ଉତ୍ତର. ଯଦି କ୍ରମାଗତ ଏକ ବର୍ଷ ପାଇଁ ପିପିଆଇରେ କୌଣସି ଆର୍ଥିକ ଦେଣନେଣ ହୁଏ ନାହିଁ, ତେବେ ପିପିଆଇ ଧାରକକୁ ଏହାର ସୂଚନା ଦେବା ପରେ ଏହାକୁ ନିଷ୍କ୍ରିୟ କରି ଦିଆଯାଏ । ଏହା କେବଳ ବୈଧତା ଏବଂ ପ୍ରଯୁଜ୍ୟ ଯତ୍ନଶୀଳତା ପରେ ପୁନର୍ବାର ସକ୍ରିୟ କରାଯାଇ ପାରିବ ।

The entities/individuals belonging to the Promoters/Promoter Group, which would participate in the voting equity shares of the NOFHC, would have to provide theMemorandum and Articles of Association, financial statements for past ten years and IT returns for last three years, as appropriate, at the time of submission of their application. The last available financial statements in respect of other Group entities, which do not participate in the voting equity shares of the NOFHC will also have to be furnished. The details of the Promoters’ direct and indirect interest in various entities/companies/industries and details of credit/other facilities availed by the Promoters/Promoter Group would be required of all entities. [ para 3 of Annex II to the guidelines]

Yes.  As Relief/Savings Bonds are Government securities, nomination facility is available for these as explained at Question Nos. 17, 18, 19, 20, 21 & 22 above.

Once a remittance is made for an amount upto USD 25,000 during the calendar year, he would not be eligible to make any further remittances under this route, even if the proceeds of the investments have been brought back into the country.

The interest rate directives on bank advances will not be applicable to loans or advances or other financial accommodation made or provided or renewed by a scheduled bank, inter alia, to its own employees. Where the advances are provided by the bank to co-operative credit societies formed by the bank’s staff members for lending to constituents ( i.e. Staff of the bank ) the interest rate directives of the RBI will not apply to such advances.

No.

ଉତ୍ତର. ଯଦି କୌଣସି କାରଣ ବଶତଃ ଯୋଜନା ବନ୍ଦ ହୋଇଛି କିମ୍ବା ଆରବିଆଇ ଦ୍ୱାରା ସ୍ଥଗିତ କରିବାକୁ ନିର୍ଦ୍ଦେଶ ଦିଆଯାଇଛି, ତେବେ ଏହିପରି ପିପିଆଇ ଧାରକମାନଙ୍କୁ ପିପିଆଇ ରେ ବକେୟା ବାଲାନ୍ସ ରିଡିମ କରିବାକୁ ଅନୁମତି ଦିଆଯାଇଥାଏ ।

The entities/individuals belonging to the Promoters/Promoter Group, which would participate in the voting equity shares of the NOFHC, would have to provide theMemorandum and Articles of Association, financial statements for past ten years and IT returns for last three years, as appropriate, at the time of submission of their application. The last available financial statements in respect of other Group entities, which do not participate in the voting equity shares of the NOFHC will also have to be furnished. The details of the Promoters’ direct and indirect interest in various entities/companies/industries and details of credit/other facilities availed by the Promoters/Promoter Group would be required of all entities. [ para 3 of Annex II to the guidelines]

Indian parties which have majority share holding in a foreign entity abroad are required to seek specific approval of Reserve Bank of India for setting up of a second generation company in case:the foreign entity has been in operation for a period of less than two years; orthe Indian party has not repatriated the amount of dividends, fees and royalties due to it from the foreign entity; orproceeds of exports to the foreign entity have not been realised in accordance with the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000; oradditional capital contribution is required from India.

The remittances can be in any currency equivalent to USD 25,000 in a calendar year.

Yes.  The facility of automatic redemption, i.e., the facility to receive maturity proceeds along with interest accruing thereon on due date without the hassle of visiting the RBI/Agency Bank and submitting physical discharge in respect of the maturing Relief/Savings Bonds is available to all the Relief/Savings Bond investors as explained at Question Nos. 36 & 37 above.

No.

