Ans. Tokenisation and de-tokenisation can be performed by the authorised card network or by the card issuer. The list of card networks authorised by RBI to operate in India is available on the RBI website at the link /en/web/rbi/-/publications/certificates-of-authorisation-issued-by-the-reserve-bank-of-india-under-the-payment-and-settlement-systems-act-2007-for-setting-up-and-operating-payment-system-in-india-12043.

The G S Act and the G S Regulations do not specify the eligibility criteria for investment in a G-Sec. The eligibility criteria are specified in the respective Government Notifications. Usually any person is eligible to invest in Government securities.

A.(8 to 13) The requirement is that the companies in the Promoter Group 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) (b) of the guidelines]

A company in which public holds 51 per cent need not necessarily be listed. For the purpose of these guidelines, ‘public shareholding’ implies that no person along with his relatives (as defined in Section 6 of the Companies Act, 1956) and entities in which he and / or his relatives hold not less than 50 per cent of the voting equity shares, by virtue of his shareholding or otherwise, exercises ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) over the company.

Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s).

Ans. There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through, all sources in India during a financial year should be within the cumulative limit of USD 2,50,000.

Once a remittance is made for an amount up to USD 2,50,000 during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country.

Ans: A CP transaction is a transaction that is carried out through physical presence of card at the point of transaction. It is also known as face-to-face or a proximity payment transaction. An example is a transaction carried out at an ATM or a PoS terminal. A CNP transaction does not require the card to be physically presented at the point of transaction. It is also called as a remote transaction. An example is an online transaction or a mobile banking transaction using the card.

Ans:No, details in the "Guarantor Name (wherever applicable)" column should be limited to guarantors who have created a security interest in favor of the RE and whose assets are possessed under the Act.

Ans.: The submission of Annual Return on FLA is mandatory under the Foreign Exchange Management Act (FEMA), 1999 [vide the RBI Circular: A.P. (DIR Series) Circular No. 45 dated March 15, 2011] for all Indian companies which have received foreign direct investment and/or have made direct investment abroad. Entities can submit the annual return on FLA through the online web-based portal having address https://flair.rbi.org.in.

All the steps for online web-based reporting of annual return on FLA, are provided in user manuals. Entity should read the following documents for further guidance:

(a) User manual on “FLA User Registration Form”.

(b) User manual on reporting of “Annual Return on FLA” for all sections for step-by-step procedure for filing the FLA return.

(c) FAQs for FLA.

Presently, only Person to Person (P2P) remittances for the purposes of “Maintenance of Relatives Abroad” & “Gift” are allowed.

Yes, exchange of ₹2000 banknotes can be made through BCs upto a limit of ₹4000/- per day for an account holder.

Ans: The declaration has to be certified by the statutory auditor of the DLG provider.

Ans: The amount of remittance will flow back to the originating bank branch in India through the NEFT system and the bank branch would then communicate to the remitter about return of the remittance. If the remittance was originated by debit to an account, the returned amount will be credited to that account. If the remittance was made by a walk-in customer through a cash deposit, the remitter has to produce evidence of proof of remittance (counterfoil of the remittance application form) for getting refund.

REs can engage with any appropriate and reputed domestic/ international agency for external review of the Financing Framework, Third-party Verification/ Assurance and Impact Assessment of the green activities/ projects.

Answer: Forex cash, tom and spot transactions can be undertaken for the purpose of buying/selling foreign exchange for permitted current/capital account transactions.

Ans: The principle underlying the Digital Lending Guidelines is that a LSP should not be involved in handling of funds flowing from the lender to the borrower or vice versa. While entities offering only PA services shall remain out of the ambit of ‘Guidelines on Digital Lending’, any PA also performing the role of an LSP must comply with the Digital Lending Guidelines.

Ans: Valuation and accounting methodology as given in the answers to above questions.

Ans. No. All requisite approvals should be obtained, and compliances should be completed before seeking compounding of contravention. Compounding can be done only after all the necessary administrative action is complete as mentioned in Paragraph 4.2 of Directions – Compounding of contraventions under FEMA, 1999, Copies of approvals and other compliances should be enclosed along with the application.

Yes, pension paying banks should compensate the pensioner for delay in crediting pension/ arrears thereof at a fixed interest rate of 8 per cent per annum for the delay after the due date of payment. This compensation should be credited to the pensioner's account automatically without any claim from the pensioner on the same day when the bank affords credit for revised pension/ pension arrears, in respect of all delayed pension payments made since October 1, 2008.

Trade transactions with ACU countries are governed by Regulation 3(1)(A) and Regulation 5(1)(A) of Notification FEMA 14 (R), as amended from time to time and are to be settled under ACU mechanism or as defined therein. Therefore, transactions between ACU countries shall be kept distinct and separate and settled as per extant instructions outside the SNRR arrangement.

Answer: Persons resident in Nepal and Bhutan can open Indian rupee accounts with an authorised dealer in India.