produced under foreign collaboration agreements (7.2.1.1) and exports to/on behalf of/through foreign collaborator/associate (7.2.1.2). | FCS_NF_013 |
19 | In part II, block 7, Export of services and other foreign exchange earnings (7.2.2) cannot be less than exports to foreign collaborator/associate (7.2.2.1). | In part II, block 7, Export of services and other foreign exchange earnings (7.2.2) cannot be less than exports to foreign collaborator/associate (7.2.2.1). | FCS_NF_014_PY |
20 | In part II, block 7, Export of services and other foreign exchange earnings (7.2.2) cannot be less than exports to foreign collaborator/associate (7.2.2.1). | In part II, block 7, Export of services and other foreign exchange earnings (7.2.2) cannot be less than exports to foreign collaborator/associate (7.2.2.1). | FCS_NF_014_CY |
21 | In part II, block 7, Export of services and other foreign exchange earnings (7.2.2) cannot be less than exports to foreign collaborator/associate (7.2.2.1). | In part II, block 7, Export of services and other foreign exchange earnings (7.2.2) cannot be less than exports to foreign collaborator/associate (7.2.2.1). | FCS_NF_014 |
22 | In part II, block 7, Total value of export on f. o. b. basis (7.2) cannot be less than sum of export of goods (7.2.1) and export of services and other foreign exchange earnings (7.2.2). | In part II, block 7, Total value of export on f. o. b. basis (7.2) cannot be less than sum of export of goods (7.2.1) and export of services and other foreign exchange earnings (7.2.2). | FCS_NF_015_PY |
23 | In part II, block 7, Total value of export on f. o. b. basis (7.2) cannot be less than sum of export of goods (7.2.1) and export of services and other foreign exchange earnings (7.2.2). | In part II, block 7, Total value of export on f. o. b. basis (7.2) cannot be less than sum of export of goods (7.2.1) and export of services and other foreign exchange earnings (7.2.2). | FCS_NF_015_CY |
24 | In part II, block 7, Total value of export on f. o. b. basis (7.2) cannot be less than sum of export of goods (7.2.1) and export of services and other foreign exchange earnings (7.2.2). | In part II, block 7, Total value of export on f. o. b. basis (7.2) cannot be less than sum of export of goods (7.2.1) and export of services and other foreign exchange earnings (7.2.2). | FCS_NF_015 |
25 | when company has foreign technical collaboration agreements, please provide the number of agreements. | Since your company has foreign technical collaboration agreements, please provide the number of agreements. | FCS_NF_016 |
26 | agreement details by providing information on all fields need to be filled | Please provide the agreement details by providing information on all fields. | FCS_NF_017 |
27 | Incomplete information. Please provide the agreement details for all the foreign technical collaboration agreements mentioned in field 11(b). | Incomplete information. Please provide the agreement details for all the foreign technical collaboration agreements mentioned in field 11(b). | FCS_NF_018 |
Business restrictions imposed on Paytm Payments Bank Limited vide Press Releases dated January 31 and February 16, 2024
National Common Mobility Card (NCMC) issued by Paytm Payments Bank
Coordinated Portfolio Investment Survey – India
Some important definitions and concepts
Ans: Debt securities are negotiable instruments serving as evidence of a debt. They include bills, bonds, notes, negotiable certificates of deposit, commercial paper, debentures, asset-backed securities, money market instruments, and similar instruments normally traded in the financial markets.
External Commercial Borrowings (ECB) and Trade Credits
F. LEVERAGE CRITERIA AND BORROWING LIMIT
Retail Direct Scheme
Know Your Customer (KYC) related queries
Domestic Deposits
II. Deposits of Non-Residents Indians (NRIs)
Housing Loans
REVERSE MORTGAGE LOAN
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.
Indian Currency
B) Banknotes
The volume and value of banknotes to be printed in a year depends on various factors such as (i) the expected increase in Notes in Circulation (NIC) to meet the growing needs of the public and (ii) the need for replacing soiled/mutilated notes so as to ensure that only good quality notes are in circulation. The expected increase in NIC is estimated using statistical models which consider macro-economic factors such as expected growth in GDP, inflation, interest rates, growth in non-cash modes of payment etc. The replacement requirement depends on the volume of notes already in circulation and the average life of banknotes. The Reserve Bank estimates the volume and value of notes to be printed in a year based on the above factors as well as feedback received from its own Regional Offices and banks regarding expected demand for cash and finalises the same in consultation with the Government of India and the printing presses.
Core Investment Companies
Core Investment Companies (CICs)
Ans: Public funds are not the same as public deposits. Public funds include public deposits, inter-corporate deposits, bank finance and all funds received whether directly or indirectly from outside sources such as funds raised by issue of Commercial Papers, debentures etc. However, even though public funds include public deposits in the general course, it may be noted that CICs/CICs-ND-SI cannot accept public deposits.