Ans: If the remitting customer maintains an account with a bank branch in India, there is no need for any additional information, documents or identification. Else, the remitter has to submit documents for proof of identification such as Passport / Permanent Account Number / Driving License / Telephone Bill / Certificate of Identification issued by his employer with photograph and other details. The information will be captured in the NEFT system as part of compliance with Know Your Customer (KYC) requirements. Complete address and telephone / mobile number of the beneficiary in Nepal will also be required.

CTS enables fast and cheap realisation of funds to customers as compared to traditional mechanisms. Under grid-based CTS clearing, all cheques drawn on bank branches falling within in the grid jurisdiction are treated and cleared as local cheques. No outstation cheque collection charges to be levied if the collecting bank and the paying bank are located within the jurisdiction of the same CTS grid even though they are located in different cities.

CTS also benefits issuers of cheques. The Corporates if needed can be provided with images of cheques by their bankers for internal requirements, if any.

Ans : The User intending to effect payments through ECS Credit has to submit details of the beneficiaries (like name, bank / branch / account number of the beneficiary, MICR code of the destination bank branch, etc.), date on which credit is to be afforded to the beneficiaries, etc., in a specified format (called the input file) through its sponsor bank to one of the ECS Centres where it is registered as a User.

The bank managing the ECS Centre then debits the account of the sponsor bank on the scheduled settlement day and credits the accounts of the destination banks, for onward credit to the accounts of the ultimate beneficiaries with the destination bank branches.

Further details about the ECS Credit scheme are contained in the Procedural Guidelines and available on the website of Reserve Bank of India at http://www.rbi.org.in/Scripts/ECSUserView.aspx?Id=1

The Banking Ombudsman can receive and consider any complaint relating to the following deficiency in banking services:non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc.;non-acceptance, without sufficient cause, of small denomination notes tendered for any purpose, and for charging of commission in respect thereof;non-acceptance, without sufficient cause, of coins tendered and for charging of commission in respect thereof;non-payment or delay in payment of inward remittances ;failure to issue or delay in issue of drafts, pay orders or bankers’ cheques;non-adherence to prescribed working hours ;failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank or its direct selling agents;delays, non-credit of proceeds to parties' accounts, non-payment of deposit or non-observance of the Reserve Bank directives, if any, applicable to rate of interest on deposits in any savings, current or other account maintained with a bank ;complaints from Non-Resident Indians having accounts in India in relation to their remittances from abroad, deposits and other bank related matters;refusal to open deposit accounts without any valid reason for refusal;levying of charges without adequate prior notice to the customer;Non-adherence to the instructions of Reserve Bank on ATM / Debit Card and Prepaid Card operations in India by the bank or its subsidiariesNon-adherence by the bank or its subsidiaries to the instructions of Reserve Bank on credit card operationsNon-adherence to the instructions of Reserve Bank with regard to Mobile Banking / Electronic Banking service in India by the bankNon-disbursement or delay in disbursement of pension (to the extent the grievance can be attributed to the action on the part of the bank concerned, but not with regard to its employees);Refusal to accept or delay in accepting payment towards taxes, as required by Reserve Bank/Government;Refusal to issue or delay in issuing, or failure to service or delay in servicing or redemption of Government securities;Forced closure of deposit accounts without due notice or without sufficient reason;Refusal to close or delay in closing the accounts;Non-adherence to the fair practices code as adopted by the bank;Non-adherence to the provisions of the Code of Bank's Commitments to Customers issued by Banking Codes and Standards Board of India and as adopted by the bank ;Non-observance of Reserve Bank guidelines on engagement of recovery agents by banks;Non-adherence to Reserve Bank guidelines on para-banking activities like sale of insurance / mutual fund /other third party investment products by banksAny other matter relating to the violation of the directives issued by the Reserve Bank in relation to banking or other services.A customer can also lodge a complaint on the following grounds of deficiency in service with respect to loans and advancesnon-observance of Reserve Bank Directives on interest rates;delays in sanction, disbursement or non-observance of prescribed time schedule for disposal of loan applications;non-acceptance of application for loans without furnishing valid reasons to the applicant; andnon-adherence to the provisions of the fair practices code for lenders as adopted by the bank or Code of Bank’s Commitment to Customers, as the case may be;non-observance of any other direction or instruction of the Reserve Bank as may be specified by the Reserve Bank for this purpose from time to time.The Banking Ombudsman may also deal with such other matter as may be specified by the Reserve Bank from time to time.

Yes. The reserved amount will be within the notified amount.

In terms of GOI notification No.SO.301(E) dated March 30, 2001, banks are free to allow remittance for maintenance of close relatives abroad not exceeding net salary (after deduction of taxes, contribution to provident fund and other deductions) of a person who is resident but not permanently resident in India and is a citizen of a foreign state other than Pakistan. Therefore, independent of QA 22 procedure, they may allow remittance of net salary.

Remittance of partly paid invoices is permissible, subject to total remittance not exceeding the amount indicated in the invoice. In terms of the extant guidelines, although the advertisement charges can be accepted in advance, along with the text of the advertising matter, by the Indian channel agent, the remittance can be made by the AD, only after the advertisements are telecast abroad and invoices raised thereafter, and subject to submission of the requisite documents as stated at (4) above such as invoice, tax declaration/deduction certificate, certificate from Chartered Accountant regarding foreign exchange earning in the past 2 years.

An application for repatriation of balance may be made on plain paper to the concerned Regional Office of Reserve Bank.

1. Any clarification in respect of specific cases could be obtained from the Reserve Bank’s Central office at the following address:

Overseas Investment Division,
Exchange Control Department,
Central office,
Reserve Bank of India,
Mumbai 400001.
or
e-mail: oid@rbi.org.in

Person going abroad for employment can draw foreign exchange upto US$5,000 from any authorised dealer in India.