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પ્રીપેઈડ પેમેન્ટ ઈન્સ્ટ્રુમેન્ટસ (પીપીઆઈ)

50. પીપીઆઈ ઈન્ટરઓપરેબિલિટીની સુવિધા કોણ આપી શકે? +

જવાબ. કોઈ પણ અધિકૃત બેન્ક કે નોન- બેન્ક જારીકર્તા પીપીઆઈ ઈન્ટરઓપરેબિલિટીની સુવિધા આપી શકે છે.

50.Can OBU in India be treated on par with a branch of the bank outside India for the purpose of opening of foreign currency accounts by residents under the Scheme? +

No. For the purpose of the Scheme, an OBU in India is not treated as an overseas branch of a bank in India.

Q.50. What could be some of the indicative criteria that the RBI would consider in determining if an entity/ group has/have “sound credentials and integrity”? +

A. The requirement that Promoters / Promoter Group should have a past record of sound credentials and integrity as a part of ‘Fit and Proper’ criteria is a matter of overall judgment and no indicative criteria can be spelt out. [para 2 (B) of the guidelines]

Q.51 Whether mutual funds are permitted to acquire shares of overseas companies ? +

Reserve Bank has given general permission to mutual funds approved by SEBI to purchase foreign securities, subject to such terms and conditions as may be stipulated.

51. What is the quantum of loans to individuals against security of shares, debentures and PSU bonds if held in physical form and in dematerialized form? +

The loans to individuals against the security of shares, debentures and PSU bonds if held in physical form should not exceed the limit of Rs.10 lakhs per borrower and Rs.20 lakhs if the securities are held in dematerialized form. The maximum amount of finance that can be granted to an individual for IPOs is Rs.10 lakh. The corporates should not be extended finance for investment in other companies’ IPOs and NBFCs should not be provided finance for further lending to individuals for IPOs. Finance extended by a bank for IPOs should be reckoned as an exposure to capital market.

General Information

For further details/guidance, please approach any bank authorised to deal in foreign exchange or contact Regional Offices of the Foreign Exchange Department of the Reserve Bank.

FAQ-as on July 1, 2004

51. Is it mandatory for a PPI issuer to allow interoperability ? +

Ans. Yes, it is mandatory for a PPI issuer to allow interoperability. It is mandatory for the PPI issuer to give the holders of full-KYC PPIs interoperability through authorised card networks and UPI. All modes of acceptance (including QR codes) and PPI issuance are required to be interoperable by March 31, 2022.

Q.51. Could NOFHC itself be a listed entity? +

A. No. NOFHC is to be wholly-owned by the Promoters/Promoter Group. Therefore, it cannot be a listed company. [para 2 (C) (i) of the guidelines]

52. What is the margin stipulated for advances against shares held in physical form and dematerialized form? +

A uniform margin of 40% has been stipulated for all advances against shares.

52. મારી પાસે મિનિમમ ડિટેઈલ પીપીઆઈ છે, પરંતુ ઈન્ટરઓપરેબિલિટીને મંજૂરી મળતી નથી. કેમ? +

જવાબ. ઈન્ટરઓપરેબિલિટી ફક્ત કેવાયસી કોમ્પ્લાયન્ટ પીપીઆઈ માટે મંજૂર છે.

Q.52. Could a non-corporate entity such as an LLP or Trust (public, private or charitable) be permitted as being a part of the Promoter/ Promoter Group for setting up the NOFHC? +

The shares of NOFHC can be held by individuals, corporate entities and companies belonging to the Promoter Group. An LLP and trust do not fall under any of these categories. Therefore, an LLP or trust cannot hold voting equity shares directly in the NOFHC but can hold indirectly through a company in the Promoter Group which holds voting equity shares of the NOFHC.

53. Whether banks can make donations? +

Yes, the profit making banks can make donations during a financial year, aggregating upto one per cent of the published profit of the bank for previous year inclusive of donations made earlier under exempted category and donations to National funds and other funds. Banks should not make donations in excess of prescribed ceiling of one per cent as stated above. Unutilised amount of the permissible limit in a year should not be carried forward to the next year for the purpose of making donations.

