FAQ Page 1 - RBI - Reserve Bank of India
FAQs on Non-Banking Financial Companies
Extent of regulations over NBFCs accepting public deposits and not accepting public deposits
External Commercial Borrowings (ECB) and Trade Credits
K. MISCELLANEOUS
All you wanted to know about NBFCs
D. Definition of deposits, Eligible / Ineligible Institutions to accept deposits and Related Matters
Core Investment Companies
Core Investment Companies (CICs)
Ans: Yes, company which is a CIC and has achieved the balance sheet size of Rs.100 crore as per its last audited annual financial statement is required to apply to the Bank for registration as a CIC-SI, subject to its meeting the other conditions for being identified as systemically important CIC.
All you wanted to know about NBFCs
D. Definition of deposits, Eligible / Ineligible Institutions to accept deposits and Related Matters
Domestic Deposits
IV. Advances against shares and debentures
Banks can purchase letter of allotment in respect of PSU bonds subject to the following conditions.
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The transactions (other than interbank transactions) should be undertaken only through recognized Stock Exchanges and registered brokers.
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While purchasing the bonds, the bank should ensure that it gets a clear title to the security and the security is tradable in the secondary market.
- The bank should prescribe its internal guidelines with the approval of the Board for undertaking such transaction.
Retail Direct Scheme
Investment and Account holdings related queries
Indian Currency
E) Counterfeits/Forgeries
Counterfeiting banknotes/using as genuine, forged or counterfeit banknotes/possession of forged or counterfeit banknote/making or possessing instruments or materials for forging or counterfeiting banknotes/making or using documents resembling banknotes are offences under Sections 489A to 489E of the Indian Penal Code and are punishable in the Courts of Law by fine or imprisonment ranging from seven years to life imprisonment or both, depending on the offence.
The Government of India has framed Investigation of High Quality Counterfeit Indian Currency Offences Rules, 2013 under Unlawful Activities (Prevention) Act (UAPA), 1967. The Third Schedule of the Act defines High Quality Counterfeit Indian Currency Note. Activity of production, smuggling or circulation of High Quality Counterfeit Indian Notes has been brought under the ambit of UAPA, 1967.
Foreign Investment in India
IV. Reporting Delays
FAQs on Non-Banking Financial Companies
Extent of regulations over NBFCs accepting public deposits and not accepting public deposits
External Commercial Borrowings (ECB) and Trade Credits
PART II: TRADE CREDITS (TC)
AD banks can issue SBLC on behalf of their customers for availing short term trade credit from overseas lenders in foreign currency subject to such SBLCs complying with the provisions contained in Department of Banking Regulation Master Circular No. DBR. No. Dir. BC.11/13.03.00/2015-16 dated July 1, 2015 on “Guarantees and Co-acceptances”, as amended from time to time.
Domestic Deposits
IV. Advances against shares and debentures
Retail Direct Scheme
Investment and Account holdings related queries
Indian Currency
E) Counterfeits/Forgeries
Mere possession of a forged note does not attract punishment. Possession of any forged or counterfeit banknotes, knowing or having reason to believe the same to be forged or counterfeit and intending to use the same as genuine or that it may be used as genuine, is punishable under Section 489C of Indian Penal Code, 1860.
Foreign Investment in India
IV. Reporting Delays
FAQs on Non-Banking Financial Companies
Repayment of matured deposits
All you wanted to know about NBFCs
D. Definition of deposits, Eligible / Ineligible Institutions to accept deposits and Related Matters
Retail Direct Scheme
Investment and Account holdings related queries
Domestic Deposits
IV. Advances against shares and debentures
Page Last Updated on: December 10, 2022