New FAQ Page 2 - ಆರ್‌ಬಿ‌ಐ

RbiAnnouncementWeb

FAQ DetailPage Breadcrumb

Search Bar

Search Results

FAQs on ECS

Q.19. How does the ECS Debit Scheme work?

Ans : The ECS Debit User intending to collect receivables through ECS Debit has to submit details of the customers (like name, bank / branch / account number of the customer, MICR code of the destination bank branch, etc.), date on which the customer’s account is to be debited, etc., in a specified format (called the input file) through its sponsor bank to the ECS Centre.

The bank managing the ECS Centre then passes on the debits to the destination banks for onward debit to the customer’s account with the destination bank branch and credits the sponsor bank's account for onward credit to the User institution. Destination bank branches will treat the electronic instructions received from the ECS Centre on par with the physical cheques and accordingly debit the customer accounts maintained with them. All the unsuccessful debits are returned to the sponsor bank through the ECS Centre (for onward return to the User Institution) within the specified time frame.

For further details about the ECS Debit scheme, the ECS Debit Procedural Guidelines – available on the website of Reserve Bank of India at http://www.rbi.org.in/Scripts/ECSUserView.aspx?Id=25 may be referred to.

19. Does a franchisee need to adhere to KYC/AML/CFT Guidelines? +

Franchisees are required to strictly adhere to the AML / KYC/ CFT guidelines, as applicable to ADs Category–I Banks / ADs Category – II / FFMCs.

Note: No licence for appointment of franchisees will be issued to any FFMC / non-bank AD Category - II, against whom any major DoE / DRI / CBI / Police case is pending. In case where any FFMC / non-bank AD Category - II has received one-time approval for appointing franchisees and subsequent to the date of approval, any DoE / DRI / CBI / Police case is filed, the FFMC / non-bank AD Category - II should not appoint any further franchisees and bring the matter to the notice of the Reserve Bank immediately. A decision will be taken by the Reserve Bank regarding allowing the FFMC / non-bank AD Category - II to appoint franchisees.

19. Is there any time limit for filing an appeal ? +

One can file the appeal against the award or decision of the Banking Ombudsman rejecting the complaint within 30 days of the date of receipt of the Award, The Appellate Authority may, if he/ she is satisfied that the applicant had sufficient cause for not making an application for appeal within time, also allow a further period not exceeding 30 days.

19. How will the bank or PD make partial allotment? +

It will be responsibility of the bank or PD to appropriately allocate securities to their clients in a transparent manner.How does the settlement take place?

19. Whether banks are permitted to offer differential rate of interest on NRE / FCNR(B) deposits ? +

Yes. Banks are permitted to offer differential rates of interest on NRE term deposits as in the case of domestic term deposits of Rs. 15 lakh and above. Regarding FCNR(B) deposits, banks are now free to decide the currency wise minimum quantum on which differential rate of interest may be offered subject to the overall ceiling prescribed.

Q.19 Is there any relaxation for making investment out of one’s own foreign exchange resources ? +

Yes, the limit of US$ 100 million will not be applicable in case of investments made out of ADR/GDR proceeds and investments could be made up to the total amount raised out of the ADR/GDR proceeds.

19. While going abroad how much Indian currency can be taken out?

A person going out of India can take out with him Indian currency notes within the limits given below: a. upto Rs.5000 to any country other than Nepal or Bhutan, and b. any amount in denomination not exceeding Rs.100 to Nepal or Bhutan.

Q.19. Where can one get more details about compounding? +

Ans. One can visit the Master Direction on Compounding of Contraventions under FEMA, 1999 available on Reserve Bank’s website.

19. ಬಿಎಸ್ಬಿಡಿಎ ಗ್ರಾಹಕರು ತಮಗೆ ಡೆಬಿಟ್ ಕಾರ್ಡ್ ಬೇಡವೆಂದು ನಿರ್ಧರಿಸಿದಲ್ಲಿ, ಬ್ಯಾಂಕು ಬಲವಂತವಾಗಿ ಎಟಿಎಮ್ ಕಾರ್ಡ್ ಕೊಡಬೇಕೇ ? +

ಬಿಎಸ್ಬಿಡಿಎ ಖಾತೆ ತೆರೆಯುವಾಗ ಗ್ರಾಹಕರು ಲಿಖಿತ ಮೂಲಕ ವಿನಂತಿಸಿದರೆ ಎಟಿಎಮ್ ಕಾರ್ಡ್ಗಳನ್ನು ನೀಡಬಹುದು. ಬ್ಯಾಂಕುಗಳು ಎಟಿಎಮ್ ಕಾರ್ಡ್ಗಳನ್ನು ಬಲವಂತವಾಗಿ ಅಂತಹ ಗ್ರಾಹಕರಿಗೆ ನೀಡುವಂತಿಲ್ಲ.

