Ans.  A contravener may submit a compounding application form, physically or through PRAVAAH Portal of the Reserve Bank along with the documents/formats provided as Annexure I, Annexure II and Annexure III of the Directions – Compounding of contraventions under FEMA, 1999.

Ans. The Payments Regulatory Board Regulations, 2025 deals with the constitution of the Payments Regulatory Board (PRB). It also deals with the composition of the PRB, exercising of powers on behalf of PRB, meetings of the PRB and quorum, the constitution of Sub-Committees/ Advisory Committees by PRB, etc. The PRB exercises the powers on behalf of the Reserve Bank, for regulation and supervision of the payment and settlement systems under the PSS Act, 2007.

The Payment and Settlement Systems Regulations, 2008 covers matters like form of application for authorization for commencing/ carrying on a payment system and grant of authorization, payment instructions and determination of standards of payment systems, furnishing of returns/documents/other information, furnishing of accounts and balance sheets by system provider etc.

Ans. A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India (other than Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000. A person (not being a citizen of Pakistan or Bangladesh) may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes, in denomination not exceeding Rs.100; provided that an individual travelling to India from Nepal or Bhutan can carry notes of denominations of above ₹100, up to a total limit of ₹25,000. Any person resident outside India, not being a citizen of Pakistan and Bangladesh and also not a traveller coming from and going to Pakistan and Bangladesh, and visiting India may bring into India currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000 while entering only through an airport.

Only CTS-2010 standards compliant instruments can be presented for clearing through CTS. CTS-2010 standards contain certain benchmarks towards achieving standardisation of cheques issued by banks across the country. These include provision of mandatory minimum-security features on cheque forms like quality of paper, watermark, bank’s logo in invisible ink, void pantograph, etc., and standardisation of field placements on cheques. The minimum-security features and standardisation help presenting banks while scrutinising / recognising cheques of drawee banks in an image-based processing scenario.

Ans: e₹ wallets are safe and secure. There is a robust cyber-security framework to ensure that e₹ is kept secure in the user’s wallet. The e₹ stored in the e₹ wallet is safe even if the mobile device on which the e₹ wallet is installed is lost. The e₹ wallet can be recovered using the same phone number / SIM on a new mobile device.

Ans. The monies so collected by the PPI issuers are to be used to make payments to merchants who are part of the acceptance arrangement and for facilitating funds transfer / remittance services on behalf of the PPI holders.

ଆଜ୍ଞା ହଁ, ବ୍ୟକ୍ତି ଯେଉଁଠାରେ ତାଙ୍କର 'ମୌଳିକ ସଞ୍ଚୟ ବ୍ୟାଙ୍କ ଜମା ଖାତା' ଅଛି ସେହି ବ୍ୟାଙ୍କରେ ଅବଧୀ / ସ୍ଥାୟୀ ଜମା/ ପୌନଃପୁନିକ ଜମା ଇତ୍ୟାଦି ଖାତା ରଖିପାରିବେ ।

All loans meeting the eligibility criteria, unless covered by the specific exclusions listed in Paragraph 2 of the Annex to the Resolution Framework subject to the clarification at Sl. No. 2 above fall within the scope of resolution under the framework. These loans, if not falling under any of the categories mentioned in Paragraph 2 of the Annex to the Resolution Framework, is eligible for resolution under Part A of the Annex if they fall within the purview of “personal loans” as defined in the Circular DBR.No.BP.BC.99/08.13.100/2017-18 dated January 4, 2018 on “XBRL Returns – Harmonization of Banking Statistics”, even if they are not explicitly classified as so in any regulatory / supervisory reporting, or under Part B of the Annex otherwise.

