Ans. V-CIP is an alternate method of customer identification with facial recognition and customer due diligence that allows REs to obtain and verify a customer’s identity information through a digital, secure, live, informed and consent-based and live audio-visual interaction between an authorised RE official and the customer to obtain identification information required for CDD purpose. V-CIP eliminates the need for physical visit to a branch of the RE but is treated on par with face-to-face CIP. Assisted V-CIP is also permitted when banks take help of Business Correspondents (BCs) facilitating the process only at the customer end.

Answer: No.

Response: No.

The testing phase duration will be as per the sandbox framework of the PR concerned.

Ans. One can refer to Directions – Compounding of contraventions under FEMA, 1999, available on Reserve Bank’s website.

Ans. Yes, the Reserve Bank can refuse to grant authorization under the PSS Act, 2007. However, the Reserve Bank has to give a written notice to such an applicant giving the reasons for refusal and also a reasonable opportunity of being heard {Section 7 (3) of the PSS Act 2007}.

Ans: e₹ is a digital form of ₹ whereas UPI is a means of payment. In addition to being used for payments, e₹ also serves as a ‘store of value’, i.e., e₹ can be withdrawn from one’s bank account and kept separately in the e₹ wallet.

In the case of P2P and P2M payments made at any CBDC QR, the transactions happen between two e₹ wallets, and are settled instantaneously without passing through user’s bank accounts.

For P2P and P2M payments, the functionality of scanning a UPI QR from an e₹ app has also been enabled. In such cases, the settlement will be based on the UPI settlement timelines.

ଉତ୍ତର. ଆଜ୍ଞା ହଁ, ପ୍ରତି ଧାରକ ପ୍ରତି ମାସରେ ଟ. 10,000 / - ସୀମା ମଧ୍ୟରେ ଏକ ' କେୱାଇସି କମ୍ପ୍ଲିଆଣ୍ଟ ପିପିଆଇ' ରୁ ପାଣ୍ଠି ସ୍ଥାନାନ୍ତର କରିବା ପାଇଁ ଅନୁମତି ପ୍ରାପ୍ତ । ତଥାପି, ଯଦି ଲାଭାର୍ଥୀ ଏକ ପିପିଆଇ ଧାରକଙ୍କ ଦ୍ୱାରା ‘ପୂର୍ବରୁ-ପଞ୍ଜିକୃତ’ ହୁଏ, ତେବେ ସିଏ ପ୍ରତି ମାସରେ ଟ. 1,00,000 / - ପର୍ଯ୍ୟନ୍ତ ଏକ ବର୍ଦ୍ଧିତ ସୀମା ଲାଭ କରିପାରିବେ । ଏକ ପିପିଆଇ ଜାରିକର୍ତ୍ତା , ପିପିଆଇ ଧାରକର କ୍ଷତିପୂରଣ ସ୍ୱରୂପ ଅନ୍ୟାନ୍ୟ କାର୍ଯ୍ୟକ୍ଷମ ବିପଦ ଇତ୍ୟାଦିକୁ ଧ୍ୟାନ ଦେବା ପରେ ଏକ ନିମ୍ନ ସୀମା ମଧ୍ୟ ସ୍ଥିର କରିପାରନ୍ତି ।

ବିଏସବିଡିଏ ଖୋଲିବା ବେଳେ ବ୍ୟାଙ୍କ ଗୁଡିକ ଏଭଳି ଗ୍ରାହକଙ୍କୁ ଏଟିଏମ୍ ଡେବିଟ କାର୍ଡ, ଏଟିଏମ ପିନ୍ ଏବଂ ଏହା ସହିତ ଜଡିତ ବିପଦ ବିଷୟରେ ଅବଗତ କରାଇବା ବାଞ୍ଛନୀୟ । ଯଦି ଗ୍ରାହକ ଏଟିଏମ ଡେବିଟ କାର୍ଡ ରଖିବା ସପକ୍ଷରେ ନାହାନ୍ତି, ତେବେ ବ୍ୟାଙ୍କଗୁଡିକ ଏଭଳି ଗ୍ରାହକଙ୍କୁ ଜବରଦସ୍ତ ଏଟିଏମ ଡେବିଟ କାର୍ଡ ଦେବାର ଆବଶ୍ୟକତା ନାହିଁ । ତେବେ, ଯଦି ଗ୍ରାହକ ଏଟିଏମ ଡେବିଟ କାର୍ଡ ପାଇବାକୁ ଇଚ୍ଛୁକ, ତେବେ ବ୍ୟାଙ୍କ ନିଜର ଅନ୍ୟ ଗ୍ରାହକଙ୍କୁ ଏଟିଏମ ଡେବିଟ କାର୍ଡ ଏବଂ ପିନ ହସ୍ତାନ୍ତର ପାଇଁ ଅନୁସରଣ କରାଯାଉଥିବା ପଦ୍ଧତିକୁ ଗ୍ରହଣ କରି ସୁରକ୍ଷିତ ବିତରଣ ଚ୍ୟାନେଲ ମାଧ୍ୟମରେ ଏହାକୁ ବିଏସବିଡିଏ ଗ୍ରାହକଙ୍କୁ ଉପଲବ୍ଧ କରାଇବା ଉଚିତ ।

