'ಬೇಸಿಕ್ ಸೇವಿಂಗ್ಸ್ ಬ್ಯಾಂಕ್ ಡಿಪೋಸಿಟ್ ಅಕೌಂಟ್' ಪ್ರಾರಂಭಿಸುವುದರ ಧ್ಯೇಯವು ಆರ್ಭಿಐಯ ಫೈನಾನ್ಸಿಯಲ್ ಇನ್ಕ್ಲುಶನ್ ಉದ್ದೇಶವನ್ನು ಮುಂದುವರೆಸುವ ಪ್ರಯತ್ನದ ಭಾಗವಾಗಿದೆ. ಹಿಂದಿನ ಡಿಬಿಒಡಿ ಸುತ್ತೋಲೆ DBOD.No.Leg.BC.44/09.07.005/2005-06, ದಿನಾಂಕ 11-11-2005ರ ಪ್ರಕಾರ ತೆರೆದ ಎಲ್ಲ 'ನೊ-ಫ್ರಿಲ್ಸ್' ಖಾತೆಗಳನ್ನು ನಮ್ಮ ಆಗಸ್ಟ್ 10, 2012ರ ಸುತ್ತೋಲೆ DBOD. No. Leg. BC. 35/09.07.005/2012-13ರ ಪ್ಯಾರಾ 2 ರಲ್ಲಿ ಸೂಚಿಸಿದಂತೆ ಬಿಎಸ್ಬಿಡಿಬಿಎ ಖಾತೆಗಳೆಂದು ಮರುನಾಮಕ ಮಾಡಬೇಕು ಮತ್ತು ಆತಸ್ಟ್ 10,2012ರ ನಮ್ಮ ಸುತ್ತೋಲೆ DBOD. No. Leg. BC. 35/09.07.005/2012-13ರ ನಂತರ ತೆರೆದ ಎಲ್ಲ ಹೊಸ ಖಾತೆಗಳನ್ನು ಬ್ಯಾಂಕುಗಳು ಆರ್ಪಿಸಿಡಿ,ಸಿಒಗೆ ಕಳುಹಿಸುವ ಫೈನಾನ್ಸಿಯಲ್ ಇನ್ಕ್ಲುಶನ್ನ ಪ್ರಗತಿಯ ಮಾಸಿಕ ವರದಿಯಲ್ಲಿ ಸೇರಿಸಬೇಕು.

Ans. The remitting customer has to furnish the following information to a bank for initiating an RTGS remittance:

1. Amount to be remitted

2. The account number to be debited

3. Name of the beneficiary bank and branch

4. The IFSC number of the receiving branch

5. Name of the beneficiary customer

6. Account number of the beneficiary customer

7. Sender to receiver information, if any

8. Sender and Beneficiary Legal Entity Identifier (for eligible transactions)

ಕ್ಲೋಸ್ಡ್ ಸಿಸ್ಟಮ್ ಪಿಪಿಐಗಳು : ಈ ಪಿಪಿಐಗಳನ್ನು ಆ ಘಟಕದಿಂದ ಮಾತ್ರ ಸರಕುಗಳು ಹಾಗೂ ಸೇವೆಗಳನ್ನು ಖರೀದಿಸಲು ಅನುಕೂಲವಾಗುವಂತೆ ಒಂದು ಘಟಕದಿಂದ ನೀಡಲಾಗುತ್ತದೆ ಹಾಗೂ ಹಣ ಹಿಂಪಡೆಯಲು ಅನುಮತಿಸುವುದಿಲ್ಲ . ಈ ಉಪಕರಣಗಳನ್ನು ಮೂರನೇಯ ವ್ಯಕ್ತಿಗಳ ಸೇವೆಗಳಿಗಾಗಿ ಪಾವತಿಸುವುದಕ್ಕಾಗಿ ಅಥವಾ ಹಣ ಸಂದಾಯಕ್ಕಾಗಿ ಬಳಸಲಾಗದ ಕಾರಣ, ಅಂತಹ ಉಪಕರಣಗಳ ನೀಡಿಕೆ ಹಾಗೂ ಕಾರ್ಯಾಚರಣೆಯನ್ನು ಆರ್ಬಿಐ ಅನುಮೋದನೆ/ ಅಧಿಕೃತತೆಯ ಅಗತ್ಯವಿರುವ ಪೇಮೆಂಟ್ ಸಿಸ್ಟಮ್ ಎಂದು ವರ್ಗೀಕರಿಸಲಾಗಿಲ್ಲ.

