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Savings Bank Deposit Account (BSBDA) – FAQs (RRBs/StCBs/DCCBs)

Response

No. Banks are advised not to impose restrictions like age and income criteria of the individual for opening BSBDA.

The interest charged on fixed rate loans as well as the fixed portion of hybrid loans will be the interest rate mentioned in the sanction letter.

One can file a complaint with the NBFC Ombudsman by writing on a plain paper and sending it to the concerned office of the NBFC Ombudsman by post/fax/hand delivery. One can also file it by email to the NBFC Ombudsman.

A complaint form along with the scheme is also available on RBI's website, though, it is not mandatory to use this format.

Banks would be free to price the deposit within the overall ceiling as per the extant guidelines issued by RBI (c.f. RBI Circular DBOD.Dir.BC. 38/13.03.00/2013-14 dated August 14, 2013).

Ans. No

Fixed rate 1.5% per annum

Issue/ Coupon/ maturity date

Fixed rate

CPI

Inflation rate *

Interest rate (Compounding rate)

Principal

I

II

III

IV

V=II+IV

VI=VI*V

25-Dec-13

 

150

 

 

5000

25-Jun-14

0.75

160

6.67

7.4

5371

25-Dec-14

0.75

166

3.75

4.5

5613

25-Jun-15

0.75

175

5.42

6.2

5959

25-Dec-15

0.75

185

5.71

6.5

6344

25-Jun-16

0.75

190

2.70

3.5

6563

25-Dec-16

0.75

200

5.26

6.0

6958

25-Jun-17

0.75

210

5.00

5.8

7358

25-Dec-17

0.75

218

3.81

4.6

7693

25-Jun-18

0.75

228

4.59

5.3

8104

25-Dec-18

0.75

235

3.07

3.8

8414

25-Jun-19

0.75

246

4.68

5.4

8870

25-Dec-19

0.75

255

3.66

4.4

9262

25-Jun-20

0.75

265

3.92

4.7

9694

25-Dec-20

0.75

280

5.66

6.4

10316

25-Jun-21

0.75

290

3.57

4.3

10761

25-Dec-21

0.75

305

5.17

5.9

11399

25-Jun-22

0.75

316

3.61

4.4

11895

25-Dec-22

0.75

330

4.43

5.2

12512

25-Jun-23

0.75

340

3.03

3.8

12985

25-Dec-23

0.75

355

4.41

5.2

13655

*Inflation rates are calculated on half yearly basis.

Ans. Direct access to CPS for non-banks will be enabled in a phased manner. In the first phase, the following authorised non-bank PSPs will be provided access –

i. Prepaid Payment Instrument (PPI) Issuers,

ii. Card Networks and

iii. White Label ATM Operators.

The data may be shared with the overseas regulator, if so required, depending upon the nature / origin of transaction with due approval of RBI.

Ans. A Factoring Unit (FU) is a standard nomenclature used in TReDS for invoice(s) or bill(s) of exchange. Each FU represents a confirmed obligation of the corporates or other buyers, including Government Departments and PSUs.

One can file a complaint with the Ombudsman by writing on a plain paper and sending it to the concerned office of the Ombudsman by post/fax/hand delivery. One can also file it by email to the Ombudsman for Digital Transactions. (For contact details please click here) A complaint form along with the scheme is also available on RBI's website, though, it is not mandatory to use this format.

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Page Last Updated on: December 11, 2022

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