19. ದೂರು ನೀಡಲು ಗ್ರಾಹಕರು ಸಂಪರ್ಕ ಸಂಖ್ಯೆಗಳನ್ನು ಎಲ್ಲಿಂದ ಪಡೆಯಬಹುದು? +

ಉತ್ತರ. ಬ್ಯಾಂಕುಗಳು ಎಟಿಎಮ್ ಆವರಣಗಳಲ್ಲಿ ಸಂಬಂಧಪಟ್ಟ ಅಧಿಕಾರಿಗಳ ಹೆಸರು/ಗಳುಹಾಗೂ ಸಂಪರ್ಕ್ಸಂಖ್ಯೆ/ಗಳು /ಶುಲ್ಕ ರಹಿತ ಸಂಖ್ಯೆಗಳು / ಹೆಲ್ಪ್ ಡೆಸ್ಕ್ ಸಂಖ್ಯೆಗಳನ್ನು ಪ್ರದರ್ಶಿಸಬೆಕಾಗುತ್ತದೆ. ಅಂತೆಯೇ, ಡಬ್ಲ್ಯೂಎಲ್ಎಗಳಲ್ಲಿ , ವಿಫಲ/ವಿವಾದಿತ ವಹಿವಾಟುಗಳಿಗೆ ಸಂಬಂಧಿಸಿದ ಯಾವುದೇ ದೂರನ್ನು ನೀಡುವುದಕ್ಕಾಗಿ ಅಧಿಕಾರಿಗಳ ಸಂಪರ್ಕ ಸಂಖ್ಯೆಗಳು/ ಶುಲ್ಕ ರಹಿತ ಸಂಖ್ಯೆಗಳು / ಸಹಾಯ ವಾಣಿ ಸಂಖ್ಯೆಗಳನ್ನು ಸಹ ಪ್ರದರ್ಶಿಸಬೆಕಾಗುತ್ತದೆ.

19. ‘ನೀಡಿಕೆದಾರರಿಂದ ಸರಿಯಾಗಿ ಪರಿಶೀಲಿಸಲ್ಪಟ್ಟಿದೆ ’ಎಂದರೇನು? ಪಿಪಿಐದಾರರ ಸ್ವಂತ ಬ್ಯಾಂಕ್ ಖಾತೆ ಎಂದು ಪಿಪಿಐ ನೀಡಿಕೆದಾರರು ಹೇಗೆ ಖಚಿತಪಡಿಸಬಹುದು? +

ಉತ್ತರ. ಪಿಪಿಐನೀಡಿಕೆದಾರರು ಬ್ಯಾಂಕ್ ಖಾತೆಯು ಪಿಪಿಐದಾರರಿಗೆ ಸಂಬಂಧಿಸಿದೆ ಎಂದು ಪರಿಶೀಲಿಸುವದಕ್ಕಾಗಿ ಜವಾಬ್ದಾರಿಯನ್ನುಹೊಂದಿದ್ದು ಅದಕ್ಕಾಗಿ ಸೂಕ್ತವಾದ ಪರಿಶೀಲನಾ ವಿಧಾನಗಳನ್ನು ರೂಪಿಸಬಹುದು .

19. Whom can a customer contact, in case of non-credit or delay in credit to the beneficiary account? +

Ans. The customer can contact his / her bank / branch if there is an issue of delay / non-credit to the beneficiary account. The details of Customer Facilitation Centre of member banks are also available on the website of RBI at https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2070.

19. In case only term loan facility of a borrower has been restructured, whether a lender having only working capital exposure to the same borrower is required to create provisions under the Resolution Framework, even if working capital exposure has not been restructured?

Para 17 read with para 21 of the Resolution Framework for COVID-19-related Stress dated August 6, 2020 (RF 1.0) makes signing of ICA mandatory for all the lending institutions who have exposure to the concerned borrower (subject to para 19¹). Since the borrower has opted for restructuring as a consequence of stress in the account, all the exposures to the borrower shall be treated as restructured and provisions shall be held on the entire residual debt, including the working capital facility.

19. At what price the bonds are sold? +

The nominal value of Gold Bonds shall be in Indian Rupees fixed on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewelers Association Limited, for the last 3 business days of the week preceding the subscription period.

19. How does the Appellate Authority deal with the appeal ? +

The appellate authority may act as given under:dismiss the appeal; orallow the appeal and set aside the Award; orsend the matter to the NBFC Ombudsman for fresh disposal in accordance with such directions as the Appellate Authority may consider necessary or proper; ormodify the Award and pass such directions as may be necessary to give effect to the modified award; orpass any other order as it may deem fit.

19. What are the payment options for depositing in PMGKS? +

The deposit shall be made in the form of cash or draft or cheque drawn in favor of the Authorized Bank accepting such deposit or by electronic transfer.

19. Query If a customer of BSBDA agrees not to have ATM Debit card should the bank give ATM debit card by force? +

Response

ATM debit cards may be offered at the time of opening BSBDA and issued if the customer requests for the same in writing. Banks need not force ATM debit cards on such customers.

19. What will be the maturity of IIBs? +

To begin with, IIBs will be issued for 10 years.
As it is advisable to issue IIBs at various maturity points to have benchmarks and cater to diverse market demands, more maturity points may be explored subsequently.

Q.19. What are the RBI guidelines on One Time Settlement Scheme (OTS) for MSEs for settlement of their NPAs ? +

Scheduled commercial banks have been advised in terms of our circular RPCD.SME&NFS. BC.No.102/06.04.01/2008-09 dated May 4, 2009 to put in place a non -discretionary One Time Settlement scheme duly approved by their Boards. The banks have also been advised to give adequate publicity to their OTS policies.

19. Whether a minor can be a nominee? +

Yes. A minor can be a nominee. However, the sole holder or all the joint holders of a Government security may appoint another individual, not being a minor, to receive the proceeds of the Government security on behalf of the nominee in the event of the death of the sole holder or all the joint holders during the minority of the nominee.