Ans. The ATM / ATM cum debit cards, credit cards and prepaid cards, as permitted by the issuer, can be used at ATMs/WLAs for various transactions.

Response: Government of India, vide its press release ID 2115009 dated March 25, 2025 has discontinued the Medium and Long Term Government Deposit (MLTGD) components of GMS. Accordingly, the mobilization of a MLTGD, including renewal, has been discontinued with effect from March 26, 2025. There is no change in the provisions pertaining to STBD under GMS.

Ans. Provisions related to penalty are contained in paragraph 15 of these Directions. The detailed procedure for premature withdrawal including partial premature withdrawal are determined by the banks in terms of their comprehensive Board approved policy.

Yes. REs may formulate an appropriate Board approved policy and adopt a suitable structure of penal charges that is ‘reasonable’ and ‘commensurate’ with the non-compliance of material terms and conditions of the loan contract.

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

Ans: In terms of MD-TLE dated September 24, 2021, Primary (Urban) Co-operative Banks (PUCBs), State Co-operative Banks (StCBs) and Central Co-operative Banks (CCBs) have been recognised as eligible transferors of stressed loans. The relevant provisions of circular “Guidelines on Sale of Financial Assets to Securitisation Company/Reconstruction Company (SC/RC) by Multi State Urban Cooperative Banks’ dated March 28, 2014, in terms of which only multistate cooperative banks could sell stressed assets to ARCs have been repealed. Accordingly, all cooperative banks are permitted to transfer stressed assets to ARCs in compliance with the provisions of the MD-TLE and other extant regulatory instructions.

The Resolution Framework may be invoked for resolution of all exposures of lending institutions to eligible borrowers, including investment exposures. However, the Resolution Framework is without prejudice to all applicable guidelines issued by the relevant financial sector regulators and other Departments of the RBI in respect of any particular exposure.

Ans. With effect from July 01, 2019, RBI has waived the processing charges levied by it for RTGS transactions. Banks may pass on the benefit to its customers. With a view to rationalise the service charges levied by banks for offering funds transfer through RTGS system, a broad framework of charges has been mandated as under: a) Inward transactions – Free, no charge to be levied. b) Outward transactions – ₹ 2,00,000/- to 5,00,000/-: not exceeding ₹ 25/- (exclusive of tax, if any) Above ₹ 5,00,000/-: not exceeding ₹ 50 (exclusive of tax, if any) Banks may decide to charge a lower rate but cannot charge more than the rates prescribed by RBI.

Ans. These PPIs are issued by an entity for facilitating the purchase of goods and services from that entity only. Cash withdrawals are not permitted. These instruments cannot be used for payment or settlement for third party services. The issuance or operation of such instruments is not classified as a payment system requiring approval / authorisation by RBI and are, therefore, not regulated or supervised by RBI.

• For calculating the index ratio for a specific date, daily reference WPI values would be linearly interpolated using ‘Ref WPI’ for the first day of the calendar month and the first day of the following calendar month.

• The formula for computing the reference WPI for a particular day is as under:

  

  [Ref WPI_M = Ref WPI for the first day of the calendar month in which Date falls, Ref WPI_M+1 = Ref WPI for the first day of the calendar month following the settlement date, D = Number of days in month (e.g. 31 days in August), and t= settlement date (e.g. August 6)]

• An example of daily reference WPI computed through interpolation is furnished below.

Date	Ref WPI (Given)	T-1	D	Ref WPI (Interpolation)
1-May-13	168.8
2-May-13		1	31	168.85
3-May-13		2	31	168.90
4-May-13		3	31	168.95
5-May-13		4	31	168.99
6-May-13		5	31	169.04
7-May-13		6	31	169.09
8-May-13		7	31	169.14
9-May-13		8	31	169.19
10-May-13		9	31	169.24
11-May-13		10	31	169.28
12-May-13		11	31	169.33
13-May-13		12	31	169.38
14-May-13		13	31	169.43
15-May-13		14	31	169.48
16-May-13		15	31	169.53
17-May-13		16	31	169.57
18-May-13		17	31	169.62
19-May-13		18	31	169.67
20-May-13		19	31	169.72
21-May-13		20	31	169.77
22-May-13		21	31	169.82
23-May-13		22	31	169.86
24-May-13		23	31	169.91
25-May-13		24	31	169.96
26-May-13		25	31	170.01
27-May-13		26	31	170.06
28-May-13		27	31	170.11
29-May-13		28	31	170.15
30-May-13		29	31	170.20
31-May-13		30	31	170.25
1-June-13	170.3

The application is automatically inwarded in the receiving office/ department and marked to the administrator of that department.

