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.

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.

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.

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dated March 28, 2014, in terms of which only multistate cooperative banks could sell stressed assets to ARCs have been repealed.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.