ଉତ୍ତର. ଏନଇଏଫଟି ହେଉଛି ଏକ ଇଲେକ୍ଟ୍ରୋନିକ୍ ପାଣ୍ଠି ସ୍ଥାନାନ୍ତର ବ୍ୟବସ୍ଥା ଯେଉଁଥିରେ ଏକ ନିର୍ଦ୍ଦିଷ୍ଟ ସମୟ ପର୍ଯ୍ୟନ୍ତ ପ୍ରାପ୍ତ ହୋଇଥିବା ଦେଣନେଣ ଗୁଡିକୁ ବ୍ୟାଚ ହିସାବରେ ପ୍ରକ୍ରିୟାକରଣ କରାଯାଏ । ଏହାର ବିପରୀତ, ଆରଟିଜିଏସ ରେ, ଆରଟିଜିଏସ କାରବାର ସମୟ ମଧ୍ୟରେ ଦେଣନେଣ ଆଧାରରେ ଦେଣନେଣ ଉପରେ ନିରନ୍ତର ଭାବରେ ପୁରା କରାଯାଏ ।

• Index ratio (IR) will be calculated by dividing the reference WPI on the settlement date with the reference WPI on the issue date.

• The formula for the same is as under:

Ans. Yes.  An entity not registered with the Bank may not conduct the business of factoring unless it is an entity mentioned in Section 5 of the Act i.e. a bank or any corporation established under an Act of Parliament or State Legislature, or a Government Company as defined under section 617 of the Companies Act, 1956.

On behalf of GAH, PM needs to submit an access request form to CCIL. The Request would be formally addressed to RBI. However, CCIL has been authorized to directly receive and process Access Request Form from PM for operational convenience. A detailed operation flow is contained in Annexure I.

Ans : NBFCs desirous of sponsoring IDF-MFs are required to comply with the following requirements :

• The NBFC should have a minimum Net Owned Funds (NOF) of Rs.300 crore; and Capital to Risk Weighted Assets (CRAR) of 15%;

• its net NPAs should be less than 3% of net advances;

• it should have been in existence for at least 5 years;

• it should be earning profits for the last three years and its performance should be satisfactory;

• the CRAR of the NBFC post investment in the IDF-MF should not be less than the regulatory minimum prescribed for it;

• The NBFC should continue to maintain the required level of NOF after accounting for investment in the proposed IDF and

• There should be no supervisory concerns with respect to the NBFC.

Like in most countries, banks in India also are required to develop their own individual policy / procedures relating to collection of cheques. The customer is entitled to receive due disclosures from the bank on the bank's obligations and the customers' rights.

Broadly, the policies formulated by banks should cover the following areas:

Immediate credit for local / outstation cheques, Time frame for collection of local / outstation instruments and compensation payable for delayed collection.

The CCPs of various banks are made available on the website of respective bank.

Banks are obliged to disclose their liability to customers by way of compensation / interest payments due to delays for non-compliance with the standards set by the banks themselves. The customer has to be compensated by way of compensation/interest payment even if no formal claim is lodged to the effect.

Banks generally offer either of the following loan options: Floating Rate Home Loans and Fixed Rate Home Loans. For a Fixed Rate Loan, the rate of interest is fixed either for the entire tenure of the loan or a certain part of the tenure of the loan. In case of a pure fixed loan, the EMI due to the bank remains constant. If a bank offers a Loan which is fixed only for a certain period of the tenure of the loan, please try to elicit information from the bank whether the rates may be raised after the period (reset clause). You may try to negotiate a lock-in that should include the rate that you have agreed upon initially and the period the lock-in lasts.

Hence, the EMI of a fixed rate loan is known in advance. This is the cash outflow that can be planned for at the outset of the loan. If the inflation and the interest rate in the economy move up over the years, a fixed EMI is attractively stagnant and is easier to plan for. However, if you have fixed EMI, any reduction in interest rates in the market, will not benefit you.