Ans : Yes, however, such NBFC-Factors will need to obtain the necessary authorization from the Foreign Exchange Department of the Bank under FEMA 1999 as amended and adhere to all the FEMA regulations in this regard.

While RBI will facilitate the trading platform for buying and selling of G-Secs, RBI shall not have any relationship, direct or otherwise, with any of the GAH granted access to NDS-OM Web. Further, the RBI has no role in any possible disputes between GAH and PM.

Ans : Yes NBFCs and NBFC-IFCs need to take prior approval from the Reserve Bank for sponsoring IDFs.

Reserve Bank of India (RBI) has authorised various types of payment systems to enable transfer of funds. You may refer to the following link on RBI website to get overview of various payment systems available in India:

/en/web/rbi/payment-and-settlements

‘Direct from the source system without any manual intervention’ implies that whatever data and information is available in CBS and other IT systems of the banks would be submitted to the regulator without any manual aggregation, conversion or filling of data.  Activities like collecting or collating of data from diverse source systems and compiling them into RBI prescribed formats manually would fall within the meaning of manual intervention.

Ans The receiving branch acknowledges every transaction it receives after crediting the beneficiary’s account. The acknowledgment particulars reach the remitting branch as an inward message on Day 3 of the EFT processing cycle. The remitting branch will, therefore, have precise information as to when the beneficiary’s account was credited.

Permanent Account Number (PAN) is the KYC document for individuals depositing in the scheme. If a declarant does not hold PAN, he shall apply for PAN and provide the details of such PAN application along with acknowledgement number to the bank while making the application. On receipt of PAN, the details may be updated with the bank from which application was made.

All funds held in the same type of ownership at the same bank are added together before deposit insurance is determined. If the funds are in different types of ownership or are deposited into separate banks they would then be separately insured.

Ans. Yes, this is permissible. With effect from July 01, 2016, all eligible current account transactions including trade transactions in “Euro” are permitted to be settled outside the ACU mechanism until further notice.

In connection with private visits abroad, viz., for tourism purposes, etc., foreign exchange up to USD10,000, in any one calendar year may be obtained from an authorised dealer. The ceiling of USD10,000 is applicable in aggregate and foreign exchange may be obtained for one or more than one visit provided the aggregate foreign exchange availed of in one calendar year does not exceed the prescribed ceiling of US$10,000 {The facility was earlier called B.T.Q or F.T.S.}. This limit of USD10,000 can be availed of by a person along with foreign exchange for travel abroad for any purpose, including for employment or immigration or studies. However, no foreign exchange is available for visit to Nepal and/or Bhutan for any purpose.

Ans: No, there is no limit imposed by the RBI for funds transfer through NEFT system. However, a member bank may place amount limits based on its own risk perception with the approval of its Board.

Yes. The prescribed minimum NOF needs to be maintained on an ongoing basis.

The accredited banks are paid remuneration by RBI for conduct of State/Central Government transactions. Such remuneration is called Agency Commission. The rates of agency commission applicable at present (from July 1, 2019) are as under:

No.		Type of Transaction	Unit	Revised Rate
a.	(i)	Receipts – Physical mode	Per transaction	₹ 40/-
	(ii)	Receipts – e-mode *	Per transaction	₹ 9/-
b.	(i)	Payments – Pension	Per transaction	₹ 75/-
	(ii)	Payments – Other than pension	Per ₹ 100 turnover	6.5 paise
*In this context, it may please be noted that ‘Receipts – e-mode’ indicated against Sl. No. a(ii) in the above table would refer to those transactions involving remittance of funds from the remitter’s bank account through internet banking as well as all such transactions which do not involve physical receipt of cash / instruments.