53. ઈન્ટરઓપરેબિલિટીનાં માધ્યમ કયાં છે? +

જવાબ. જો પીપીઆઈ વોલેટના સ્વરૂપમાં જારી કરવામાં આવે તે પીપીઆઈમાં ઈન્ટરઓપરેબિલિટી યુપીઆઈ થકી એનેબલ્ડ રહેશે. જો પીપીઆઈ કાર્ડના સ્વરૂપમાં જારી કરવામાં આવે તો કાર્ડ ઈન્ટરઓપરેબિલિટી માટે અધિકૃત કાર્ડ નેટવર્ક સાથે સંલગ્નિત રહેશે.

Q.53. Where shares of a NOFHC are held by public trusts, whose trustee are the promoters, whether the same could be considered under 2(C)(ii)(b) category for considering 51% holding in NOFHC? +

54. Whether loss-making banks can make donations? +

Yes, loss making banks can make donations totaling Rs.5 lakhs only in a financial year.

54. પીપીઆઈને સંડોવતા અનધિકૃત/ છેતરપિંડીની લેણદેણના સંજોગોમાં કયું રક્ષણ ઉપલબ્ધ છે?

જવાબ. નોન- બેન્ક પીપીઆઈ જારીકર્તા પીપીઆઈને સંડોવતા અનધિકૃત / છેતરપિંડીની લેણદેણના સંજોગોમાં ગ્રાહકની લાયેબિલિટી નક્કી કરવાની પ્રક્રિયા અને રકમ સ્પષ્ટ રીતે અધોરેખિત કરશે. બેન્કના પીપીઆઈ જારીકર્તાને ગ્રાહક રક્ષણ- અનધિકૃત ઈલેક્ટ્રોનિક બેન્કિંગ લેણદેણમાં ગ્રાહકોની લાયેબિલિટીને મર્યાદિત કરવા પર બેન્કિંગ નિયમનના વિભાગના પરિપત્રક DBR.No.Leg.BC.78/09.07.005/2017-18 dated July 6, 2017 દ્વારા માર્ગદર્શન આપશે.

Q.54. If a Core Investment Company (CIC), being the promoter, is newly incorporated for holding the NOFHC, would the track record of the Promoter/ Promoter Group in the CIC be considered? +

A. The overall track record of the Promoters/Promoter Group for at least 10 years will be seen. If the Promoters/Promoter Group incorporates a new CIC for the purpose of holding shares in the NOFHC, the track record of the Promoters/Promoter Group setting up the CIC will be seen. [para 2 (B) (b) of the guidelines]

55. Whether overseas branches of the banks can make donations abroad? +

Yes, the overseas branches of the banks can make donations abroad, provided the banks do not exceed the prescribed ceiling of one per cent of their published profit of the previous year.

55. What is the protection available in case of unauthorised transactions involving PPIs issued by non-banks ? +

उत्तर. गैर-बैंक जारीकर्ताओं द्वारा जारी किए गए पीपीआई में अनधिकृत लेनदेन के खिलाफ ग्राहकों (पीपीआई धारकों) की देयता को सीमित करने की रूपरेखा एमडी-पीपीआई के पैरा 17 में दी गई है और यह 01 मार्च 2019 से प्रभावी है। नीचे दिए गए अक्सर पूछे जाने वाले प्रश्न गैर-बैंक पीपीआई जारीकर्ताओं द्वारा जारी पीपीआई से संबंधित हैं।

Q.55. Where the CIC is a listed entity (and meets the owned and controlled by residents test as per the extant DIPP guidelines), would the stated Promoter Group of the CIC for listing purposes be also treated as the Promoter Group for the new bank? +

A. Promoter Group for the purpose of these guidelines will be as per the definition given in Annex I to the guidelines.