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Foreign Exchange (Forex) Transactions

Q7. Where can a resident person register complaints against unauthorised electronic trading platforms (ETPs) for forex transactions? +

Answer: Complaints regarding unauthorised ETPs for forex transaction may be filed on the National Cyber Crime Reporting Portal (https://cybercrime.gov.in). This portal is an initiative of Government of India to facilitate victims/complainants to report all types of cybercrime complaints online. Complaints reported to the portal are dealt by respective police authorities of States/ UTs based on the information provided by the complainants. Complaints may also be filed with Enforcement Directorate (ed-del-rev@nic.in) and respective police authorities of States/UTs.

Disclaimer: These FAQs are issued by the Reserve Bank of India for information and general guidance purposes only. The Bank will not be held responsible for actions taken and/or decisions made on the basis of the same. For clarifications or interpretations, if any, one may be guided by the relevant circulars and notifications issued from time to time.

7. Can tokenisation be enabled through a smart watch or such other devices? +

Ans. The feature of tokenisation is available on consumer devices like mobile phones, tablets, laptops, desktops, wearables (wrist watches, bands, etc.), Internet of Things (IoT) devices, etc.

7. Are all the above forms of Government securities issued by RBI as well as Agency banks? +

Government securities in the form of GPN, bearer bond, stock and BLA are issued by RBI, while the Agency Banks are presently eligible to issue Relief/Savings Bonds in the form of BLA only.

¹As per the Footnote 13 of Annex 1 of the Circular.

²As defined in RBI Circular Ref. DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019 on ‘Large Exposures Framework’

Q 7: Whether the flow of funds between the bank accounts of borrower and lender in a lending transaction can be controlled directly or indirectly by a third-party including LSP? +

Ans: No

7. What would be the SLR treatment for the mark-to-market appreciation in the IIB. Would an increased principal due to MTM be eligible for increase in SLR for the Bank holding the IIB. +

Ans: Valuation methodology for IIBs has been explained above. Other than that no change is considered.

Sr.No.7: Regarding the ‘T+1’ day mandated as per para 9(ii) of the Directions, does the ‘day’ refer to a bank working day?

Ans: Yes, since all fund transfers must be conducted through and from bank accounts, ‘T+1’ day shall be considered as ‘T+1’ bank working day.

7. How the payment of Dearness Relief at revised rate is to be paid to the pensioners?

The pension paying agency banks have to revise the Dearness Relief based on the copies of government orders provided by government to them through post, fax, e-mails or by accessing the information from the website of the concerned governments, and authorize their pension paying branches to make payments to the pensioners immediately.

7. Which entities are required to participate in the ITES survey?

Ans.: Companies/LLPs/Partnership firms in the business of export of computer software & information technology enabled services are required to participate in this survey.