No. Charging a rate of interest below prevailing PLR where a bank has not contracted a fixed rate loan, to any borrower at any time would be deemed as violation of our directives. It would not be in order to provide rebate resulting into actual interest rates charged to any borrower working out lower than the PLR. However, there is no objection to allowing a rebate, as long as the effective interest rate is not below the PLR. The spirit behind the advice to banks to declare PLR with the approval of their ALCO/Board is to make it applicable uniformly at all branches and to impart transparency in the matter of lending rates.

The norms for investment under the ADR/GDR stock swap scheme are as follows:the Indian party has already made an ADR and/or GDR issue and such ADRs/GDRs are currently listed on any stock exchange outside India;such investment by the Indian party does not exceed the higher of the following amounts, namely: -amount equivalent of US$ 100 mn. oramount equivalent to 10 times the export earnings of the Indian party during the preceding financial year as reflected in its audited balance sheet, inclusive of all investments made under the automatic route in the same financial year.the ADR and/or GDR issue for the purpose of acquisition is backed by underlying fresh equity shares issued by the Indian party;the total holding in the Indian party by persons resident outside India in the expanded capital base, after the new ADR and/or GDR issue, does not exceed the sectoral cap prescribed under the relevant regulations for such investment;the valuation of the shares of the foreign company is made: -as per the recommendations of the Investment Banker if the shares are not listed on any stock exchange; orbased on the current market capitalisation of the foreign company arrived at on the basis of monthly average price on any stock exchange abroad for the three months preceding the month in which the acquisition is committed and over and above, the premium, if any, as recommended by the Investment Banker in its due diligence report in other cases.

જવાબ. હા. પીપીઆઈ પીપીઆઈ જારીકર્તા દ્વારા એકમેવ ધોરણે અને અન્ય સંસ્થા સાથે કો-બ્રાન્ડેડ ધોરણે જારી કરી શકાય છે.

Yes, nomination facility is available as per the provisions of the Government Securities Act 2006 and Government Securities Regulations, 2007. A nomination form is available along with Application form. An individual Non - resident Indian may get the security transferred in his name on account of his being a nominee of a deceased investor provided that:

1. the Non-Resident investor shall need to hold the security till early redemption or till maturity; and

2. the interest and maturity proceeds of the investment shall not be repatriable.

Yes.  RBI or its agent may permit grant of information or inspection of document relating to Government security on being satisfied that the security in question has stood in the name of the applicant or of a person in whom the applicant has a representative/bonafide interest.

There is no change in the settlement current settlement procedure. The trades concluded by GAH on the NDS-OM Web Module will flow directly in an STP manner to CCIL for settlement. The Primary Member will continue to be responsible for the settlement of such trades as well as maintenance of adequate margins with CCIL in respect of such trades.

Resident individuals can avail of the remittance facility under the Scheme once in a calendar year.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

Modalities for obtaining payment from clients towards the cost of securities, accrued interest, wherever applicable and commission will have to be worked out by the bank or the PD and clearly stated in the contract made for the purpose with the client.

No. The banks need not charge a uniform rate of interest even under a consortium arrangement. Each member bank should charge rate of interest on the portion of the credit limits extended by them to the borrowers subject to their PLR.

An applicant company satisfying the above norms may make such investment on an automatic basis and subsequently report the same in form ODG to the Reserve Bank.

જવાબ. કો- બ્રાન્ડિંગ પાર્ટનર ભારતમાં રચાયેલી અને કંપની ધારા 1956/ કંપની ધારા 2013 હેઠળ નોંધણીકૃત કંપની રહેશે. કો- બ્રાન્ડિંગ પાર્ટનર બેન્ક હોય તો તે આરબીઆઈ દ્વારા લાઈસન્સધારક બેન્ક રહેશે. કો- બ્રાન્ડિંગ વ્યવસ્થા બેન્ક અને નો- બેન્ક સંસ્થા વચ્ચે હોય તો બેન્ક પીપીઆઈ જારીકર્તા રહેશે. બંને કિસ્સામાં સંસ્થાઓ નોન- બેન્ક હોય તો બેમાંથી એક પોતાની વચ્ચે જારીકર્તાની ભૂમિકામાં અગાઉથી પૂર્વનિયુક્ત કરાશે.

Yes. The bonds can be held in demat account. A specific request for the same must be made in the application form itself. Till the process of dematerialization is completed, the bonds will be held in RBI’s books. The facility for conversion to demat will also be available subsequent to allotment of the bond.

A trade concluded on the NDS-OM Web Module need not be reported again on the PDO-NDS Module.

This facility is available for making remittance/s for any permissible current or capital account transaction or a combination of both. It is not available for purposes specifically prohibited (Schedule I) or regulated by the Government of India (Schedule II) of Foreign Exchange Management (Current Account Transactions) Rules, 2000.

Yes. Pledge, hypothecation or lien may be created in respect of Government securities held in the form of SC, BLA, SGL/CSGL and the holder of Government securities in such forms may avail of loan facility by keeping such securities as collateral towards loan, subject to the stipulation mentioned in Question No. 34. However, Government securities issued in the form of GPN and bearer bonds are not eligible for creation of pledge, hypothecation or lien.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

Yes, such requests are considered by the Special Committee on case-to-case basis. Indian companies desirous of making such investment are required to submit an application in form ODB to Reserve Bank for the purpose.

જવાબ. બે ભાગીદારો વચ્ચે એકની પીપીઆઈ જારીકર્તા તરીકે નિયુક્તિ કરાશે, જે કો- બ્રાન્ડેડ પીપીઆઈ સંબંધી સર્વ ગ્રાહક સેવા પાસાંને પહોંચી વળવા માટે જવાબદાર રહેશે.

Yes. Individuals are free to use this Scheme to acquire and hold immovable property, shares or any other asset outside India without prior approval of RBI.