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.

SGL or CSGL are a demat form of holding government securities with the RBI. Just as an investor can hold shares in demat form with a depository participant, he can also hold government securities in an account with a bank or a PD. Securities kept on behalf of customers by banks or PDs are kept in a segregated CSGL A/c with the RBI. Thus, if the bank or the PD buys security for his client, it gets credited to the CSGL account of bank or PD with the RBI.

Proposals not covered by the conditions under the automatic route require the prior clearance of the regulatory authority for which a specific application in form ODI is required to be made to the Reserve Bank of India.

• Product structure of the series of IIBs for retail investors is yet to be finalised. It will be finalised in the due course and accordingly, the same would put in the public domain.

Banks are free to fix Prime Lending Rate (PLR) for credit limits over Rs.2 lakhs with the approval of their respective Boards, which should be the minimum rate charged by them for such credit limits. PLR is to be declared and has to be uniformly applicable at all branches. The banks may authorise their Asset-Liability Management Committee (ALCO) to fix interest rates on Deposits and Advances, subject to their reporting to the Board immediately thereafter. The banks should also fix maximum spread over the PLR with the approval of the ALCO/Board for all advances other than consumer credit.

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.

CG and SG match on a price- time priority basis and T Bills Match on a yield-time priority basis. For a bid in CG/SG to match with an offer, the bid price has to be equal to or greater than the offer price. For an offer in CG/SG to match with a bid, the offer price has to be equal to or less than the offer price. In case of T Bills, the bid yield has to be equal to or less than the offer yield and vice versa for offers. At the same price/yield, the order which has come first to the system will get priority.

Ans. मास ट्रान्झिट सिस्टम्सच्या पीपीआयची (पीपीआय-एमटीएस) प्रमुख वैशिष्ट्ये खालील प्रमाणे आहेतः

1. मास ट्रान्झिट सिस्टम ऑपरेर्ट्सद्वारा जारी केलेली हे सेमी-क्लोज्ड पीपीआयज आहेत.
2. मास ट्रान्झिट सिस्टम व्यतिरिक्त, अशा पीपीआय-एमटीएसचा उपयोग ज्यांचे कामकाज विविध प्रकारचे आहे / ट्रान्झिट यंत्रणेच्या वास्तूशी संबंधित आहे किंवा त्यात केले जाते अशा मर्चन्टसच्या ठिकाणीच फक्त करता येईल.
3. त्यांचे स्वरूप पुन्हा लोड करता येणारे आहे.
4. कोणत्याही वेळी कमाल थकबाकी रू. ३,०००/- मर्यादेपेक्षा जास्त होता कामा नये.
5. कॅश-आऊट किंवा परतावा किंवा निधी हस्तांतरणाची परवानगी नाही.
6. जारीकर्त्याच्या मंडळाने मंजूर केलेल्या धोरणानुसार त्याची मुदत पुन्हा वाढविता येईल (नवीन इन्स्ट्रमेंट जारी करण्यासह)
7. सदर पीपीआयजचा उपयोग करून केलेल्या व्यवहारासाठी एएफएची गरज नाही.

Response

All the existing 'No-Frill' accounts may be treated as BSBDA accounts from the date of the circular i.e., August 22, 2012 and banks may offer the prescribed facilities as per the circular such as issuing ATM card etc., to the existing ‘No-Frill’ account holders as and when the customer approaches the bank. However, for customers opening new accounts after the issue of our circular should be provided with the prescribed facilities immediately on opening of the account.