Ans. Non-bank PPI issuers shall provide customers with 24x7 access via website / SMS / e-mail / dedicated toll-free helpline for reporting unauthorised transactions and / or loss or theft of the PPI. Further, a direct link for lodging of complaints, with specific option to report unauthorised electronic payment transactions shall be provided by non-bank PPI issuers on the mobile app / home page of their website / any other evolving acceptance mode.

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.[para 2 (C) (ii) of the guidelines]

Ans. On reporting of an unauthorised payment transaction or loss of instrument, non-bank PPI issuers shall take immediate action to prevent further unauthorised payment transactions in the PPI account of the customer. Any further transactions debit on such an instrument will be the liability of the issuer.

Yes, to the extent permissible under the relevant laws. However, it will not be reckoned for the purpose of calculation of promoter shareholding in the NOFHC.

उत्तर. गैर-बैंक पीपीआई जारीकर्ता की ओर से हुई अंशदायी धोखाधड़ी/लापरवाही/कमी के मामलों में ग्राहक की देयता शून्य है। पीपीआई-एमटीएस जारीकर्ता भी ऐसे कृत्यों/घटनाओं के लिए कवर किए जाते हैं।

Yes, to the extent permissible under the relevant laws. However, it will not be reckoned for the purpose of calculation of promoter shareholding in the NOFHC.

Ans. It is always advisable to report any unauthorised transaction in the account of the customer. However, an issuer cannot deny compensation against contributory fraud / negligence / deficiency on the part of the non-bank PPI issuer, on the ground that the customer has not reported any unauthorised transaction in his / her account.

A. The percentage holding of the NOFHC/bank will be computed with reference to the date of the investment.

उत्तर. ऐसे मामलों में 'प्रति लेनदेन ग्राहक दायित्व' गैर-बैंक पीपीआई जारीकर्ता से ग्राहक द्वारा लेनदेन सूचना की प्राप्ति और गैर-बैंक पीपीआई जारीकर्ता को ग्राहक द्वारा अनधिकृत लेनदेन की रिपोर्टिंग के बीच व्यतीत दिनों की संख्या पर निर्भर करेगा। यदि जारीकर्ता को सूचना प्राप्त होने के तीन दिनों के भीतर सूचित किया जाता है, तो ग्राहक की देयता शून्य होगी। इसी तरह, सूचना प्राप्त होने के चार से सात दिनों के बीच रिपोर्ट किए गए ऐसे किसी भी लेनदेन के लिए, ग्राहक की देयता अधिकतम ₹10,000/ तक सीमित होगी। सात दिनों के बाद की गई रिपोर्टिंग वाले मामलों में गैर-बैंक पीपीआई जारीकर्ता की बोर्ड द्वारा अनुमोदित नीति के अनुसार कार्रवाई की जाएगी।

A. As per Para 2 C (vii) of the guidelines, only the regulated financial sector entities in which a Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) will be held under the NOFHC. Thus, the NOFHC does not need to wholly own the regulated financial services entities and direct participation in such entities by non-Promoter Group individuals/ companies is permitted. The pattern of shareholding and the capital requirements in the regulated financial services entities held by the NOFHC shall be as prescribed by the respective sectoral regulators. The FDI limits in such entities would be as per extant FDI policy of the Government of India/ Notifications issued under FEMA. As regards the bank, the foreign shareholding would be as per para 2 (F) of the guidelines.