No. It will not be mandatory for the retail investor to maintain a constituent subsidiary general ledger (CSGL) account with a bank or a primary dealer (PD) through whom it proposes to participate in the auction. It will, however, be convenient for the investor to have such an account.

Response

Yes. Such customers should give their consent in writing and they should be informed of the features and extent of services available in BSBDAs.

Yes, the PD/ bank through whom the application is made must clearly indicate such mode of crediting the securities.

Yes. In respect the following categories the banks have freedom to charge interest rate without reference to PLR:Loans covered by refinance schemes of term lending institutions.Interest rates on bank lending to intermediary agencies.Bill discounting by banks.Advances/overdrafts against domestic/NRE/FCNR(B) deposits.Banks are also free to determine the rates of interest without reference to PLR for the following categories:a. Loans for purchase of consumer durables.b. Loans to individuals against shares and debentures /bonds.c. Other non-priority sector personal loans.However, it is not the intention to allow any concessionality in case of such loans and therefore banks should not charge rates below PLR,regardless of the size of the loan amount.

Requests under the normal route are considered by taking into account the prima facie viability of the proposal, business track record of the promoters, experience and expertise of the promoters, benefits to the country, etc.

ଉତ୍ତର. ପିପିଆଇ ବାଲାନ୍ସ ଉପରେ କୌଣସି ସୁଧ ଦିଆଯାଏ ନାହିଁ ।

Interest on the Bonds will be taxable as per the provisions of the Income-tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long terms capital gains arising to any person on transfer of bond.

STRIPS is the acronym for 'Separate Trading of Registered Interest and Principal of Securities'. These are basically "zero-coupon" securities where the investor receives a payment at maturity only. STRIPS allow investors to hold and trade the individual interest and principal components of eligible Government securities as separate securities of varying tenure. They are popular with investors who want to receive a known payment on a specific future date and want to hold securities of desired maturity.

The Primary Member has the right to cancel/hold or release any outstanding order of the GAH. For instance, in case of any connectivity issues at the GAH end, the GAH can request the Primary Member to either cancel or hold his orders. Orders held by the Primary Member can only be released by the Primary Member. Orders placed by the GAH cannot be modified by the Primary Member. Trades once concluded on the NDS OM Web Module cannot be cancelled.

Persons resident in India are permitted to maintain foreign currency accounts in India under following two Schemes: EEFC Accounts:- To avoid exchange loss on conversion of foreign exchange into Indian Rupee & Rupee into foreign exchange, residents can retain upto 50% of foreign currency remittances received from abroad in a foreign currency account, viz., EEFC account, with an authorised dealer in India. Funds held in EEFC account can be utilised for current account transactions and also for approved capital account transactions as specified by the extant Rules/Regulations/Notifications/Directives issued by the Government/RBI from time to time. RFC Accounts :- Returning Indians, i.e., those Indians, who were non-residents earlier, and are returning now for permanent stay, are permitted to open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to keep their foreign currency assets. Assets held outside India at the time of return can be credited to such accounts. The foreign exchange (i) received or acquired as gift or inheritance from a person referred to sub-section (4) of section 6 of FEMA,1999 or (ii) referred to in clause (c) of section 9 of the Act or acquired as gift or inheritance therefrom may also be credited to this account. The funds in RFC account are free from all restrictions regarding utilisation of foreign currency balances including any restriction on investment outside India. The facility is also available to residents provided foreign exchange to be credited to such account is received out of certain specified type of funds/accounts. c. RFC (Domestic)Account:- A person resident in India can open, hold and maintain with an authorized dealer in India, a Resident Foreign Currency (Domestic) Account, out of foreign exchange acquired in the form of currency notes, Bank notes and travellers cheques from any of the sources like, payment for services rendered abroad, as honorarium, gift, services rendered or in settlement of any lawful obligation from any person not resident in India. The account may also be credited with/opened out of foreign exchange earned like proceeds of export of goods and/or services, royalty, honorarium, etc., and/or gifts received from close relatives (as defined in the Companies Act) and repatriated to India through normal banking channels by resident individuals.

At the time of making applications, the Promoters/Promoter Group will have to furnish a road map and methodologies they would adopt to comply with all the requirements of the corporate structure indicated in para 2 (C)(ii) and (iii) of the guidelines and realign the business between the entities to be held under the NOFHC [para 2(C)(iv) of the guidelines] within a period of 18 months. After the ‘in-principle approval’ is accorded by RBI for setting up of the bank, the actual setting up of NOFHC and the bank, re-organization of the Promoter Group entities to bring the regulated financial services entities under the NOFHC as well as realignment of business among the entities under the NOFHC have to be completed within a period of 18 months from the date of in-principle approval or before commencement of banking business, whichever is earlier.

Yes. At the instance of the investor, subsequent conversion to the physical form is allowed.

Yes. The banks may announce different PLRs for credit limits over Rs. 2 lakhs for different maturities provided the transparency and uniformity of treatment originally envisaged continues to be maintained. The banks, which have moved over to declaration of tenor-linked PLRs should always indicate the specific tenor for which the declared PLR is applicable. Banks may announce a separate Prime Term Lending Rate (PTLR) for term loans of three years and above. Banks may also prescribe separate PLRs and spreads over PLRs for loan component and cash credit component.

Proposals under the normal route are approved by the Special Committee on Indian Direct Investment Abroad, which consists of the representatives of the Ministry of Finance, Ministry of External Affairs and Ministry of Commerce of the Government of India and the Reserve Bank of India.

ଉତ୍ତର. ପିପିଆଇ ଗୁଡିକ କାର୍ଡ, ୱାଲେଟ୍, ଏବଂ ଏପରି ଅନ୍ୟ କୌଣସି ରୂପ / ଯନ୍ତ୍ର ଭାବରେ ଜାରି କରା ଯାଇପାରେ ଯାହାର ବ୍ୟବହାର ପିପିଆଇ ପର୍ଯ୍ୟନ୍ତ ପହଞ୍ଚିବା ଏବଂ ଏଥିରେ ଥିବା ପରିମାଣକୁ ବ୍ୟବହାର କରିବା ପାଇଁ କରାଯାଇପାରିବ । ଆଉ ପେପର ଭାଉଚର ଆକାରରେ ପିପିଆଇ ଦିଆଯିବ ନାହିଁ ।

TDS is not applicable on the bond. However, it is the responsibility of the bond holder to comply with the tax laws.

The Primary Member being responsible for the settlement of the trades done by the GAH on the NDS OM Web Based Module, will have a view of the Orders placed by the GAH as well as the trades done by the GAH.

In terms of sub-section 4, of Section (6) of the Foreign Exchange Management Act, 1999, a person resident in India is free to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such person when he was resident outside India or inherited from a person who was resident outside India. (Please also refer to the Liberalised Remittance Facility of USD 25,000 discussed below).

Yes.   A fee of Rupees twenty is payable for renewal, conversion or sub-division of Government security and a fee of Rupees One hundred is payable for issue of a duplicate Government security. However, no fee is payable for conversion of GPN into SC and SGL/CSGL or SC into SGL/CSGL, consolidation of Government securities and renewals due to filling up of interest cages at the back of the GPN or filling up of transfer endorsement cages at the back of the SC.