The stipulation that investors could invest in equities of overseas listed firms that hold at least 10% in a listed Indian firm which was made in terms of our A.P.(DIR Series) Circular No.66 dated January 13, 2003 continues as an additional facility. Under the current Liberalised Remittance Scheme, no such stipulation has been made.

ଉତ୍ତର. ବିଫଳ / ଫେରସ୍ତ / ଖାରଜ / ବାତିଲ ହୋଇଥିବା ଦେଣନେଣ କ୍ଷେତ୍ରରେ ସମ୍ପୃକ୍ତ ପିପିଆଇକୁ ତୁରନ୍ତ ସେତିକି ପର୍ଯ୍ୟନ୍ତ ଅର୍ଥ-ଫେରସ୍ତର ପ୍ରକ୍ରିୟାକରଣ କରାଯାଏ ଯେତିକି ପିପିଆଇରେ ପ୍ରାରମ୍ଭରେ ଡେବିଟ କରା ଯାଇଥିଲା, ଯଦିଓ ଏହିପରି ପାଣ୍ଠି ଲାଗୁ କରିବା ଫଳସ୍ଵରୂପ ସେହି ପ୍ରକାର / ବର୍ଗର ପିପିଆଇ ପାଇଁ ଧାର୍ଯ୍ୟ ସୀମା ଅତିକ୍ରମ ହୋଇଯାଉ ।

Relief/Savings Bonds provide the investors to opt for cumulative/non-cumulative interest payment. In case of cumulative bonds, the interest is payable along with the principal at the time of redemption. However, in case of non-cumulative bonds, the same is paid at half-yearly intervals. If an investor requires regular income flow then it is suggested that he/she should opt for non-cumulative mode of interest payment. Interest can be paid through interest warrants delivered through registered post or can be credited to the investor's bank account on due date, in case the investor has submitted the bank details as per the ECS Mandate form available in the offices of RBI and the Agency Banks. (A model format is given at the end of these FAQs).

The shares of a JV/WOS can be pledged as a security for availing fund based or non-fund based facility for the concerned entity or for the JV/WOS from an authorised dealer/ public financial institution in India.

A. The NOFHC has to be wholly owned by a single Promoter/Promoter Group ( as per the definition given in the Annex I to the guidelines) and the pattern of shareholding would be as per the provisions laid down at para 2 ( C ) ( ii ) & ( iii) of the guidelines. Two or more separate Groups cannot combine together to set up a NOFHC.

The total exposure including both fund based and non-fund based, to capital market by a bank in all forms covering direct investment by a bank in equity shares, convertible bonds and debentures and units of equity oriented mutual funds; Advances against shares to individuals for investment in equity shares (including IPOs ), bonds and debentures, units of equity-oriented mutual funds etc and secured and unsecured advances to stockbrokers and guarantees issued on behalf of stockbrokers and market makers should be restricted to 5 % of the outstanding advances as on March 31 of the previous year. (including Commercial Paper). Further, for computing the ceiling on exposure to capital market, direct investment in shares by banks will be calculated at cost price of the shares.

ଉତ୍ତର. ଅନ୍ୟ କୌଣସି ଦେୟ ଉପକରଣ ବ୍ୟବହାର କରି ବିଫଳ / ଫେରସ୍ତ / ଖାରଜ / ବାତିଲ ହୋଇଥିବା ଦେଣନେଣ କ୍ଷେତ୍ରରେ ରିଫଣ୍ଡ କୁ ଏକ ପିପିଆଇ ରେ କ୍ରେଡିଟ କରିବା ଉଚିତ୍ ନୁହେଁ ଏବଂ ସେଇ ସମାନ ଦେୟ ଉପକରଣକୁ ଫେରସ୍ତ କରାଯିବା ଉଚିତ ।

A. A Group which does not have any company or which will not be able to have a company with public shareholding of not less than 51 per cent cannot apply for banking licence, since at least 51 per cent of the voting equity shares of the NOFHC have to be held by companies in the Promoter Group, in which public hold not less than 51 per cent of the voting equity shares. If the Promoter Group has a company in which public holding is not less than 51 per cent, at least 51 per cent of the voting equity shares of the NOFHC is required to be held by that company. It is not necessary that all Group companies in which public shareholding is not less than 51% should be shareholders of the NOFHC [para 2 (C) (ii)(b) of the guidelines].