Primarily, there are two variants of ECS - ECS Credit and ECS Debit. ECS Credit is used by an institution for affording credit to a large number of beneficiaries (for instance, employees, investors etc.) having accounts with bank branches at various locations within the jurisdiction of a ECS Centre by raising a single debit to the bank account of the user institution. ECS Credit enables payment of amounts towards distribution of dividend, interest, salary, pension, etc., of the user institution. ECS Debit is used by an institution for raising debits to a large number of accounts (for instance, consumers of utility services, borrowers, investors in mutual funds etc.) maintained with bank branches at various locations within the jurisdiction of a ECS Centre for single credit to the bank account of the user institution. ECS Debit is useful for payment of telephone / electricity / water bills, cess / tax collections, loan installment repayments, periodic investments in mutual funds, insurance premium etc., that are periodic or repetitive in nature and payable to the user institution by large number of customers etc.

The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services covered under the grounds of complaint specified under Clause 8 of the Banking Ombudsman Scheme 2006 (As amended upto July 1, 2017).

Non-competitive bidding means the bidder would be able to participate in the auctions of dated government securities without having to quote the yield or price in the bid. Thus, he will not have to worry about whether his bid will be on or off-the-mark; as long as he bids in accordance with the scheme, he will be allotted securities fully or partially.

Banks can pay interest on savings bank accounts at quarterly or longer rests.

Authorised dealers can permit such remittance, subject to the position stated for Question 1 above, after netting of the commission of local advertisement agent, as also local television channel agent and applicable taxes. Authorised dealers are required to satisfy themselves about the applicant's eligibility to advertise, bonafides of the transactions, and that they are in compliance with the Government of India Notification No.G.S.R.381(E) dated May 3, 2000 and S.O.301(E) dated March 30, 2001.

Yes. Foreign nationals resident in India can open and maintain resident Rupee account in India.

Funds remitted from outside India or those obtained by sale of foreign exchange brought by the tourists to India can be credited to the NRO account.

A person visiting abroad for medical treatment can also obtain foreign exchange upto the amount recommended by the doctor or hospital abroad for his treatment. This exchange is to meet the expenses involved in treatment and in addition to the amount referred to in paragraph 1 above.

If cheques are lost in transit or in the clearing process or at the paying bank's branch under physical instrument delivery clearing, the bank should immediately bring the same to the notice of the presenting customer (beneficiary)’s notice so that the customer can inform the drawer to record stop payment and can also take care that other cheques issued anticipating the credit arising out of the lost cheque are not dishonoured due to non-credit of the amount of the lost cheques / instruments.

It may however be noted that the probability of losing the physical instrument in the hands of paying bank is remote in the locations covered by CTS as clearing is undertaken on the basis of images. If the instrument is lost after lodging with the collecting bank but before truncating the same for sending through image-based clearing, the presenting bank should follow the procedure indicated above.

The customer is entitled to be reimbursed by banks for related expenses for obtaining duplicate instruments and interest for reasonable delays in obtaining the same.

To further enhance the access of such Gilt Account Holders (herein after referred to as GAHs) to NDS-OM, an internet based web application is provided to such clients who can now have direct access to NDS –OM, the system owned by RBI. The internet based utility permits GAH to directly trade (buying and selling) in Government Securities (G-Sec) in the secondary market. The access is however, subject to controls by respective Primary Member (PM) with whom GAHs have gilt account and current account.

Ans : IFC is a non-deposit accepting loan company which complies with the following :

1. A minimum of 75 per cent of the total assets of an IFC-NBFC should be deployed in infrastructure loans;

2. The company should have minimum net-worth of Rs 300 crore,

3. The CRAR of of the company should be at 15% with Tier I capital at 10% and

4. The minimum credit rating of the company should be at 'A' or equivalent of CRISIL, FITCH, CARE, ICRA, BRICKWORK or equivalent rating by any other accrediting rating agencies.

Their request must be supported by a certificate from their Statutory Auditors confirming the asset pattern of the company as on March 31, of the latest financial year

Ans : Infrastructure Debt Funds (IDFs), can be set up either as a Trust or as a Company. A trust based IDF would normally be a Mutual Fund (MF), regulated by SEBI, while a company based IDF would normally be a NBFC regulated by the Reserve Bank.