An investor can make only a single bid through an aggregator under this scheme in each specified auction. The aggregator or facilitator through whom the investor bids, will obtain and keep on record an undertaking to the effect that the investor is not making a bid through any other aggregator or facilitator.

Under the One Nation, One Grid project, three CTS grids explained above are to be merged to create a single grid for the nation. Single grid shall benefit customers with faster realisation of outstation cheques. It shall also benefit banks with easier fund management, streamlining of infrastructure and overall efficiency improvements.

The beneficiary has to furnish a mandate to the user institution giving consent to avail the ECS Credit facility. The mandate contains details of his / her bank branch, account particulars and authorises the user institution to afford credit to his / her account with the destination bank branch.

One's complaint will not be considered if:One has not approached his bank for redressal of his grievance first.One has not made the complaint within one year from the date of receipt of the reply of the bank or if no reply is received, and the complaint to Banking Ombudsman is made after the lapse of more than one year and one month from the date of complaint made to the bank.The subject matter of the complaint is pending for disposal / has already been dealt with at any other forum like court of law, consumer court etc.Frivolous or vexatious complaints.The institution complained against is not covered under the scheme.The subject matter of the complaint is not pertaining to the grounds of complaint specified under Clause 8 of the Banking Ombudsman Scheme. If the complaint is for the same subject matter that was settled through the office of the Banking Ombudsman in any previous proceedings.

No. The scheme is not applicable for Treasury Bills.How to participate in the auction ?

Banks may not normally refuse premature withdrawal of term deposits of individuals and Hindu Undivided families, irrespective of the size of the deposit. However, the bank at its discretion, may disallow premature withdrawal of large deposits held by entities other than individuals and Hindu Undivided Families. Banks should notify such depositors of its policy of disallowing premature withdrawals in advance i.e. at the time of acceptance of deposits

No. Remittance of the actual cost of advertisement in Print Media abroad or on Internet is permitted by authorised dealers, subject to payment of applicable taxes, if any.

Real estate sector and Banking are the prohibited sectors for overseas investment. However, Indian banks operating in India can set up JV/WOS abroad provided they obtain clearance under the Banking Regulation Act 1949.

Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development, Government of India, New Delhi.

Ans. On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.

Ans. No.

Ans. i) Inward remittance through normal banking channels, other than remittances received on account of foreign currency loan or investment received from abroad or received for meeting specific obligations by the account holder;

ii) Payments received in foreign exchange by a 100 per cent Export Oriented Unit or a unit in (a) Export Processing Zone or (b) Software Technology Park or (c) Electronic Hardware Technology Park for supply of goods to similar such units or to a unit in Domestic Tariff Area;

iii) Payments received in foreign exchange by a unit in the Domestic Tariff Area for supply of goods to a unit in the Special Economic Zone (SEZ);

iv) Payment received by an exporter from an account maintained with an authorised dealer for the purpose of counter trade. (Counter trade is an arrangement involving adjustment of value of goods imported into India against value of goods exported from India in terms of the Reserve Bank guidelines);

v) Advance remittance received by an exporter towards export of goods or services;

vi) Payment received for export of goods and services from India, out of funds representing repayment of State Credit in U.S. Dollar held in the account of Bank for Foreign Economic Affairs, Moscow, with an authorised dealer in India;

vii) Professional earnings including directors’ fee, consultancy fee, lecture fee, honorarium and similar other earnings received by a professional by rendering services in his individual capacity;

viii) Re-credit of unutilised foreign currency earlier withdrawn from the account;

ix) Amount representing repayment by the account holder's importer customer in respect of trade related loan/advances granted by the exporter (subject to compliance with the extant guidelines) holding EEFC account; and

x) The disinvestment proceeds received by the resident account holder on conversion of shares held by him to ADRs/GDRs under the Sponsored ADR/GDR Scheme approved by the Foreign Investment Promotion Board of the Government of India.

