Ans.: After sending the duly filled in survey schedule (excel based) to the generic email IDs of the Reserve Bank as per the instruction in the survey schedule, the respondent will receive the system-generated acknowledgement. No separate mail will be sent in this regard. If some error is mentioned in the acknowledgement, then the respondent is required to resubmit the form by rectifying the mentioned error. After corrections, the respondent should receive a successful processing acknowledgement email.

Ans: In general, the due date for participating in CPIS for end-March and end-September position is July 15 and December 31 of that year respectively.

The information about indent and supply of notes and coins or currency/coins in circulation is available on our website www.rbi.org.in, at the following link https://rbi.org.in/web/rbi/publications/reports/annual_report.

Clarification: The banks are required to submit a request to Financial Inclusion and Development Department, Central Office, RBI at fiddpsd@rbi.org.in to obtain registration for PSLC trading by submitting a) DEA Fund Code b) Customer identification number and c) RBI Current Account number.

For the purpose of exemption from NBFC Directions, (1998) on Acceptance of Public Deposits, the debentures are required to be fully secured on the date of issue and to the fullest satisfaction of the trustees.

The circular is intended to achieve the following objectives:

1. It rationalises the existing regulatory guidance to banks on compromise settlements, consolidating various instructions issued over the years. It also tightens some of the related provisions and ensures greater transparency.

2. By providing a clear regulatory framework, it enables other regulated entities, particularly cooperative banks, to undertake compromise settlements as part of the normal resolution efforts.

3. It provides clarity on definition of technical write-off and provides a broad guidance on the process to be followed by the regulated entities for technical write-offs, which is a normal banking practice.

4. As a disincentive to both the lenders and the borrowers, it introduces the concept of cooling period for normal cases of compromise settlement during which the lender undertaking settlement shall not take any fresh exposure on the borrower entity. In case of borrower accounts classified as wilful defaulter or fraud, the debarment to obtain fresh finance, as explained at (2) above, will apply.

Money Transfer Service Scheme (MTSS) is a way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible. Under the scheme there is a tie-up between reputed money transfer companies abroad known as Overseas Principals and agents in India known as Indian Agents who would disburse funds to beneficiaries in India at ongoing exchange rates.

1. Eligible Investors may login to https://rbiretaildirect.org.in and register using the Registration link to begin the account opening process.

2. To open an account, the investor will have to furnish details like full name, PAN, mobile number, e-mail address, residential address, savings bank account number, etc. and specify a login name. Mobile number and email address will be authenticated using OTP and all further customer requests and services will be OTP based.

3. For joint accounts, the PAN, e-mail address and phone number of both holders will be required.

4. Once these details have been provided, you will get a reference number to track your application.

5. You may now initiate your Know Your Customer (KYC) verification process.

6. In case of joint accounts, the KYC verification will be done for both the holders.

7. It will be mandatory for the investor to fill in the nomination details at the time of opening of the account.

8. The savings bank account of the customer will be linked to their Retail Direct account by crediting a token amount into their bank account and verifying the same.

9. Once the KYC is successful, an RDG account will be opened in the name of the investor(s).

10. Information related to account number, login id & password to access the Online Portal will be made available to the customer on their registered e-mail id.

11. In case of KYC failures, the individual can make new application or resubmit application after making necessary changes.

Banks have freedom to determine their own penal rates of interest for premature withdrawal of term deposits.

Ans: Yes, entities can modify the already submitted FLA return after taking the approval from RBI.