FAQ Page 1 - RBI - Reserve Bank of India
FAQs on Non-Banking Financial Companies
Definition of public deposits
Business restrictions imposed on Paytm Payments Bank Limited vide Press Releases dated January 31 and February 16, 2024
Bank Accounts with Paytm Payments Bank
Coordinated Portfolio Investment Survey – India
Details for survey launch
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.
FAQs on Master Directions on Priority Sector Lending Guidelines
G. Social Infrastructure
Framework for Compromise Settlements and Technical Write-offs
C. GENERAL
The circular is intended to achieve the following objectives:
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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.
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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.
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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.
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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.
Annual Return on Foreign Liabilities and Assets (FLA) under FEMA 1999
Eligible entities and requirements to submit the FLA return
Ans: Yes, entities can modify the already submitted FLA return after taking the approval from RBI.
Biennial survey on Foreign Collaboration in Indian Industry (FCS)
Details of survey launch
Ans.: In case the account closing is different from end-March, the company cannot report the information as per their account closing period. In such cases, the information should be reported for the reference period only, i.e., previous March and latest March based on company’s internal assessment. Companies can submit provisional figures in FCS survey schedule, if audited data is not available.
Domestic Deposits
I. Domestic Deposits
Retail Direct Scheme
Account opening related queries
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Eligible Investors may login to https://rbiretaildirect.org.in and register using the Registration link to begin the account opening process.
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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.
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For joint accounts, the PAN, e-mail address and phone number of both holders will be required.
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Once these details have been provided, you will get a reference number to track your application.
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You may now initiate your Know Your Customer (KYC) verification process.
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In case of joint accounts, the KYC verification will be done for both the holders.
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It will be mandatory for the investor to fill in the nomination details at the time of opening of the account.
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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.
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Once the KYC is successful, an RDG account will be opened in the name of the investor(s).
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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.
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In case of KYC failures, the individual can make new application or resubmit application after making necessary changes.
Targeted Long Term Repo Operations (TLTROs)
UPDATED: May 28, 2021
Ans: Banks can replace the security sold through buy-back route with any other specified security for the amount availed under TLTRO scheme. Banks should ensure that their TLTRO funding should always be backed by specified security till maturity of TLTRO.
Page Last Updated on: December 10, 2022