Ans. Any person who contravenes any provision of the FEMA, 1999 [except section 3(a)] or contravenes any rule, regulation, notification, direction or order issued in exercise of the powers under this Act or contravenes any condition subject to which an authorization is issued by the Reserve Bank, can apply for compounding to the Reserve Bank. Applications seeking compounding of contraventions under section 3(a) of FEMA, 1999 may be submitted to the Directorate of Enforcement.

All categories of foreign exchange earners, such as individuals, companies, etc., who are resident in India, may open EEFC accounts.

All the farm credit exposures of all lending institutions, including NBFCs, of the nature listed in Paragraph 6.1 of Master Direction FIDD.CO.Plan.1/04.09.01/2016-17 dated July 7, 2016 (as updated), except for loans to allied activities, viz., dairy, fishery, animal husbandry, poultry, bee-keeping and sericulture are excluded from the scope of the Resolution Framework. Subject to the above, loans given to farmer households would be eligible for resolution under the Resolution Framework if they do not meet any other conditions for exclusions listed in the Resolution Framework.

Ans: NEFT offers the following advantages for funds transfer or receipt:

• Round the clock availability on all days of the year.

• Near-real-time funds transfer to the beneficiary account and settlement in a secure manner.

• Pan-India coverage through large network of branches of all types of banks.

• The beneficiary need not visit a bank branch for depositing the paper instruments. Remitter can initiate the remittances from his / her home / place of work using internet banking, if his / her bank offers such service.

• Positive confirmation to the remitter by SMS / e-mail on credit to beneficiary account.

• Penal interest provision for delay in credit or return of transactions.

• No levy of charges by RBI from banks.

• No charges to savings bank account customers for online NEFT transactions.

• The transaction charges have been capped by RBI.

• Besides funds transfer, NEFT system can be used for a variety of transactions including payment of credit card dues to the card issuing banks, payment of loan EMI, inward foreign exchange remittances, etc.

• The transaction has legal backing.

• Available for one-way funds transfers from India to Nepal.

উত্তর. এটিএম যেটি স্থাপন করা, চালানো ইত্যাদি যদি অ-ব্যাংক দ্বারা হয় তবে তাঁদের ডব্লিউএলএ বলা হয়। অ-ব্যাংক এটিএম চালকরা অনুমোদিত হয় ভারতীয় রিজার্ভ ব্যাংকের (আরবিআই) পরিসেবা ও নিষ্পত্তি ব্যবস্থা আইন 2007 এর মাধ্যমে। WLA অনুমোদিত চালকদের তালিকা উপলব্ধ আছে আরবিআই-এর ওয়েবসাইটে যার লিংক হচ্ছে https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043

উত্তর. যেহেতু নিধি নিষ্পত্তি ভারতীয় রিজার্ভ ব্যাংকের খাতার মাধ্যমে হয় সুতরাং দেয় টাকা চূড়ান্ত এবং অপরিবর্তনীয় ।

উত্তর. PPI হচ্ছে একটি দলিল যা দিয়ে বস্তু এবং পরিষেবা ক্রয় করা যায়, আর্থিক পরিষেবা, টাকা প্রেরণের সেবা ইত্যাদির সঙ্গে, সেইসকল মূল্যের বিনিময়ে যা জমাছে এই দলিলে । PPI, যা একটি দেশে জারি করা যেতে পারে তা তিনটি ধরণে বিভক্ত : ক. বন্ধ ব্যবস্থার PPI খ. অর্ধেক-বন্ধ ব্যবস্থা PPI গ. খোলা ব্যবস্থার PPI

না। নো-ফ্রিল অ্যাকাউন্টের ওপর সার্কুলার DBOD.No.Leg. BC.44/09.07.005/2005-06 তারিখ 11 নভেম্বর 2005-এ নির্দেশিকা বলে, ব্যাংকগুলিকে এখন পরামর্শ দেওয়া হয়েছে তাদের সব গ্রাহককে একটি ‘বেসিক সেভিংস ব্যাংক ডিপোজিট অ্যাকাউন্ট’ অফার করতে DBOD.No.Leg.BC.35/09.07.005/20012-13 তারিখ 10 আগস্ট 2012-তে, যা অফার করবে ন্যূনতম সাধারণ সুবিধা যেমন বলা হয়েছে। ব্যাংকগুলির এখন স্থায়ী ‘নো-ফ্রিল’ অ্যাকাউন্টকে ‘বেসিক সেভিস ব্যাংক ডিপোজিট অ্যাকাউন্ট’-এ রূপান্তর করা দরকার।