Presently, Offices of RBI Ombudsmen (ORBIOs) are functioning from 22 locations across India. However, the complainants need not contact/ approach any specified ORBIO for filing a complaint under the RB-IOS, 2021. The complaints lodged directly online through CMS Portal (https://cms.rbi.org.in) are automatically allocated to different RBI Ombudsmen for redressal upon registration of the complaint. Physical and email complaints are processed and entered in CMS for further processing, after seeking further information/ details, if missing, from the complainant.

Answer: Yes, such acceptance of deposit and refunds, if required, will be covered under current account transactions and can be made freely without any restriction from FEMA perspective.

Ans. No. However, in case the customer is desirous of receiving any benefit or subsidy under any scheme notified under section 7 of the Aadhaar (Targeted Delivery of Financial and Other subsidies, Benefits and Services) Act, 2016 (18 of 2016), the customer shall provide the Aadhaar number. In other cases, the Aadhaar number may be provided voluntarily by the customers.

Ans: No. There is no minimum balance required to open/maintain an e₹ wallet.

Although no upper limit/ cap for penal charges has been prescribed in the circular, the REs, while formulating their Board approved policy on penal charges, should keep in mind that the intent of levying penal charges is essentially to inculcate a sense of credit discipline and such charges are not meant to be used as a revenue enhancement tool. Accordingly, the quantum of penal charges shall have to be ‘reasonable’ and ‘commensurate’ with the non-compliance of material terms and conditions of loan contract.

Ans. In terms of paragraph 10.2, if a Term Deposit (TD) matures and proceeds are unpaid, the amount left unclaimed with the bank will attract rate of interest as applicable to savings account or the contracted rate of interest on the matured TD, whichever is lower.

Ans.: Yes. In case the company/LLPs/proprietorship firm doesn’t have export earnings during the reference period, but had the same earlier, then it has to submit NIL survey schedule for the current round of ITES survey.

Ans. A transaction carried out at an ATM of the card issuing bank is called an On-Us transaction. A transaction carried out at any other ATM is called an Off-Us transaction. For instance, if a card issued by bank A is used at an ATM of bank A then it is an On-Us transaction; if the card is used at a WLA or at an ATM of any other bank, the transaction is Off-Us.

Answer: No. AD bank in India can open multiple Special Rupee Vostro Accounts for different banks from the same country.

Response: No. The renewal of MTGD/LTGD has been discontinued with effect from March 26, 2025.