Yes. Banks have been advised to make their USD Cheque Collection process transparent. Various modes of collection along with the timeframe and charges for collection shall be covered therein. Customers could request for any of the collection modes specified in the USD Cheque Collection Policy based on need, convenience and cost involved.

Ans. “Payment Instruction” is defined as any instrument, authorization or order in any form, including by electronic means, to effect a payment by a person to a participant in a payment system or from one participant in such a system to another participant in that system.

The payment instruction can be communicated either manually i.e. through an instrument like a cheque draft, payment order etc. or through electronic means, so that a payment can be made by either a person to the participant in such a system or between two participants.

Ans: In cases of accounts with ASCL above the cut-off where S4A is implemented, both the sustainable and unsustainable debt (Parts A & B) should be counted towards calculating ASCL.

Restructured accounts where cut-off ASCL is achieved/likely to be achieved due to additional finance under the restructuring package under JLF and other RBI frameworks, should not be subjected to disincentive mechanism for the incremental exposure.

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.

Ans. The remitting bank should ensure that LEI information for both sender and beneficiary is captured. Any inward transaction with inappropriate or no LEI should not be rejected by beneficiary bank. However, post-credit, both remitting and beneficiary banks should maintain valid and verified LEI information for all payment transactions of ₹50 crore and above.

Ans. Yes. The merchant is required to provide a printed receipt generated by the PoS terminal. In case the facility is availed along with the purchase of merchandise, the receipt generated shall separately indicate the amount of cash withdrawn.

The facility is no longer available to Resident Indians as the grace period has expired on March 31, 2017 except for the confiscated specified banknotes as per the Specified Bank Notes (Deposit of Confiscated Notes) Rules 2017 notified by GoI on May 12, 2017.

The Resolution Framework may be invoked for resolution of all exposures of lending institutions to eligible borrowers, including investment exposures. However, the Resolution Framework is without prejudice to all applicable guidelines issued by the relevant financial sector regulators and other Departments of the RBI in respect of any particular exposure.

Response: No, card-issuers shall not capitalize i.e., levy interest or any other charges, on the unpaid taxes/levies/charges. As the provision contained under para 9(b)(ii) of the MD became effective from October 01, 2022, card-issuers shall not capitalize unpaid taxes/levies/charges that have been billed from October 01, 2022.

ANS:

In the case of a bank under liquidation, the depositor has to approach the Liquidator of the bank for claim and the Liquidator would settle the claim as per the following procedure

Scenario 1: Claim on deposits covered by DICGC - If the deposits of a customer/depositor were covered by DICGC insurance at the time of transfer to the DEA Fund, then the Liquidator can claim an amount equivalent to what could have been claimed from DICGC (i.e., currently up to ₹5 lakh including accrued interest, if applicable, in same right and capacity^[1]), and then make payment to the depositor. If the above deposit amount is more than the insurance cover of DICGC, then the Liquidator shall claim the amount in excess of DICGC insurance cover (i.e., over and above the ₹5 lakh) only on reimbursement basis. (i.e., the Liquidator will pay such amount to the depositor subject to meeting all the applicable requirements and thereafter submit a claim to DEA Fund for reimbursement)

Illustration 1: A customer/depositor had a deposit claim of ₹4 lakh in a bank (including accrued interest), which is now under liquidation. The deposit was insured by DICGC at the time when the said unclaimed deposit was transferred to the DEA Fund. Now, if he/she claims the same during the liquidation process, the following steps shall be followed:

1. The customer/depositor/ legal heir submits a claim for his/her deposit to the Liquidator.
2. Liquidator raises an equivalent claim of ₹4 lakh from DEA Fund along with necessary supporting documents.
3. DEA Fund will pay an amount equal to the insured deposit to the Liquidator. (In this case, i.e., ₹4 lakh, since DICGC insurance cover is available up to ₹5 lakh).
4. The Liquidator, after receiving the amount from the DEA Fund, will pay to the customer/depositor i.e., ₹4 lakh.

