As on date, four NBFC Ombudsman have been appointed with their offices located at Chennai, Kolkata, New Delhi and Mumbai. The addresses, contact details and territorial jurisdiction of the Ombudsman is provided in the Annex I of the Scheme.

• Inflation component on principal will not be paid with interest but the same would be adjusted in the principal by multiplying principal with index ratio (IR). At the time of redemption, adjusted principal or the face, whichever is higher, would be paid.

• Interest rate will be provided protection against inflation by paying fixed coupon rate on the principal adjusted against inflation.

• An example of cash flows on IIBs is furnished below.

Example 1 (For illustration purpose)
Year	Period	Real Coupon	Inflation Index	Index Ratio	Inflation adjusted principal	Coupon Payments	Principal Repayment
I	II	III	IV	Vti=(IVti/IVt0)	VI=(FV*V)	VII=(VI*III)	VIII
0	28-May-13	1.50%	100	1.00	100.0
1	28-May-14	1.50%	106	1.06	106.0	1.59
2	28-May-15	1.50%	111.8	1.12	111.8	1.68
3	28-May-16	1.50%	117.4	1.17	117.4	1.76
4	28-May-17	1.50%	123.3	1.23	123.3	1.85
5	28-May-18	1.50%	128.2	1.28	128.2	1.92
6	28-May-19	1.50%	135	1.35	135.0	2.03
7	28-May-20	1.50%	138.5	1.39	138.5	2.08
8	28-May-21	1.50%	142.8	1.43	142.8	2.14
9	28-May-22	1.50%	150.3	1.50	150.3	2.25
10	28-May-23	1.50%	160.2	1.60	160.2	2.40	160.2
Example 2 (For illustration purpose)
0	28-May-13	1.50%	100.0	1.00	100	1.50
1	28-May-14	1.50%	106.0	1.06	106	1.59
2	28-May-15	1.50%	111.0	1.11	111	1.67
3	28-May-16	1.50%	104.0	1.04	104	1.56
4	28-May-17	1.50%	98.0	0.98	98	1.47
5	28-May-18	1.50%	99.0	0.99	99	1.49
6	28-May-19	1.50%	105.5	1.06	105.5	1.58
7	28-May-20	1.50%	110.2	1.10	110.2	1.65
8	28-May-21	1.50%	106.5	1.07	106.5	1.60
9	28-May-22	1.50%	104.2	1.04	104.2	1.56
10	28-May-23	1.50%	99.2	0.99	99.2	1.49	100

Bank’s lending to the Micro, Small and Medium enterprises as under is eligible to be reckoned for priority sector advances:

(i) The definition of MSMEs will be as per Government of India, Gazette Notification S.O. 2119 (E) dated June 26, 2020 read with circulars FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020, FIDD.MSME & NFS. BC. No.4/06.02.31/2020-21 dated August 21, 2020, FIDD.MSME & NFS.BC.No.13/06.02.31/2021-22 dated July 07, 2021 and updated from time to time.

(ii) Further, such MSMEs should be engaged in the manufacture or production of goods, in any manner, pertaining to any industry specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 or engaged in providing or rendering of any service or services. All bank loans to MSMEs conforming to the above guidelines qualify for classification under priority sector lending.

Detailed guidelines on lending to the Micro, Small and Medium enterprises are available in our Master Direction FIDD.MSME & NFS.12/06.02.31/2017-18 dated July 24, 2017. The instructions issued by RBI, to banks, on various matters are available on our website www.rbi.org.in.

An application can be any application, addressed to any department of RBI, through which members of the public can apply (except such applications for which specific instructions have been given regarding mode of submission, etc.)

ADF seeks to ensure submission of correct and consistent data from the banks straight from their systems to Reserve Bank without any manual intervention.

Answer: A Foreign Currency Account is an account held or maintained in currency other than the currency of India or Nepal or Bhutan.

To widen the access of foreign exchange facilities to residents and tourists while ensuring efficient customer service through competition.

Ans. Foreign exchange can be purchased from any authorised person, such as an AD Category-I bank and AD Category II. Full-Fledged Money Changers (FFMCs) are also permitted to release exchange for business and private visits.

RBI carries out the general banking business of the governments through its own offices and commercial banks, both public and private, appointed as its agents. Section 45 of the Reserve Bank of India Act, 1934, provides for appointment of scheduled commercial banks as agents at all places or at any place in India, for purposes that it may specify, “having regard to public interest, convenience of banking, banking development and such other factors which in its opinion are relevant in this regard”.

Reserve Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section, Nagpur. It has put in place a well-structured arrangement for revenue collection as well as payments on behalf of Government across the country. A network comprising the Government Banking Divisions of RBI and branches of agency banks appointed under Section 45 of the RBI Act carry out the government transactions. At present all the public sector banks and select private sector banks act as RBI's agents. Only designated branches of agency banks can conduct government banking business.

Ans The EFT system presently covers all the branches of the 27 public sector banks and 55 scheduled commercial banks at the 15 centres (viz., Ahmedabad, Bangalore, Bhubneshwar, Kolkata, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthpuram). Funds transfer is possible from any branch of these banks at these centres to other branch of any bank at these centres both inter-city and intra-city.