ಸೆಮಿ- ಕ್ಲೋಸ್ಡ್ ಸಿಸ್ಟಮ್ ಪಿಪಿಐಗಳು: ಈ ಪಿಪಿಐಗಳನ್ನು ಬ್ಯಾಂಕುಗಳು [ಆರಬಿಐನಿಂದ ಅನುಮೋದಿತ] ಹಾಗೂ ಬ್ಯಾಂಕೇತರರು[ ಆರ್ಬಿಐನಿಂದ ಅಧಿಕೃತ ಅಧಿಕಾರ ಪಡೆದ ] ಹಣಕಾಸು ಸೇವೆಗಳು,ಹಣ ರವಾನೆ ಸೌಲಭ್ಯಗಳು, ಮುಂತಾದವುಗಳನ್ನೊಳಗೊಂಡು , ಸರಕುಗಳು ಹಾಗೂ ಸೇವೆಗಳನ್ನು ಖರೀದಿಸುವುದಕ್ಕಾಗಿ,ಸ್ಪಷ್ಟವಾಗಿ ಗುರುತಿಸಲಾದ ವ್ಯಾಪಾರ ಸ್ಥಳಗಳು/ಸಂಸ್ಥೆಗಳ ಸಮೂಹದಲ್ಲಿ ನೀಡಲಾಗುತ್ತದೆ, ಪಿಪಿಐಗಳನ್ನು ಪಾವತಿ ಉಪಕರಣಗಳಂತೆ ಸ್ವೀಕರಿಸಲು ನೀಡಿಕೆದಾರರೊಂದಿಗೆ [ ಅಥವಾ ಪೇಮೆಂಟ್ ಎಗ್ರಿಗೇಟರ್/ಪೇಮೆಂಟ್ ಗೇಟ್ವೇ ಮೂಲಕ ಒಪ್ಪಂದ ]ನಿರ್ದಿಷ್ಟ ಒಪ್ಪಂದವನ್ನು ಹೊಂದಿರುತ್ತದೆ. ಈ ಉಪಕರಣಗಳನ್ನು ಬ್ಯಾಂಕುಗಳು ಅಥವಾ ಬ್ಯಾಂಕೇತರರು ನೀಡಿರುವುದನ್ನು ಪರಿಗಣಿಸದೇ ನಗದು ಹಿಂಪಡೆಯುವಿಕೆಯನ್ನು ಅನುಮತಿಸುವುದಿಲ್ಲ.

ಓಪನ್ ಸಿಸ್ಟಮ್ ಪಿಪಿಐಗಳು : ಈ ಪಿಪಿಐಗಳನ್ನು ಬ್ಯಾಂಕುಗಳು [ಆರ್ಬಿಐ ಅನುಮೋದಿತ] ಮಾತ್ರ ನೀಡುತ್ತವೆ ಹಾಗೂ ಹಣಕಾಸು ಸೇವೆಗಳು,ಹಣ ರವಾನೆ ಸೌಲಭ್ಯಗಳು, ಮುಂತಾದವುಗಳನ್ನೊಳಗೊಂಡು , ಸರಕುಗಳು ಹಾಗೂ ಸೇವೆಗಳನ್ನು ಖರೀದಿಸುವುದಕ್ಕಾಗಿ ಯಾವುದೇ ವ್ಯಾಪಾರಿಗಳಲ್ಲಿ ಬಳಸಲಾಗುತ್ತದೆ. ಇಂತಹ ಪಿಪಿಐಗಳ ಮೂಲಕ ಎಟಿಎಮ್ಗಳು /ಪಾಯಿಂಟ್ಸ್ ಆಫ್ ಸೇಲ್ [ಪಿಒಎಸ್]ಟರ್ಮಿನಲ್ಸ್ /ಬಿಝ್ನೆಸ್ ಕರೆಸ್ಪಾಂಡೆಂಟ್ಸ್[ಬಿಸಿಗಳು]ಗಳಲ್ಲಿ ನಗದು ಹಿಂಪಡೆತವನ್ನು ಅನುಮತಿಸಲಾಗುತ್ತದೆ.

