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

उत्तर. अधिकृत डिलर गट 1 बँकेने जारी केलेल्या केवायसीची पूर्तता करणाऱ्या पुन्हा लोड करता येणाऱ्या सेमी-क्लोजड आणि ओपन सिस्टम पीपीआयचा एफईएमए अंतर्गत म्हणजे वस्तू व सेवांच्या खरेदीसाठी परवानगी प्राप्त करंट अकाउंट मधील व्यवहारांसाठी सीमारेषा पलीकडील बाह्य व्यवहारांसाठी उपयोग करता येईल. पीपीआय धारकाने स्पष्टपणे विनंती केल्यासच फक्त ही सुविधा कार्यान्वित करण्यात येईल.
व्यवहाराच्या मर्यादा:
प्रति व्यवहाराची मर्यादा यापेक्षा जास्त नसेल: रु.१०,०००/-.
दरमहा मर्यादा यापेक्षा जास्त नसेल: रु. ५०,०००/-
परवानगी असलेले व्यवहार:
परदेशी चलन व्यवस्थापन कायदा (एफईएमए) परवानगी प्राप्त करंट अकाउंट व्यवहार म्हणजे वस्तू व सेवांची खरेदी, जे सदर व्यवहारांसाठी असलेल्या सरकारच्या विद्यमान नियमांच्या अधीन आहे.
परवानगी नसलेले व्यवहार

1. कोणत्याही सीमारेषा पलिकडिल आऊटवर्ड (बाह्य) नीधि हस्तांतरण आणि/किंवा लिबरलाईज्ड रेमिटन्सेस योजनेअतर्गत रेमिटन्सेस (पैसे भरण्यासाठी)
2. ऑनलाइन मर्चंट खात्यात पैसे भरणे

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.