Ans : The advantages of ECS Debit to customers are many and include,

• ECS Debit mandates will take care of automatic debit to customer accounts on the due dates without customers having to visit bank branches / collection centres of utility service providers etc.

• Customers need not keep track of due date for payments.

• The debits to customer accounts would be monitored by the ECS Users, and the customers alerted accordingly.

• Cost effective.

A person coming into India from abroad can bring with him foreign exchange without any limit provided if foreign currency notes, or travellers cheques exceed US$ 10,000/- or its equivalent and/or the value of foreign currency exceeds US$ 5,000/- or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India.

All OPRC values are modifiable intra-day, subject to relative modifications being applicable only on a prospective basis i.e., they will not impact in any manner trades already concluded prior to such modification request being received by NDS-OM Web. Every order input by any authorized GAH user shall be validated against each of the OPRC values on funding/trading limits given to individual GAH user set by the PM before routing orders to the NDS-OM. Any order that violates the values prescribed for the concerned GAH and/or individual GAH user would be rejected by NDS-OM Web. Orders that successfully pass through OPRC validations set for a GAH by its PM would travel to the NDS-OM system and would be eligible for being traded in the same manner as any other order on the NDS-OM system following requisite order matching rules, conventions and processes. As GAHs remain the constituents of the PM, the trades will seamlessly settle through the existing settlement infrastructure.

The advantages of ECS Debit to customers are many and include, ECS Debit mandates will take care of automatic debit to customer accounts on the due dates without customers having to visit bank branches / collection centres of utility service providers etc. Customers need not keep track of due date for payments. The debits to customer accounts would be monitored by the ECS Users, and the customers alerted accordingly. Cost effective.

A person coming into India from abroad can bring in with him Indian currency notes within the limits given below: a. upto Rs. 5,000 from any country other than Nepal or Bhutan, and b. any amount in denomination not exceeding Rs.100 from Nepal or Bhutan.

Ans: If the NEFT transaction is not credited or returned within two hours after batch settlement, then the bank is liable to pay penal interest to the affected customer at the current RBI LAF Repo Rate plus two percent for the period of delay / till the date of credit or refund, as the case may be, is afforded to the customers’ account without waiting for a specific claim to be lodged by the customer in this regard.

Authorised Dealers Category-II can issue forex pre-paid cards to residents travelling on private/business visit abroad, subject to adherence to KYC/AML/CFT requirements. However, settlement in respect of forex pre-paid cards has to be effected through AD Category-I banks.

In the illustration of Question 14 above, where the auction was yield based, the cut off rate that emerged in the auction was 9.40 per cent; while the weighted average cut off rate was 9.36 per cent. At the weighted average rate of 9.36 per cent the price of the security works out to Rs.100.27. Therefore, under the Scheme, the investor will get the security at Rs.100.27. Hence, price payable for every Rs.100 (face value) is Rs. 100.27. Therefore, for securities worth Rs.10,000, he will have to pay (Price x Face value/100) = 100.27 x 10,000/100=Rs.10,270/-

The appellate authority may:dismiss the appeal; orallow the appeal and set aside the Award; orsend the matter to the Banking Ombudsman for fresh disposal in accordance with such directions as the appellate authority may consider necessary or proper; ormodify the Award and pass such directions as may be necessary to give effect to the modified award; orpass any other order as it may deem fit.

Reinvestment deposits are those deposits where interest (as and when due) is reinvested at the same contracted rate till maturity which is withdrawable with the principal amount on maturity date. It is also applicable to domestic deposits.

• As per extant RBI’s guidelines, banks will be free to decide interest rate on loans against these securities, subject to the condition that such interest rate is to be at base rate or above.