Ans. In TReDS, FU can be created either by the MSME seller or the buyer. If MSME seller creates it, the process is called factoring; if the same is created by corporates or other buyers, it is called as reverse factoring.

Response: The scheme envisages the following types of deposits –

In terms of the Specified Bank Notes (Deposit of Confiscated Notes) Rules 2017 notified by GoI on May 12, 2017, where specified bank notes have been confiscated or seized by a law enforcement agencies or produced before a court on or before the 30th day of December 2016, such specified bank notes may be tendered for deposit in a bank account or exchange of the value thereof with legal tender, subject to the following conditions, namely:—

(a) in case confiscated specified bank notes are returned by the court to a person who is a party in case pending before that court, then, the person shall be entitled, on production of the direction of the court, to deposit or exchange such specified bank notes, the serial numbers of which—

(i) have been noted by the law enforcement agency which confiscated or produced them before the court; and

(ii) are mentioned in the direction of the court;

(b) in case specified bank notes are forfeited in favour of the Central Government or the State Government by an order of the court, then, that Government shall be entitled, on production of the direction of the court, to deposit or exchange such specified bank notes; or

(c) in case specified bank notes are placed in custody of any other person by an order of the court on or before the 30th day of December, 2016, then, the person shall be entitled, on production of the direction of the court, to deposit or exchange such specified bank notes, the serial numbers of which—

(i) have been noted by the law enforcement agency which confiscated or produced them before the court; and

(ii) are mentioned in the direction of the court.

These rules do not apply to specified bank notes confiscated or seized after the 30th day of December, 2016.

The RBI Offices where the confiscated Specified Banknotes will be accepted in terms of the Specified Banknotes (Deposit of confiscated Notes) Rules 2017 are:

Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram

• WPI series is being revised after every 10 or more years (e.g. base year revision in WPI series took place in 1981-82, 1993-94 and 2004-05).

• Any revision in the base year would be tackled by splicing the base years so that a consistent WPI series with the same base year is available for indexation purpose since the issue date of the bond.

Cluster based approach to lending is intended to provide a full-service approach to cater to the diverse needs of the MSE sector which may be achieved through extending banking services to recognized MSE clusters. A cluster-based approach may be more beneficial (a) in dealing with well-defined and recognized groups (b) availability of appropriate information for risk assessment (c) monitoring by the lending institutions and (d) reduction in costs.

The banks have, therefore, been advised to treat it as a thrust area and increasingly adopt the same for SME financing. Banks have also been advised that they should open more MSE focussed branch offices at different MSE clusters which can also act as counselling centres for MSEs. Each lead bank of the district may adopt at least one cluster (Refer circular RPCD.SME & NFS.No.BC.90/06.02.31/2009-10 dated June 29, 2010).

Ans. No. All requisite approvals should be obtained and compliances should be completed before seeking compounding of contravention. Compounding can be done only after all the necessary administrative action is complete, by way of obtaining post-facto approvals or unwinding the transactions in cases where such transactions are not permissible under FEMA, 1999. Copies of approvals and other compliances should be enclosed along with the application.

Ans. The residents can hold foreign coins without any limit.

Ans. Detailed operational guidelines are available in A.P.(DIR Series) Circular No. 22 dated March 17, 2020 and Master Direction No.16/2015-16 dated January 1, 2016 on Export of Goods and Services, as amended from time to time.

Answer: Persons resident in Nepal and Bhutan can open Indian rupee accounts with an authorised dealer in India.

A.(8 to 13) The requirement is that the companies in the Promoter Group in which the public hold not less than 51 per cent of the voting equity shares shall hold not less than 51 per cent of the total voting equity shares of the NOFHC.[ para 2 (C) (ii) (b) of the guidelines]

A company in which public holds 51 per cent need not necessarily be listed. For the purpose of these guidelines, ‘public shareholding’ implies that no person along with his relatives (as defined in Section 6 of the Companies Act, 1956) and entities in which he and / or his relatives hold not less than 50 per cent of the voting equity shares, by virtue of his shareholding or otherwise, exercises ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) over the company.

