The franchisers, i.e. ADs Category–I Banks / ADs Category–II / FFMCs are expected to put in place adequate arrangements for reporting of transactions by the franchisees to the franchisers on a regular basis (at least monthly). Regular spot audits of all locations of franchisees, at least once in six months, should be conducted by the franchiser. Such audits should involve a dedicated team and incognito visits should also be used to test the compliance level of the franchisees. A system of annual inspection of the books of the franchisees should also be put in place. The purpose of such inspection is to ensure that the money changing business is being carried out by the franchisees in conformity with the terms of the agreement and prevailing Reserve Bank guidelines and that necessary records are being maintained by the franchisees.

Any person aggrieved by an Award issued under Clause 12 or the decision of the Banking Ombudsman rejecting the complaint for the reasons specified in sub-clause (d) to (g) of Clause 13 of the Banking Ombudsman Scheme 2006 (As amended up to July 1, 2017) can approach the Appellate Authority. The Appellate Authority is vested with a Deputy Governor of the RBI.Other recourse and/or remedies available to him/her as per the law can also be explored. The bank also has the option to file an appeal before the Appellate Authority under the Scheme.

In case the aggregate amount bid is less than the reserved amount all the applicants will be allotted in full and the shortfall amount will be taken to the competitive portion.

No. Loan and guarantee could be extended to an overseas entity only if there is already an equity participation by the Indian party in such entity.

A person coming in to India from abroad can bring in with him Indian currency notes within the limits given below: a. upto Rs. 5,000 from any country other than Nepal or Bhutan, and b. any amount in denomination not exceeding Rs.100 from Nepal or Bhutan.

Before a GAH User can start dealing on the NDS-OM Web Module, the PM has to set certain operational risk controls as well as limits for each GAH/GAH User, since PM will continue to be responsible for the settlement of trades done by such GAHs. Accordingly PMs have the facility to set operational risk controls in respect of their GAHs who would be given access to NDS-OM Web so as to mitigate risk arising out of their GAH trades. Every order inputted by GAH on NDS-OM Web would be subject to validations against each risk control set by PM before being passed on to the common order book of NDS-OM. Risk Management involves PM’s setting risk limits for GAHs before the GAHs can start trading.

Ans. The compounding process is completed within 180 days from the date of receipt of the application complete in all aspects, by the Reserve Bank.

এটিএম থেকে ব্যালেন্সের খোজ করা, বিনামূল্যে এটিএম থেকে চারবার টাকা তোলার সুবিধার মধ্যে ধরা হবে না।

উত্তর. একটি নিজস্ব ব্যাংক এটিএম-এ / অন্য ব্যাংক এটিএম-এ / ডব্লিউএলএ, গ্রাহকরা কার্ডের ব্যবহারের বিষয়ে কার্ড জারি করা ব্যাংকের কাছে একটি অভিযোগ দায়ের করতে পারেন অতি শীঘ্রই ।

Ans. In case of any delay in returning the failed payment, the originating customer is eligible to receive compensation at current repo rate plus 2%.