Ans.:  Once the survey is launched, MF companies will receive an email from RBI along with the soft copy of the survey schedule (Schedule-4) in excel format as attachment. The company should use this survey schedule to fill in the details. The filled-in survey schedule (Schedule-4) in excel format (.xls format) should be sent by email to mf@rbi.org.in. No other attachments should be forwarded along with the MF survey schedule.

Ans.: The reference period of an ITES survey round is the immediately preceding financial year (April-March)

Ans: In cases where withdrawal of FMR / removal of name(s) of perpetrator(s) is necessitated due to Court directions, REs may arrange to withdraw FMR / remove name(s) of perpetrator(s) immediately. Such cases shall subsequently be placed before the official in the rank of WTD for information.

उत्तर. बँकांव्यतिरिक्त इतर सस्थांना डब्ल्यूएलए उभारण्यासाठी परवानगी देण्यामागील तर्कसंगती खास करून ग्रामिण भागातील अधिकाधिक ग्राहकांना अधिक सेवा/सुधारित सेवा देण्यासाठी एटीएमचा भौगोलिक विस्तार करणे, अशी आहे.

Answer: The term correspondent banking relationship acts as an intermediary or agent, facilitating wire transfers, conducting business transactions, accepting deposits and gathering documents on behalf of another bank. Correspondent banks are most likely to be used by domestic banks to service transactions that either originate or are completed in foreign countries. Domestic banks also use correspondent banks to gain access to foreign financial markets and to serve international clients without having to open branches abroad.

Ans. No, if an existing KYC compliant customer of an RE desires to open another account or avail any other product/ service from the same RE, he is not required to submit any KYC document unless there is a change in the information with respect to his identity and/ or address.

Answer: Opening of accounts by individuals/ entities of Pakistan nationality/ ownership and entities of Bangladesh ownership requires prior approval of the Reserve Bank.

However, individuals of Bangladesh nationality can open an NRO account subject to the individual(s) holding a valid visa and valid residential permit issued by Foreigner Registration Office (FRO)/ Foreigner Regional Registration Office (FRRO) concerned.

Further, citizens of Bangladesh/Pakistan belonging to minority communities in those countries, namely, Hindus, Sikhs, Buddhists, Jains, Parsis and Christians residing in India and who have been granted Long Term Visa (LTV) or whose application for LTV is under consideration, are permitted to open only one NRO account with an AD bank in India subject to the conditions mentioned in Notification No. FEMA 5(R)/2016-RB dated April 01, 2016, as updated from time to time. The opening of such NRO accounts will be subject to reporting of the details of the accounts opened by the concerned Authorised bank, to the Ministry of Home Affairs (MHA) on a quarterly basis as instructed vide AP (DIR Series) Circular No. 28 dated March 28, 2019.

Priority sector lending include only those sectors as part of the priority sector, that impact large sections of the population, the weaker sections and the sectors which are employment-intensive such as agriculture, and Micro and Small enterprises. Detailed guidelines on Priority sector lending are available in our Master Directions - Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025 dated March 24, 2025 and updated from time to time.

The Inter-operable Regulatory Sandbox (IoRS) provides a common window for innovators to test hybrid financial products/ services falling within the regulatory ambit of more than one financial sector regulator. By eliminating the need to separately engage with different regulators, IoRS simplifies testing processes and fosters innovation in the financial ecosystem.