New FAQ Page 2 - आरबीआय

RbiAnnouncementWeb

FAQ DetailPage Breadcrumb

Search Bar

Search Results

FAQs on ECS

Q.23. Can the mandate once given by a customer be withdrawn or stopped?

Ans : Yes. In case of any need to withdraw or stop a mandate the customer can do so by approaching the user institution to withdraw the mandate. The account holder / customer can also withdraw the mandate / debit instruction directly from his / her banker without involvement of the User institution. The withdrawal instructions of a customer in such cases would be treated equivalent to a ‘stop payment’ instruction in cheque clearing system. However, as a matter of best practice, the customer may also provide prior notice or intimation of mandate withdrawal to the ECS user institution well in time, so as to ensure that the input files submitted by the user institution does not include the ECS Debit details in respect of the withdrawn / stopped mandates, leading to avoidable returns/rejections etc.

23. What is the position of old generation ‘1000 shillings (Ksh)’ banknotes in Kenya? +

With the issuance and launch of the New Generation banknotes, Central Bank of Kenya has advised that in terms of Gazette Notice No. 4849 dated May 31, 2019 from Central Bank of Kenya available at: (http://kenyalaw.org/kenya_gazette/gazette/volume/MTk2Mg--/Vol.CXXI-No.69), and the Press Release dated June 6, 2019 available at: (https://www.centralbank.go.ke/uploads/press_releases/696932423_Press%20Release%20-%20New%20Generation%20Banknotes.pdf), all the currency notes of denomination ‘1000 shillings (Ksh)’ shall cease to be legal tender, and shall no longer be exchanged, with effect from October 1, 2019.

(Published on receipt of request from Central Bank of Kenya)

23. So, how much will be non-competitive bidder pay to buy the securities worth Rs.10,000 above ? +

Price payable for every Rs.100 (face value) is Rs.121.99. Therefore, for securities worth Rs.10,000, he will have to pay (Price x Face value/100) = 121.99 x 10,000/100=Rs.12,199/-Since the coupon on dated GOI securities are payable half yearly, the coupon payment dates for the security are 19 April/ 19 October.Now if the security was paid for (settled) on December 6, 2001, the accrued interest from the last coupon date to the date of settlement viz. from 19 October, 2001 to December 6, 2001, i.e. for 47 days will be 10.71/100 x 47/360x10000=Rs 139.83Hence, the amount payable by the investor will be price plus accrued interest, i.e. Rs12199 +139.83=12,338.83/- (if not rounded off).If the payment is not made on December 6, 2001 but, say, on December 9, 2001, the accrued interest component will be for 50 days instead of 47 days (i.e.3 days more) and it will work out to 10.71/100x50/360 x10,000=Rs.148.75 .The total amount payable by the investor will then be 12,199+148.75=12,347.75/- (if not rounded off)

23. Under what circumstances additional interest over and above the declared rate of interest can be paid in case of FCNR(B) deposits ? +

In respect of deposit accepted in the name of –member or a retired member of the bank’s staff, either singly or jointly with any other member or members of his/her family, orthe spouse of a deceased member or a deceased retired member of the bank’s staff,the bank may, in its discretion, allow additional interest at a rate not exceeding one per cent per annum over and above the rate of interest stipulated.Provided that –the depositor or all the depositors of a joint account is/are non-resident/s of Indian nationality or origin, andthe bank shall obtain a declaration from the depositor concerned that the moneys so deposited or which may, from time to time, be deposited, shall be moneys belonging to the depositor as stated in clause (a) and (b) above.Explanation: The word "family" shall mean and include the spouse of the member/retired member of the bank’s staff, his/her children, parents, brothers and sisters who are dependent on such a member/retired member but shall not include a legally separated spouse.

Q.23 What is the procedure to be followed by a company intending to make investment in a JV/WOS under the automatic route ? +

The company intending to make investment under automatic route is required to fill in the form ODA supported by documents listed therein, i.e., Board Resolution, Statutory Auditor’s certificate, Valuation report (in case of acquisition of an existing company) and approach an Authorised Dealer for making the investment.

