Yes.  The title to Government security can now be recognised not only on the basis of a Succession Certificate issued under Part X of the Indian Succession Act, 1925 but also on the basis of a decree, order or direction passed by a competent court or on the basis of a certificate issued or order passed by any other authority who might have been empowered under any statute to confer on any such person a title to the Government security. Further, the title to Government security of deceased sole or joint holders may also be recognized by the RBI/Agency Banks on the basis of any one of the following six documents as prescribed in the G S Regulations.

1. a “Will” executed by the deceased holder of the Government security bequeathing thereby the security in favour of the person claiming title thereto, provided the probate issued in respect of such Will has been submitted to the Bank by the claimant; or

2. a registered deed of family settlement, wherein the Government security claimed has been included and given to the claimant; or

3. a gift deed executed in accordance with the law relating thereto, in respect of the Government security claimed; or

4. a deed of relinquishment executed by other legal heir or successor of the deceased in accordance with law in favour of the claimant in respect of the Government security claimed; or

5. a decree passed by a foreign court in respect of the Government security claimed, the execution whereof is permissible in accordance with the provisions of Section 44A of the Civil Procedure Code, 1908 (5 of 1908); or

6. a deed of partition executed and acted upon in accordance with law, wherein the Government security claimed has been included and given to the share allotted to the claimant.

At the time of making applications, the Promoters/Promoter Group will have to furnish a road map and methodologies they would adopt to comply with all the requirements of the corporate structure indicated in para 2 (C)(ii) and (iii) of the guidelines and realign the business between the entities to be held under the NOFHC [para 2(C)(iv) of the guidelines] within a period of 18 months. After the ‘in-principle approval’ is accorded by RBI for setting up of the bank, the actual setting up of NOFHC and the bank, re-organization of the Promoter Group entities to bring the regulated financial services entities under the NOFHC as well as realignment of business among the entities under the NOFHC have to be completed within a period of 18 months from the date of in-principle approval or before commencement of banking business, whichever is earlier.

Ans. LRS does not envisage extension of fund and non-fund based facilities by the AD banks to their resident individual customers to facilitate remittances for capital account transactions under LRS.

However, AD banks may extend fund and non-fund based facilities to resident individuals to facilitate current account remittances under the Scheme.

The current facility for deposit / exchange of ₹2000 banknotes at bank branches has been extended by RBI till October 07, 2023.

Ans. For performing any transaction, the customer shall be free to use any of the cards registered with the token requestor app.

If the customer meets the eligibility criteria, produces a valid identification document and remits the application money on time, he/she will receive the allotment.

Ans: Reasonable one-time processing fee can be retained if the customer exits the loan during cooling-off period. This, if applicable, should be disclosed to the customer upfront in KFS. However, the processing fee has to be mandatorily included for the computation of APR.

Ans. In case of non-payment of the amount indicated in the compounding order within 15 days of the order, it will be treated as if the applicant has not made any compounding application to the Reserve Bank and the other provisions of FEMA, 1999 regarding contraventions will apply. Such cases will be referred to the DoE for necessary action.

Ans.: Yes, the number of employee information should be reported as on end - March of the reference year.

The provisions made in the above framework shall be applicable to MSMEs having loan limits up to Rs.25 crore, including accounts under consortium or multiple banking arrangement (MBA).

Ans: Given the cash-like features of e₹, there is no interest payable on the wallet balances.

A complaint can be filed through any of the following methods:

1. Online - on CMS portal of RBI at https://cms.rbi.org.in.

2. Physical complaint (letter/post) in the form as specified in Annexure ‘A’ in the Scheme to “Centralised Receipt and Processing Centre, 4th Floor, Reserve Bank of India, Sector -17, Central Vista, Chandigarh - 160017”.

3. Complaints with full details (please refer to Question 17 below) can be sent by email (crpc@rbi.org.in).

Answer: Balance in SRVA is like foreign exchange inflow converted into INR, hence balance can be used for any permissible current and capital account transaction under the present FEMA framework.

No. The prescribed instructions on penal charges are not applicable in case of rupee/ foreign currency export credit and other foreign currency loans.

उत्तर. होय, व्यवहारांच्या मोफत अनिवार्य संख्येहून अधिक पेटीएमवर व्यवहार केल्यास त्यासाठी ग्राहकांना शुल्क आकारले जाते (वरील प्रश्न ११ ला दिलेल्या उत्तरात नमूद करण्यात आले आहे). परंतु सध्या हे शुल्क त्याच्या/ तिच्या बँकेद्वारा एका व्यवहारासाठी रु. २० (अधिक लागू कर, काही असल्यास) पेक्षा अधिक आकारले जाणार नाही.

Ans. Yes, the RE is required to obtain customer’s explicit consent to use his/ her KYC Identifier for downloading KYC records from CKYCR for the purposes mentioned in reply to Q. 14 and 15.

Response: The jewellery will be melted by the CPTC/GMCTAs to conduct the fire assay and the customer can then get back gold only in post-melted form. Thus, the decision regarding taking back jewellery in the original form must be taken by the customer after XRF test and before giving consent for fire-assaying.

The preliminary scrutiny will be done by FinTech Department of Reserve Bank of India. However, detailed scrutiny will be done by the PR based on its sandbox framework. The PR will also coordinate with ARs to review specific features of your product that fall under their regulatory scope, ensuring a smooth and efficient process.

Before a loan account of a MSME turns into a Non-Performing Asset (NPA), banks or creditors should identify incipient stress in the account by creating three sub-categories under the Special Mention Account (SMA) category as given in the Table below:

SMA Sub-categories	Basis for classification
SMA-0	Principal or interest payment not overdue for more than 30 days but account showing signs of incipient stress
SMA-1	Principal or interest payment overdue between 31-60 days
SMA-2	Principal or interest payment overdue between 61-90 days

उत्तर. पीपीआय धारकाला कोणत्याही वेळी पीपीआय बंद करण्याचा आणि बाकी शिल्लक रक्कम केवायसी आवश्यकता पूर्ण करून त्याच्या/तिच्या बँकेच्या खात्यात हस्तांतरित करण्याचा पर्याय आहे. ज्यात बंद करतानाचे पैसे हस्तांतरित करायचे आहेत अशा खात्याची ‘पीपीआय जारीकर्त्याने योग्य प्रकारे पडताळणी’ केली पाहिजे. बंद करताना पीपीआय धारक पैसे ‘परत स्त्रोतात’ (जेथून पीपीआय लोड करण्यात आले होते तो पैशाचा स्त्रोत) हस्तांतरित करू शकेल.