Determinants of floating rate:

The EMI of a floating rate loan changes with changes in market interest rates. If market rates increase, your repayment increases. When rates fall, your dues also fall. The floating interest rate is made up of two parts: the index and the spread. The index is a measure of interest rates generally (based on say, government securities prices), and the spread is an extra amount that the banker adds to cover credit risk, profit mark-up etc. The amount of the spread may differ from one lender to another, but it is usually constant over the life of the loan. If the index rate moves up, so does your interest rate in most circumstances and you will have to pay a higher EMI. Conversely, if the interest rate moves down, your EMI amount should be lower.

Also, sometimes banks make some adjustments so that your EMI remains constant. In such cases, when a lender increases the floating interest rate, the tenure of the loan is increased (and EMI kept constant).

Some lenders also base their floating rates on their Benchmark Prime Lending Rates (BPLR). You should ask what index will be used for setting the floating rate, how it has generally fluctuated in the past, and where it is published/disclosed. However, the past fluctuation of any index is not a guarantee for its future behavior.

Flexibility in EMI:

Some banks also offer their customers flexible repayment options. Here the EMIs are unequal. In step-up loans, the EMI is low initially and increases as years roll by (balloon repayment). In step-down loans, EMI is high initially and decreases as years roll by.

Step-up option is convenient for borrowers who are in the beginning of their careers. Step-down loan option is useful for borrowers who are close to their retirement years and currently make good money.

Ans: Bonds subscribed by banks and which meet the criteria specified in circular dated April 23, 2010 will continue to be classified under HTM category.

Ans The primary modes of funds transfer at present are demand draft, mail transfer and telegraphic transfer. The demand draft facility is paper based. The remitter, after purchasing demand draft from a bank branch, dispatches the same by post/courier to the beneficiary. The beneficiary, in turn, lodges the draft to his/her bank for collection and clearing. The time taken for completing the process is about 10 days. In the case of telegraphic transfer, fund reaches the beneficiary either on the same day or the next; but both the remitter and the beneficiary would have to be account holders of the same bank. If they are customers of different banks, a good deal of paper processing is required. On the other hand, RBI EFT system is an inter-bank oriented system. RBI acts as an intermediary between the remitting bank and the receiving bank and effects inter-bank funds transfer. The customers of banks can request their respective branches to remit funds to the designated customers irrespective of bank affiliation of the beneficiary.

Ans. The Asian Monetary Units (AMUs) is the common unit of account of ACU and is denominated as ‘ACU Dollar’, ‘ACU Euro’ and ‘ACU Yen’, which is equivalent in value to one US Dollar, one Euro and one Japanese Yen respectively. All instruments of payments under ACU have to be denominated in AMUs. Settlement of such instruments may be made by AD Category-I banks through the ACU Dollar Accounts, ACU Euro Accounts and ACU Yen Accounts, which should be distinct from the other US Dollar, Euro and Japanese Yen Accounts respectively maintained for non ACU transactions. As the payment channel for processing ‘ACU Euro’ is under review, the operations in ‘ACU Euro’ have been temporarily suspended with effect from July 01, 2016 and accordingly, all eligible current account transactions including trade transactions in “Euro” are permitted to be settled outside the ACU mechanism until further notice.

Authorized dealers may release foreign exchange upto USD 100,000 or its equivalent to resident Indians for medical treatment abroad on self declaration basis of essential details, without insisting on any estimate from a hospital/doctor in India/abroad. A person visiting abroad for medical treatment can obtain foreign exchange exceeding the above limit, provided the request is supported by an estimate from a hospital/doctor in India/abroad. This exchange is to meet the expenses involved in treatment and in addition to the amount referred to in paragraph 1 above.

Ans: Bank-wise list of IFSCs is available with all the bank-branches participating in NEFT scheme. List of bank-wise branches participating in NEFT and their IFSCs is also available on the website of RBI at /en/web/rbi/-/list-of-neft-enabled-bank-branches-bank-wise-indian-financial-system-code-updated-as-on-june-30-2023-2009-1. All member banks have also been advised to print the IFSC of the branch on cheques issued to their customers.