Ans: e₹ can be held and transacted through e₹ wallets offered by banks and non-banks for person-to-person payments or person-to-merchant transactions. One can start using the e₹ wallet by downloading the e₹ app from the Play Store or the App Store and by following the App instructions. Detailed instructions on using the e₹ wallet can be checked with the banks and non-banks providing the wallet. Payments to merchants can be made by scanning either the CBDC QR code or the UPI QR code available at the respective merchant location.

Ans. Yes, KYC is mandatorily required to be carried out:

1. at the time of commencement of an account-based relationship, i.e., opening any type of account with the RE; or
2. when a walk-in-customer carries out occasional transaction of an amount equal to or exceeding ₹50,000 (whether conducted as a single transaction or several transactions that appear to be connected); or
3. when a walk-in-customer carries out any international money transfer operations; or
4. when the RE has a doubt about the authenticity or adequacy of the customer identification data it has obtained; or
5. when the RE sells its own products or third party products as an agent; payment of dues of credit cards/ sale and reloading of prepaid/ travel cards and any other product for more than ₹50,000.

Response: Resident Indians [Individuals, HUFs, Proprietorship & Partnership firms, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations, Companies, charitable institutions, Central Government, State Government or any other entity owned by Central Government or State Government].

Ministry of Micro, Small and Medium Enterprises, Government of India has launched the Udyam Assist Platform (UAP) to facilitate formalisation of Informal Micro Enterprises (IMEs) through online generation of Udyam Assist Certificate. Ministry of MSME has defined IMEs as those enterprises, which on the basis of their turnover, are exempted from filing returns under the provisions of the Central Goods and Services Tax Act, 2017.

The UAP is managed by SIDBI wherein registration of enterprises on the platform is done with the assistance of Designated Agencies which are RBI regulated entities (including scheduled commercial banks, non-banking financial companies, etc.). The certificate issued on UAP to IMEs is treated at par with URC for the purpose of availing PSL benefits. IMEs with an Udyam Assist Certificate are treated as micro enterprises for the purpose of PSL classification. (Refer Master Direction FIDD.MSME & NFS.12/06.02.31/2017-18 dated July 24, 2017 and circular  FIDD.MSME & NFS.BC.No.09/06.02.31/2023-24 dated May 09, 2023)

Financial Sector regulators/ authorities in India have established regulatory sandboxes to foster innovation in their respective domains. These include:

• Reserve Bank of India (RBI)
  Link: https://rbi.org.in/web/rbi/-/publications/reports/enabling-framework-for-regulatory-sandbox

• Securities and Exchange Board of India (SEBI)
  Link: https://www.sebi.gov.in/legal/circulars/jun-2021/revised-framework-for-regulatory-sandbox_50521.html

• Insurance Regulatory and Development Authority of India (IRDAI)
  Link: https://irdai.gov.in/document-detail?documentId=6541188

• International Financial Services Centres Authority (IFSCA)
  Link:https://ifsca.gov.in/Viewer?Path=Document%2FLegal%2Ffe-framework_27-04-202227042022122844.pdf&Title=Framework%20for%20FinTech%20 Entity%20in%20the%20International%20Financial%20Services%20Centres%20%28IFSCs%29&Date=27%2F04%2F2022

• It may be noted that Pension Fund Regulatory and Development Authority (PFRDA) currently does not have its own regulatory sandbox.

Ans. Any person who contravenes any provision of the FEMA, 1999 [except section 3(a)] or contravenes any rule, regulation, notification, direction or order issued in exercise of the powers under this Act or contravenes any condition subject to which an authorization is issued by the Reserve Bank, can apply for compounding to the Reserve Bank. Applications seeking compounding of contraventions under section 3(a) of FEMA, 1999 may be submitted to the Directorate of Enforcement (DOE).

Cheque Clearing traditionally involves a presentation session and a return session. In the Cheque Truncation System (CTS) of India, during the presentation session, the presenting bank (or its branch) captures the data of the cheques along with their electronic images and sends them, in lieu of the physical cheques, to the clearing house for presentation on the drawee (paying) bank. The clearing house processes the data, arrives at the settlement, and routes the images and requisite data to the drawee banks at the end of presentation session.

In the return session, the drawee bank submits the data of unpaid / dishonoured cheques to the clearing house. The clearing house processes provided data, arrives at the settlement, and routes the return data to the presenting banks at the end of the return session.

The clearing cycle is treated as complete once the presentation clearing and the associated return clearing sessions are successfully completed. Funds are made available to the presenting banks only after completion of the return clearing session.

Under Continuous Clearing, the flow of cheque images and data across banks through the clearing house is continuous and both the presentation and the return session (now called the confirmation session) operate in tandem. This enables faster clearing of cheques and even utilisation of infrastructure and resources throughout the day.