23. एनआरईजीए सारख्या विशिष्ट खात्यांमध्ये , जिथे साप्ताहिक वितरणे केली जातात आणि जर महिन्याला पाच आठवडे असतील, तर त्याची परिणती चार पेक्षा अधिक वेळा पैसे काढण्यामध्ये होऊ शकते. अशा प्रकरणी बँका पाच वेळा पैसे काढण्याची परवानगी देऊ शकतात का? +

बीएसबीडीएमध्ये , बँकांनी एटीएम आणि अन्य माध्यमांमधून किमान चार वेळा विनाशुल्क पैसे काढण्याची सुविधा पुरवायला हवी. त्या चार वेळांनंतर पैसे काढताना त्या अतिरिक्त पैसे काढण्यासाठी शुल्क आकारावे की आकारू नये हे बॅंकांच्या विवेकावर सोडण्यात आले आहे. तथापि, बँकांनी ह्यासाठीची मूल्य संरचना रास्त, निष्पक्षपाती आणि पारदर्शक पद्धतीने तयार करायला हवी.

23. एटीएम कार्डची वैधता संपल्यानंतर किंवा ते खाते बंद केल्यास एटीएम कार्डचे काय करावे? +

उत्तर. कार्डची वैधता संपल्यानंतर किंवा ते खाते बंद केल्यास, कार्ड नष्ट करण्यापूर्वी त्याच्या मॅग्नेटिक पट्टीवरून कार्ड कापून त्याचे चार तुकडे करावेत.

23. What are the cash withdrawal limits in case of PPIs issued by non-banks ? +

Ans. In case of non-bank issued PPIs, cash withdrawal is permitted upto a limit of ₹ 2,000/- per transaction within an overall monthly limit of ₹ 10,000/- per PPI across all channels (agents, ATMs, PoS devices, etc.).

23. How can I file complaint under the RB-IOS 2021? +

Ans. Complaints can be filed online on https://cms.rbi.org.in, or through the dedicated e-mail or sent in physical mode to the ‘Centralised Receipt and Processing Centre’ set up at RBI, 4th Floor, Sector 17, Chandigarh – 160 017 in the format given at the following path - https://rbidocs.rbi.org.in/rdocs/content/pdfs/RBIOS2021_121121_A.pdf. A toll-free number – 14448 (9:30 am to 5:15 pm) – is also available for customers to seek assistance in filing complaints and information on grievance redressal, with multi-lingual support.

¹ Para 19. Lenders to the borrower which are other than the lending institutions as per this circular may also sign the ICA, if they so desire. If such lenders sign the ICA, they shall be fully bound by the stipulations of the ICA

² As defined in the Prudential Framework dated June 07, 2019.

³ Para 45. In case of resolution of other exposures, the provisions maintained by the ICA signatories may be reversed as prescribed in Para 44. However, in respect of the non-ICA signatories while half of the provisions may be reversed upon repayment of 20 percent of the carrying debt, the other half may be reversed upon repayment of another 10 per cent of the carrying debt, subject to the required IRAC provisions being maintained.

⁴ As at the time of implementation of the Resolution Plan

⁵ In other cases where a resolution plan is implemented under this facility, the lending institutions, which had signed the ICA within 30 days of invocation, shall keep provisions from the date of implementation, which are higher of the provisions held as per the extant IRAC norms immediately before implementation, or 10 percent of the total debt, including the debt securities issued in terms of para 30, held by the ICA signatories post-implementation of the plan (residual debt).

⁶ However, lending institutions which did not sign the ICA within 30 days of invocation shall, immediately upon the expiry of 30 days, keep provisions of 20 per cent of the debt on their books as on this date (carrying debt), or the provisions required as per extant IRAC norms, whichever is higher. Even in cases where the invocation lapses on account of the thresholds for ICA signing not being met, in terms of para 18, such lending institutions which had earlier agreed for invocation but did not sign the ICA shall also be required to hold 20 percent provisions on their carrying debt.