Ans. Details of types of membership in RTGS are available in chapter 4 of RTGS System Regulations. The type of membership in RTGS for non-banks PSPs will be decided by Reserve Bank based on the type of transactions they handle.

Ans. The cardholder can lodge grievance(s) with his / her card issuer. In case the card issuer does not respond within the stipulated time, or the reply so received is not satisfactory, the cardholder shall have recourse to the Reserve Bank - Integrated Ombudsman Scheme, 2021 (as amended from time to time) for redressal.

Response

The aim of introducing 'Basic Savings Bank Deposit Account' is very much part of the efforts of RBI for furthering Financial Inclusion objectives. All the accounts opened earlier as 'no-frills' account vide RPCD Circular dated RPCD.RF.BC.54/07.38.01/2005-06 dated December 13, 2005 and RPCD.CO.No.RRB.BC.58/03.05.33(F)/2005-06 dated December 27, 2005 should be renamed as BSBDA as per the instructions contained in paragraph 2 of our Circular RPCD.CO.RRB.RCB.BC.No.24/07.38.01/2012-13 dated August 22, 2012 and all the new accounts opened since the issue of our circular RPCD.CO.RRB.RCB.BC.No.24 dated August 22, 2012 should be reported under the monthly report of the progress of Financial Inclusion plans submitted by banks to RPCD, CO.

Trade transactions with ACU countries are governed by Regulation 3(1)(A) and Regulation 5(1)(A) of Notification FEMA 14 (R), as amended from time to time and are to be settled under ACU mechanism or as defined therein. Therefore, transactions between ACU countries shall be kept distinct and separate and settled as per extant instructions outside the SNRR arrangement.

One may lodge his/ her complaint with the office of the NBFC Ombudsman under whose jurisdiction, the alleged NBFC branch is situated. (Click here for address and area of operation of the NBFC Ombudsman).

For complaints relating to types of services with centralized operations, complaints may be filed before the NBFC Ombudsman within whose territorial jurisdiction the billing address of the customer is located.

Banks are required to provide both the cheque drop box facility and the acknowledgement facility at their collection counters. No bank branch can refuse to give an acknowledgement to the customer if the latter asks for the same while tendering cheque for collection at the bank branch’s counter.

Ans. Yes, however, BO’s transactions should be restricted to its designated INR account and it should not put any transactions through the agent’s foreign currency account.

A newly licensed FFMC should commence operations within a period of six months from the date of issuance of licence. A copy of the registration under Shops & Establishment Act or any other documentary evidence such as rent receipt, copy of lease agreement, etc. should be submitted to the Reserve Bank before commencement of business.

Ans: Yes, a person who does not have a bank account can remit funds through NEFT to a beneficiary having a bank account, with another NEFT member bank. It can be done by depositing cash at the nearest NEFT enabled branch of any bank, by furnishing additional details such as complete address, telephone number, etc. Such cash remittances will, however, be restricted to a maximum of ₹50,000 per transaction.

Ans. The insurance charges included in the factsheet are only for credit linked insurance product as these charges are linked to the microfinance loan. A borrower would not have incurred these charges if he had not taken the loan. The factsheet should contain information related to only pricing of microfinance loans to keep it uncluttered. Disclosures related to other non-credit products should be provided separately from the factsheet as mentioned under para 7.1.5¹ of the directions. All non-credit products (both financial products such as investment products, insurance products etc. as well as non-financial products such as solar lanterns, sewing machines etc.) should be provided only with the explicit consent of the borrower and REs should ensure that there is no direct or indirect linkage between the loan provided to the borrower and other non-credit products. No non-credit product shall be sold as a pre-condition for the loan product. REs should prominently display² that purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Board-approved Fair Practices Code of the REs, as mentioned under para 7.1.1³ of the directions, should also cover this aspect.

• Investors can invest through the authorised banks and Stock Holding Corporation of India (SHCIL).

• They will fill an application form and submit the same along with other documents and payment to the bank.

• On receipt of money, the bank will register the investor on the RBI’s web-based platform (E-Kuber) and on validation, generate the Certificate of Holding.

Ans : Yes, However, the exposure of sponsor NBFCs / IFCs and non-sponsor NBFCs / IFCs to the equity and debt of the IDFs would be governed by the extant credit concentration norms as given in para 18 of the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

Answer: No