The details of the modalities of continuous clearing are indicated in the circular CO.DPSS.RLPD.No.S536/04-07-001/2025-2026 dated August 13, 2025.

ଉତ୍ତର. ଫଣ୍ଡ ଟ୍ରାନ୍ସଫର କରିବାର ଅନ୍ୟ ମାଧ୍ୟମ ତୁଳନାରେ ଆରଟିଜିଏସ ଅନେକ ଫାଇଦା ଦେଇଥାଏ:

ପାଣ୍ଠି ସ୍ଥାନାନ୍ତର ପାଇଁ ଏହା ଏକ ନିରାପଦ ଏବଂ ସୁରକ୍ଷିତ ବ୍ୟବସ୍ଥା ।
ଆରଟିଜିଏସ ଦେଣନେଣ / ସ୍ଥାନାନ୍ତରଣ ରେ ଅର୍ଥ ପରିମାଣ ଉପରେ କୌଣସି ସୀମା ନାହିଁ |
ଅଧିକାଂଶ ବ୍ୟାଙ୍କ ଶାଖା କାର୍ଯ୍ୟ କରୁଥିବାବେଳେ ଶନିବାର ଦିନ କୁ ଅନ୍ତର୍ଭୁକ୍ତ କରି ଏହି ସିଷ୍ଟମ ସବୁ ଦିନ ଉପଲବ୍ଧ ।
ଲାଭାର୍ଥୀଙ୍କ ଖାତାକୁ ପାଣ୍ଠିର ବାସ୍ତବ-ସମୟରେ ଫଣ୍ଡ ସ୍ଥାନାନ୍ତର କରାଯାଏ ।
ରେମିଟରଙ୍କୁ କୌଣସି କାଗଜର ଚେକ କିମ୍ବା ଡିମାଣ୍ଡ ଡ୍ରାଫ୍ଟ ବ୍ୟବହାର କରିବାର ଆବଶ୍ୟକତା ପଡ଼େ ନାହିଁ ।
କାଗଜ ଉପକରଣ ଜମା କରିବା ପାଇଁ ଲାଭାର୍ଥୀଙ୍କର ବ୍ୟାଙ୍କ ଶାଖା ପରିଦର୍ଶନ କରିବାର ଆବଶ୍ୟକତା ନାହିଁ ।
ଫିଜିକାଲ ଇନ୍ସଟୃମେଣ୍ଟର କ୍ଷତି / ଚୋରି କିମ୍ବା ଏହାର ଜାଲିଆତି ହେବାର ସମ୍ଭାବନା ବିଷୟରେ ହିତାଧିକାରୀ ଭୟଭୀତ ହେବା ଆବଶ୍ୟକ ନୁହେଁ |
ଅର୍ଥ ପ୍ରେରକ ତାଙ୍କ ଘର / କାର୍ଯ୍ୟ ସ୍ଥାନରୁ ଇଣ୍ଟରନେଟ୍ ବ୍ୟାଙ୍କିଙ୍ଗ ମାଧ୍ୟମରେ ଟଙ୍କା ପଠାଇ ପାରିବେ, ଯଦି ତାଙ୍କ ବ୍ୟାଙ୍କ ଏହି ସେବା ପ୍ରଦାନ କରେ ।
ଆରବିଆଇ ଦ୍ୱାରା ଦେଣନେଣ ଶୁଳ୍କର ସୀମା ଧାର୍ଯ୍ୟ କରାଯାଇଛି ।
ଏହି ଦେଣନେଣରେ ଆଇନଗତ ସମର୍ଥନ ଅଛି ।

A link to ATS has been provided in the RBI website http://www.rbi.org.in.

Ans : IDF-MFs can be sponsored by banks and NBFCs. Only banks and Infrastructure Finance companies can sponsor IDF-NBFCs.

Local cheque collection charges are decided by the concerned bank from time to time and communicated to customer through their CCP as part of the Code of Bank’s Commitment to Customers.

Banks cannot charge more than the following for outstation cheques:

Up to and including Rs.5,000 – Rs.25 per instrument + service tax; Above Rs.5,000 and up to and including Rs.10,000 – not exceeding Rs.50 per instrument + service tax; Above Rs.10,000 and up to and including Rs.1,00,000 – not exceeding Rs.100 per instrument + service tax; Above Rs.1,00,000 – left to the banks to decide. No additional charges such as courier charges, out of pocket expenses, etc., should be levied.

It may be noted, no outstation cheque collection charges to be levied if the collecting bank and the paying bank are located within the jurisdiction of the same CTS grid even though they are located in different cities.

• Yes, capital protection will be provided by paying higher of the adjusted principal and face value (FV) at redemption.

• If adjusted principal goes below FV due to deflation, the FV would be paid at redemption and thus, capital will get protected.