Illustration 2: A customer/depositor had a deposit claim of ₹6 lakh in a bank (including accrued interest), which is now under liquidation. The deposit was insured by DICGC at the time when the unclaimed deposit of his/her was transferred to the DEA Fund. Now, if he/she claims the same during the liquidation process, the following steps shall be followed:

1. The customer/depositor/legal heir submits a claim for his/her deposit to the Liquidator.
2. Liquidator raises an equivalent claim of ₹6 lakh from DEA Fund, along with necessary supporting documents.
3. DEA Fund will pay only an amount equal to the insured deposit to the Liquidator. (In this case, i.e., ₹5 lakh, since DICGC insurance cover is available up to ₹5 lakh).
4. For the remaining amount (i.e., ₹1 lakh) the Liquidator shall make the payment to depositor subject to meeting all the applicable requirements and then claim for the same from DEA Fund by way of reimbursement.

Scenario 2: Claim on deposits not covered by DICGC: In respect of deposits not covered by DICGC^[2] at the time of transfer to DEA Fund, the payment to the Liquidator by DEA Fund shall be made only on reimbursement basis (i.e., the Liquidator can only seek as a reimbursement after settling the amount to the customer/ depositor) as mentioned in Illustration 2(iv) above.

No. The requirement is that not less than 51 per cent of the voting equity shares of the NOFHC shall be held by companies in the Promoter Group, in which the public hold not less than 51 percent of the voting equity of such companies. If 10 independent individuals form a Group, then such a Group cannot satisfy the above criteria laid down for holding the NOFHC. Additionally, such newly formed Promoter Group would not be able to meet one of the ‘Fit and Proper’ criteria, which requires Promoters/Promoter Groups to have a successful track record of running their business for at least 10 years. Essentially, the intention is that existing groups should set up banks and not groups set up for this purpose. However, it is clarified that individuals belonging to the Promoter Group can participate in the voting equity shares of NOFHC. While any such individual along with his relatives (as defined in Section 6 of the Companies Act 1956) and along with entities in which he and / or his relatives hold not less than 50 per cent of the voting equity shares, can hold voting equity shares not exceeding 10 per cent of the total voting equity shares of the NOFHC, all such individuals (along with their relatives and companies as specified above) irrespective of their numbers, cannot hold more than 49 per cent of the voting equity shares of the NOFHC (since the companies forming part of the Promoter Group whereof companies in which the public hold not less than 51 per cent of the voting equity shares shall hold not less than 51 per cent of the total voting equity shares of the NOFHC).[ para 2 ( C ) (ii) (a) and (b) of the guidelines]

The application form will be provided by the issuing banks/SHCIL offices/designated Post Offices/agents. It can also be downloaded from the RBI’s website. Banks may also provide online application facility.

Ans. Yes, it is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS made through Authorized Persons.

Ans: The EMV Chip & PIN card stores card data in a chip, while the data in magnetic stripe card is stored on the magnetic stripe present on the card. In a Contactless NFC card, the card is read by keeping the card near the card reader. The EMV Chip & PIN cards and Contactless NFC cards are considered to be safer when compared to Magnetic Stripe cards.

Ans:The "State" column of the Annex to the circular corresponds to that of the branch, as the borrower's address column inherently captures the State to which the borrower belongs.

Ans.: Asset Management companies (AMCs) are required to submit annual return on Foreign Liabilities and Assets (FLA) through RBI’s online web-based portal ‘FLAIR’ (weblink: https://flair.rbi.org.in) by July 15 of every year.

Ans: In terms of MD-TLE dated September 24, 2021, Primary (Urban) Co-operative Banks (PUCBs), State Co-operative Banks (StCBs) and Central Co-operative Banks (CCBs) have been recognised as eligible transferors of stressed loans. The relevant provisions of circular “Guidelines on Sale of Financial Assets to Securitisation Company/Reconstruction Company (SC/RC) by Multi State Urban Cooperative Banks’ dated March 28, 2014, in terms of which only multistate cooperative banks could sell stressed assets to ARCs have been repealed. Accordingly, all cooperative banks are permitted to transfer stressed assets to ARCs in compliance with the provisions of the MD-TLE and other extant regulatory instructions.

There is a daily transaction limit of ₹60,000 in a day (equivalent to around SGD 1,000) for undertaking cross-border remittance transactions through the UPI-PayNow linkage.

