Ans. The FAQs on “Legal Entity Identifier (LEI) for Large Value Transactions in Centralised Payment Systems” on the RBI website at https://www.rbi.org.in/Scripts/FAQView.aspx?Id=140 can be referred to.

बचत बँक ठेवींच्या अनियमनावरील 25 जानेवारी 2012 रोजीच्या DBOD.Dir.BC.75/13.03.00/2011-12 ह्या परिपत्रकामध्ये समाविष्ट सूचना ‘मूलभूत बचत बँक ठेव खात्या’मध्ये धारण केलेल्या ठेवींना लागू आहेत.

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.

Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.

Ans. The following facilities are available to persons other than individuals:

1. Donations up-to one per cent of their foreign exchange earnings during the previous three financial years or USD 5,000,000, whichever is less, for- (a) creation of Chairs in reputed educational institutes, (b) contribution to funds (not being an investment fund) promoted by educational institutes; and (c) contribution to a technical institution or body or association in the field of activity of the donor Company.

2. Commission, per transaction, to agents abroad for sale of residential flats or commercial plots in India up to USD 25,000 or five percent of the inward remittance whichever is less.

3. Remittances up to USD 10,000,000 per project for any consultancy services in respect of infrastructure projects and USD 1,000,000 per project, for other consultancy services procured from outside India.

4. Remittances up to five per cent of investment brought into India or USD 100,000 whichever is less, by an entity in India by way of reimbursement of pre-incorporation expenses.

5. Remittances up to USD 250,000 per financial year for purposes stipulated under Para 1 of Schedule III to FEM (CAT) Amendment Rules, 2015. However, all residual current account transactions undertaken by such entities are otherwise permissible without any specified limit and are to be disposed off at the level of AD, as hitherto. It is for the AD to satisfy themselves about the genuineness of the transaction.

Anything in excess of above limits requires prior approval of the Reserve Bank of India.

Yes.  A duplicate Government security may be issued if the holding was in the form of SC and GPN. However, no duplicate Government security will be issued for Bearer Bonds/Prize Bonds. Further, no duplicate Government security will be issued in case of matured loans and the redemption proceeds will be paid to the investor after following the procedure for issuing duplicate Government security.

Ans: Currently, there are 14 participants in the wholesale CBDC pilot, which includes banks and non-banks.

On receipt of a complaint, it is scrutinized to assess whether it is a maintainable or a non-maintainable complaint (as explained in Question 14). If found non-maintainable, the complaint is closed, and a suitable communication is issued to the complainant.

For a maintainable complaint, the RBI Ombudsman endeavors to promote resolution by agreement between the complainant and the RE. If an amicable settlement of the complaint is arrived at between the parties, the same is recorded and signed by both the parties. As the parties have agreed to the settlement by affixing their signature on it, it becomes binding on both the parties and no formal Award is issued by the Ombudsman.

If the matter is not resolved through settlement (facilitation or conciliation or mediation) the Ombudsman, after allowing the parties a reasonable opportunity (and based on records placed before him, principles of banking law and practice, directions, instructions and guidelines issued by RBI from time to time and such other factors which in his opinion are relevant for deciding the complaint), may pass an Award (directing the Regulated Entity for specific performance) or reject the complaint (if the RE is found to have adhered to the extant norms and practices in vogue). The outcome of the complaint is communicated to both the complainant and the RE.

Ans.: Yes, it is mandatory. Here the person authorised to fill the form owns the responsibility of information furnished and declares its accuracy including CIN number. It is a final check for all the details which are filled-up in the Part- A to D of ITES survey schedule.

उत्तर. ग्राहकाने त्याचे/ तिचे एटीएम/ डब्ल्यूएलए वरील व्यवहार सुरक्षित ठेवण्यासाठी खालील काय करावे आणि काय करू नये यांचे पालन करावे:

• ग्राहकाने एटीएम/ डब्ल्यूएलए वरील व्यवहार संपूर्ण गुप्तपणे करावेत.
• एका वेळी फक्त एका कार्डधारकांने एटीएम/ डब्ल्यूएलए किओस्क मध्ये प्रवेश करावा.
• कार्डधारकाने त्याचे/तिचे कार्ड कोणालाही उसने देऊ नये.
• कार्डधारकाने कार्डावर पिन लिहू नये.
• कार्डधारकाने कोणालाही पिन देऊ नये.
• एटीएमवर पिन टाकत असताना कार्डधारकाने तो कोणालाही पाहू देऊ नये.
• कार्ड धारकाने सहज अंदाज करता येईल अशा पिनचा कधीही वापर करू नये.
• कार्डधारकांने एटीएम /डब्ल्यूएलए मध्ये कार्ड सोडून जाऊ नये.
• कार्डधारकांने एटीएम /डब्ल्यूएलए वर केलेल्या व्यवहारांचे अलर्टस मिळवण्यासाठी त्याचा/ तिचा मोबाईल नंबर कार्ड जारी करणाऱ्या बँकेकडे नोंदवावा. खात्यामध्ये एखादा अनधिकृत कार्ड व्यवहार झाल्याचे आढळल्यास ताबडतोब त्याची माहिती कार्ड जारी करणाऱ्या बँकेला कळवावी.
• एटीएम /डब्ल्यूएलए ला एखादे अधिक उपकरण लावले आहे का याबद्दल कार्डधारकाने जागरुक असले पाहिजे. ग्राहकांची फसवणूक करून त्याची माहिती गोळा करण्यासाठी असे उपकरण पण लावले जाते, तसे आढळल्यास, सुरक्षा रक्षक/ बँक/डब्ल्यूएलए एनटीटी यांना ताबडतोब त्याची माहिती द्या.
• एटीएम /डब्ल्यूएलए एटीएम /डब्ल्यूएलएच्या आसपास काही संशयास्पद लोकांची हालचाल दिसून आल्यास ग्राहकाने त्यावर लक्ष ठेवले पाहिजे. त्याला/ तिला संभाषणात व्यग्र ठेवण्याचा प्रयत्न करणाऱ्या किंवा एटीएम वापरण्यास मदत/ सहाय्य देऊ करणाऱ्या अनोळखी व्यक्तींपासून त्याने/ तिने सावध असले पाहिजे.
• कार्डधारकाने हे लक्षात ठेवले पाहिजे की बँकेचे अधिकारी कधीही टेलिफोन/ ईमेलवर कार्डाचा तपशील किंवा पिन मागत नाहीत. तेव्हा त्याच्या/तिच्या बँकेचे प्रतिनिधित्व करत असल्याचे दर्शविणाऱ्या व्यक्तीच्या संभाषणास त्याने/तिने प्रतिसाद देऊ नये.

Ans. The modes for periodic updation of KYC for individuals are as under:

1. It can be undertaken at the branch of the RE with which customer maintains the account or any other branch of the same RE; or
2. RE can obtain a self-declaration when there is “no change in KYC information” and also when there is “change only in address details”, through customer’s email-id/ mobile number registered with the RE, ATMs, digital channels (such as online banking / internet banking, mobile application of RE), letter, etc. However, the declared address shall be verified by the RE through positive confirmation within two months; or
3. Aadhaar OTP based e-KYC in non-face-to-face (NF2F) mode and V-CIP;
4. RE is also mandated to update customer’s KYC records based on the update information/ notification, if any, received from CKYCR for the customer concerned.

Ans : No. There is no value limit on the amount of individual transactions that can be collected by ECS Debit.

Ans. Yes, under Section 15 (2) of the PSS Act, the Reserve Bank may disclose any document or information obtained by it to any person to whom the disclosure of such document or information is considered necessary for protecting the integrity, effectiveness or security of the payment system, or in the interest of banking or monetary policy or the operation of the payment systems generally or in the public interest.

• Exclusive series for retail investors would be launched in the second half of the current fiscal year (around October 2013).

No. There is no value limit on the amount of individual transactions that can be collected by ECS Debit.

Taking personal jewellery out of India is governed by Baggage Rules framed under Export-Import Policy by the Government of India. No approval of Reserve Bank is required in this case.

In terms of sub-section 4, of Section (6) of the Foreign Exchange Management Act, 1999, a person resident in India is free to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such person when he was resident outside India or inherited from a person who was resident outside India.

RBI will issue securities only in demat (SGL) form. It will credit the securities to the CSGL account of the bank/PD .

Yes. Whenever the due dates fall on Saturday/Sunday/non-business working day/holidays banks are permitted, to pay interest on NRE and FCNR(B) deposits at the originally contracted rate for the intervening period between the due date and date of payment so that no interest loss is suffered by the depositors.III. Advances