Response

Yes. Please refer to response to the above query (Query No.14). However, if the bank does not levy any additional charges and offers more facilities free than those prescribed under BDBDA a/cs without minimum balance then such accounts can be classified as BSBDA.

Ans : For the purpose of computing capital adequacy of the IDF-NBFC,

1. bonds covering PPP and post commercial operations date (COD) projects in existence over a year of commercial operation shall be assigned a risk weight of 50 percent.

2. All other assets shall be risk weighted as per the extant regulations as given in para 16 of the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

• IIBs would be a G-Sec and issued as part of the approved Government market borrowing programme.

• Therefore, IIBs would automatically get SLR status.

The salient features of the Framework are as under:

(i) Before a loan account of an MSME turns into a Non-Performing Asset (NPA), banks or creditors should identify incipient stress in the account by creating three sub-categories under the Special Mention Account (SMA) category as given in the Framework.

(ii) Any MSME borrower may also voluntarily initiate proceedings under this Framework.

(iii) Committee approach to be adopted for deciding corrective action plan.

(iv) Time lines have been fixed for taking various decisions under the Framework.

Yes. The customer can approach the bank to discount or purchase the cheque. It is the commercial decision to extend this facility to customers based on customer profile. It needs to be appreciated that the charges for purchase / discount will be significantly higher because the bank will be parting with the proceeds before realising the cheques. The charges will vary depending on when the request for discount / purchase is made by the customer and the period for which the bank is out of funds.

On return from a foreign trip travellers are required to surrender unspent foreign exchange held in the form of currency notes within 90days and travellers’ cheques within 180 days of return. However, they are free to retain foreign exchange upto USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their RFC(Domestic) Account without any limit.

Ans: The remitter and the beneficiary can track status of NEFT transaction by contacting NEFT Customer Facilitation Centre (CFC) of their bank, respectively. Details of NEFT CFCs of banks are available on the websites of the respective banks. The details of CFC of member banks are also available on the website of RBI at /en/web/rbi/-/customer-facilitation-centres-neft-updated-as-on-june-16-2023-2070-1.

For the purpose of faster tracking of transaction, you may need to provide few details related to transaction such as Unique Transaction Reference (UTR) number / transaction reference number, date of transaction, sender IFSC, amount, beneficiary name, beneficiary IFSC, etc., to your bank.

Ans. Where the medical expenses in respect of NRI close relative [‘relative’ as defined in Section 2(77) of the Companies Act, 2013) are paid by a resident individual, such a payment being in the nature of a resident to resident transaction may be covered under the term “services related thereto” under Regulation 6(2) of Notification No. FEMA 14(R)/2016-RB dated May 2, 2016.

Yes, the banking system too benefits from ECS Credit Scheme such as – Freedom from paper handling and the resultant disadvantages of handling, presenting and monitoring paper instruments presented in clearing. Ease of processing and return for the destination bank branches. Smooth process of reconciliation for the sponsor banks. Cost effective.

There are two types of GAH users (i) Transactional Users - users who can do order management- place/modify/cancel/hold/release and trade. (ii) View Users- who can only view orders/traded placed by various transactional users under the same GAH.