Members of the public can exchange ₹2000 banknotes upto to a limit of ₹20,000/- at a time.

Ans: No. DLG is not permitted on loans arranged on NBFC-P2P platforms.

Ans: The location and addresses of NSBL and Prabhu Money Transfer are available in the Procedural Guidelines for Indo-Nepal Remittance Facility Scheme as also with the NEFT-enabled branches in India. The Procedural Guidelines for Indo-Nepal Remittance Facility Scheme are available on the website of RBI at /documents/87730/39016390/84489.pdf.

Ans. In case of non-fund facilities, the AD banks need to ensure compliance with LEI requirements at the issuance stage itself.

The deposits raised under the framework are covered by DICGC in accordance with the Deposit Insurance and Credit Guarantee Corporation Act, 1961 and the regulations framed thereunder, as amended from time to time.

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.

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.

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.

Ans: No

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

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.

Ans.   A contravener may submit compounding application form along with relevant documents/ Annexures to the Reserve Bank as provided in paragraphs 2.1, 2.2, 2.3 and 2.4 of Directions – Compounding of contraventions under FEMA, 1999.

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.

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

A composite loan limit of Rs.1 crore can be sanctioned by banks to enable the MSME entrepreneurs to avail of their working capital and term loan requirement through Single Window in terms of our Master Direction on lending to the MSME sector dated July 24, 2017. All scheduled commercial banks were advised vide our circular RPCD.SME&NFS. BC.No.102/06.04.01/2008-09 dated May 4, 2009 that the banks which have sanctioned term loan singly or jointly must also sanction working capital (WC) limit singly (or jointly, in the ratio of term loan) to avoid delay in commencement of commercial production thereby ensuring that there are no cases where term loan has been sanctioned and working capital facilities are yet to be sanctioned.

Answer: The following accounts are permitted:

1. Foreign diplomatic missions and diplomatic personnel and their family members in India may open rupee deposits with an AD Bank.

2. Diplomatic missions and diplomatic personnel can open special rupee accounts namely Diplomatic Bond Stores Account to facilitate purchases of bonded stocks from firms and companies who have been granted special facilities by customs authorities for import of stores into bond, subject to conditions. The funds in the account may be repatriated outside India without the approval of Reserve Bank.

3. Diplomatic missions, diplomatic personnel and non-diplomatic staff, who are the nationals of the concerned foreign countries and hold official passport of foreign embassies in India can open foreign currency accounts in India. The account may be held in the form of current or term deposit account, and in the case of diplomatic personnel and non-diplomatic staff, may also be held in the form of savings account Such accounts can be credited by way of inward remittances and transfers (which are collected in India as visa fees) from the rupee account of the diplomatic mission in India. Funds held in such account if converted in rupees shall not be converted back into foreign currency. The funds in the account may be repatriated outside India without the approval of Reserve Bank.

Answer: A resident nominee of an account held outside India has to close the account and bring back the proceeds to India through banking channels

Amendments to the Principal Regulations

1. Notification No. FEMA 10 (R)/(1)/2016-RB dated June 1, 2016

2. G.S.R. No.570(E) dated 01.06.2018

3. G.S.R. No.160(E) dated 27.02.2019

4. Notification No. FEMA 10(R)(2)/2019-RB dated February 27, 2019

5. Notification No. FEMA 10(R)(3)/2024-RB dated April 19, 2024

6. Notification No. FEMA 10(R)(5)/2025-RB dated January 15, 2025

Ans. The customer can furnish one of the following documents or the equivalent e-documents thereof, if the OVD submitted by him to the RE does not contain current address. These documents are deemed to be OVDs for the limited purpose of proof of address:

1. utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill);
2. property or Municipal tax receipt;
3. pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
4. letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave and licence agreements with such employers allotting official accommodation.

However, the customer shall submit OVD with current address within a period of three months of submitting the document specified above.

Ans: Yes, as stated in paragraph 2 (iv) of the circular, RE can levy applicable charges for switching of loans from floating to fixed rate or vice versa and/ or any other service charges/ administrative costs incidental to the exercise of the switchover options and the same shall be transparently disclosed in the sanction letter and also, at the time of revision of such charges/ costs by the RE.

