One's complaint will not be considered under the following circumstances:If the System Participant against whom the complaint is registered, is not covered under the Scheme.If one has not approached the System Participant concerned in the first instance for redressal of the grievance.If the subject matter of the complaint is not pertaining to the grounds of complaint specified under Clause 8 of the Scheme.If one has not made the complaint within one year from the date of receipt of reply from the System Participant; or if no reply is received, and the complaint to the Ombudsman is made after the lapse of more than one year and one month from the date of complaint to the System Participant. In exceptional circumstances as decided by the Ombudsman, a complaint made after the period mentioned above may be accepted by the Ombudsman, provided the complaint is made before the expiry of the period of limitation prescribed under the Indian Limitation Act, 1963 for such claims.If the subject matter of the complaint is pending for disposal / has already been dealt with at any other forum like court of law, consumer court etc.If the complaint is for the same subject matter that was settled through the office of the Ombudsman in any previous proceedings.If the complaint is frivolous or vexatious.The complaint falls under the disputes covered under Section 24 of the Payment and Settlement Systems Act, 2007.The complaint pertains to dispute arising from a transaction between customers.

Ans. No. The facility is available irrespective of whether the card holder makes a purchase or not.

Only between SNRR A/Cs of same non-resident person for the purpose for undertaking different categories of transactions such as trade, ECB, Trade credits, etc. Such transfers will not form part of FETERS reporting.

These limits are applicable in respect of audit of all RBI Regulated Entities, irrespective of the asset size.

No. The requirement is that not less than 51 per cent of the voting equity shares of the NOFHC shall be held by companies in the Promoter Group, in which the public hold not less than 51 percent of the voting equity of such companies. If 10 independent individuals form a Group, then such a Group cannot satisfy the above criteria laid down for holding the NOFHC. Additionally, such newly formed Promoter Group would not be able to meet one of the ‘Fit and Proper’ criteria, which requires Promoters/Promoter Groups to have a successful track record of running their business for at least 10 years. Essentially, the intention is that existing groups should set up banks and not groups set up for this purpose. However, it is clarified that individuals belonging to the Promoter Group can participate in the voting equity shares of NOFHC. While any such individual along with his relatives (as defined in Section 6 of the Companies Act 1956) and along with entities in which he and / or his relatives hold not less than 50 per cent of the voting equity shares, can hold voting equity shares not exceeding 10 per cent of the total voting equity shares of the NOFHC, all such individuals (along with their relatives and companies as specified above) irrespective of their numbers, cannot hold more than 49 per cent of the voting equity shares of the NOFHC (since the companies forming part of the Promoter Group whereof companies 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) (a) and (b) of the guidelines]

No, additional risk weight on incremental exposure merely on account of borrower being classified as specified borrower, should not normally result in change in credit rating.

The deposits under this Scheme shall be made in one or more occasions (with effect from February 07, 2017 as per amendment to Pradhan Mantri Garib Kalyan Deposit Scheme, Notification No S.O. 4061 E) in any of the Authorised Banks during normal banking hours on working days [excluding Sundays even if the banking services are offered in select branches on Sundays], till the 31st day of March, 2017.

Response: Yes, unless the potential depositor is already a bank’s KYC compliant customer.

Response

No. The 'Basic Savings Bank Deposit Account' should be considered as a normal banking service available to all customers, through branches.

No, the facility is not available to people who are not Indian citizens.