The applicable charges shall be as approved by the board of the RE and shall be displayed on their website as per extant instructions.

Ans: The e₹ pilots are a limited scale, controlled roll-out, to test the technology, architecture, scalability, application, features, use-cases and acceptance of e₹. The pilots aim to test the robustness of the entire process of e₹ creation, distribution, usage, etc.

Ans. In terms of paragraph 29.8 of these Directions, savings bank account can be opened in the name of only those Government Department/ Government Schemes given in Schedule-I of Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2025.

Centralised Receipt and Processing Centre (CRPC) has been set up at RBI, Chandigarh for receiving complaints through physical mode (letter/post). The CRPC undertakes initial scrutiny and processing of these complaints, uploads them on CMS, which are then assigned to Offices of RBI Ombudsmen (ORBIOs) or CEPCs for redressal. Please refer to Question 15 and 16 for further details.

Ans. For transacting at an ATM / WLA, the customer should traditionally have a valid card and Personal Identification Number (PIN). RBI has also allowed card-less withdrawals at ATMs.

Answer: Yes, provided Indian branch of foreign bank is an AD bank. This is subject to approval of Reserve Bank as in the case of other such accounts.

No. Additional penal charges cannot be levied on the earlier outstanding amount of penal charges.

Response: The existing MLTGD are not impacted and will continue to be governed by the extant provisions as contained in the Master Direction. These deposits shall run till maturity unless these are prematurely withdrawn (as per the provisions in para 2.2.2. (e), 2.2.2. (f) and 2.2.2. (g) of the Master Direction – Gold Monetization Scheme, 2015).

Ans : Yes, in addition to the consent of the beneficiaries, the mandate also provides important information related to bank account details etc. which are useful for the user institution to transfer funds to the right accounts . A model mandate form has been prescribed for the purpose and is available in the ECS Credit Procedural Guidelines.

Ans. The remitting customer has to furnish the following information to a bank for initiating an RTGS remittance:

1. Amount to be remitted

2. The account number to be debited

3. Name of the beneficiary bank and branch

4. The IFSC number of the receiving branch

5. Name of the beneficiary customer

6. Account number of the beneficiary customer

7. Sender to receiver information, if any

8. Sender and Beneficiary Legal Entity Identifier (for eligible transactions)

• WPI series is being revised after every 10 or more years (e.g. base year revision in WPI series took place in 1981-82, 1993-94 and 2004-05).

• Any revision in the base year would be tackled by splicing the base years so that a consistent WPI series with the same base year is available for indexation purpose since the issue date of the bond.

Yes. One or more documents can be uploaded along with the application. However each document size should not exceed 1 MB.

PM remains responsible, as the case at present, of all the actions of his GAHs. PM will be responsible for the margin maintenance and settlement of the trades of their GAHs also. Prior to commencement of trade on NDS-OM Web by an eligible authorized GAH user, the PM shall ensure that the various Operational Risk Control Parameters (ORCP) values have been set on NDS-OM Web. For the purpose, PM needs to install an application for its GAHs Management, Risk Management and Bid Management policies and practices. NDS-OM Administrator (CCIL) would create an authorized super-user (Client Head) for the PM for attending to the management activities.

Ans No. It is not necessary for all branches to have computer systems. Branches can send the remittance details to their service branch in paper format (the copies of the EFT Application Forms submitted by the remitting customers accompanied by a Remittance Scroll). The Service branch will make data entry and transmit the funds transfer information electronically to local NCC. But, if a branch has computer facility, it can transmit funds transfer information electronically to its service branch either on a floppy or through a network. This would minimise the data entry work at the service branch.

Yes. If you have deposits with more than one bank, deposit insurance coverage limit is applied separately to the deposits in each bank.

Ans. Detailed operational guidelines are available in A.P.(DIR Series) Circular No. 22 dated March 17, 2020 and Master Direction No.16/2015-16 dated January 1, 2016 on Export of Goods and Services, as amended from time to time.