All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

Yes. Individuals are free to open, hold and maintain foreign currency accounts with a bank outside India for making remittances under the Scheme without the prior approval of RBI. The account can be used for putting through any transaction connected with or arising from remittances under the Scheme.

PDs and banks will furnish information relating to the Scheme to the Reserve Bank of India as and when called for. RBI can also review the guidelines. If and when the guidelines are revised, RBI will notify the modified guidelines.December 15, 2001

Partnership firms engaged in providing professional services, such as chartered accountancy, legal practice and related services, information technology and entertainment software related services and medical and healthcare services are eligible for investment abroad on an automatic basis by filing form ODA with the AD without prior approval of the Reserve Bank up to an amount of US$ 1 million. Partnership firms, which do not conform to the above parameters, are required to obtain specific approval of the Reserve Bank by filing an application in form ODI (to the extent applicable).

సమాధానం.

అధికృత విదేశీ యజమాని యొక్క (ఓవర్ సీస్ ప్రిన్సిపల్, ఒపి) భారతీయ ప్రతినిధులగా పనిచేస్తున్న, బ్యాంకులు మరియు నాన్- బ్యాంక్ పిపిఐ ఇష్యూయర్స్, ఆర్.బి.ఐ యొక్క సొమ్ము బదిలీ సేవా పథకం (మనీ ట్రాన్స్ఫర్ సర్వీస్ స్కీమ్ ,ఎం.టి.ఎస్.ఎస్) కింద, ఇన్ వర్డ్ రెమిటెన్స్ లబ్ధిదారులకు కెవైసి అనువర్తన పిపిఐలను జారీచేసేందుకు అనుమతించబడ్డాయి.

దీని అర్ధమేమిటంటే, ఈ వ్యవహారాలను చేపట్టే సంస్థ, అధిక్రుత పిపిఐ ఇష్యూయర్ మరియు ఎం.టి.ఎస్.ఎస్ (విదేశీ మారకద్రవ్య శాఖ, ఆర్.బి.ఐ చే అనుమతించబడిన) క్రింద భారతీయ ఏజెంట్ అయివుండాలి. ఇన్ వర్డ్ ఎంటిఎస్ఎస్ రెమిటెన్సుల కింద వ్యక్తుల నుంచి ₹50,000 వరకు లబ్ధిదారులకు జారీచేయబడే పిపిఐలకు సొమ్ము చెల్లించుటకు, భర్తీ (లోడింగ్ లేదా రీలోడింగ్) చేయుటకు అనుమతించబడుతుంది. రూ. 50,000కి మించిన ఏక లావాదేవీ మొత్తం, బ్యాంకు అకౌంట్ కి జమచేయాలి.

Yes, part holdings can be redeemed in multiples of one gm.

An investor in Government securities, held in the form of SC, BLA and SGL/CSGL, can avail of the facility of automatic redemption, i.e., the maturity proceeds along with the interest accruing thereon will be credited to the investor's bank account on due date and the investor need not submit physical discharge in respect of such securities provided the investor has furnished his/her bank account details to the RBI or its agent (A model format is given at the end of these FAQs). However, in case, the investor does not submit his/her bank details to the RBI or the Agency Bank, he/she would be required to submit physical discharge towards the Government securities to receive the redemption proceeds.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

The facility under the Scheme is in addition to those already available under Foreign Exchange Management (Current Account Transactions) Rules, 2000.

Direct housing loans to individuals upto Rs.5 lakhs in rural/semi-urban area and Rs.10 lakhs in urban/metropolitan area and loans upto Rs.50,000/- for repairs to damaged houses by individuals are treated as priority sector advances. The rate of interest will be determined according to size of the credit limit. As such the loans upto Rs.2 lakhs should be charged interest as per size of limit i.e. ‘not exceeding PLR’. Loans above Rs. 2 lakhs and upto Rs. 5 lakhs in rural/semi-urban area or Rs.10 lakhs in urban/metropolitan area should be charged interest subject to PLR and the spread announced by the bank concerned. Loan above Rs.5 lakhs in rural/semi-urban area and above Rs.10 lakhs in urban/metropolitan area will fall under category ‘Other non-priority sector personal loans’ in which case banks are free to determine the rates of interest without reference to PLR.37. Consequent on the deregulation of interest rate on advances over Rs. 2 lakhs with effect from October 18, 1994, how banks will bear DICGC Guarantee fee in respect of priority sector advance?As regards DICGC Guarantee fee, the banks have discretion to absorb or to pass on the guarantee fee to the borrower in case of advances over Rs.25,000/- excluding advances to weaker sections. Banks should bear DICGC guarantee fees in respect of advances upto Rs.25,000/- and all advances to weaker sections.38.Whether banks can charge rate of interest beyond the spread announced by them on advances granted to Non-Banking Finance Companies (NBFCs)?Banks have freedom to charge interest rate beyond the declared 'spread' on advances granted to NBFCs for onlending for consumer credit.39. Whether interest on loans and advances could be charged at varying periods ranging from monthly rests to yearly rests?With effect from April 1, 2002 the interest rates on loans and advances should be charged with monthly rests except in the case of agricultural advances( including short term loans and other allied activities) where the existing practice would continue. However the banks should compound the interest at monthly intervals only from April 1, 2003.40. What rate of interest is chargeable on loans/ advances granted to Staff Member/Staff Co-operative Credit Societies?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.IV. Advances against shares and debentures41. Whether banks can sanction loans to Trust and Endowments against the security of shares and debentures?No.42. Whether banks can sanction loans against the equity shares of the banking company to its directors?No.43. Whether any ceiling has been stipulated regarding the banks exposure to the capital markets?Thetotalexposure 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.44. Whether banks can indulge in short sales of shares?No. Banks are prohibited from making any short sales of share45. Whether banks can invest in their subsidiaries?Banks can invest in their subsidiaries. However, such investments will be outside the purview of 5%of the outstanding advances of the previous year and subject to compliance of Section 19 of the Banking Regulation Act, 1949.46. Which of the bills should not be discounted by the banks?The bills covering payment of electricity charges, customs duty, hire purchase/lease rental instalments, sale of securities and other types of financial accommodation should not be discounted by banks.47. Whether banks can invest in Fixed Deposits of non-banking non-financial companies?There is no prohibition on banks' placing of funds with non-banking non-financial companies under their Public Deposit Scheme. However, such investment in the Public Deposit Scheme should be classified by banks as loans/advances in their balance sheet and returns under the Banking Regulation Act, 1949 and fortnightly returns by scheduled commercial banks under Reserve Bank of India Act , 1934.48. Whether banks can purchase letter of allotment in respect of PSU Bonds?Banks can purchase letter of allotment in respect of PSU bonds subject to following conditions.1. The transaction (other than inter bank transaction) should be undertaken only through recognised Stock Exchanges and registered brokers.2. While purchasing the security, the bank should ensure that it gets a clear title to the security and the security is traded in the secondary market.The bank should formulate their own internal guidelines with the approval of the Board for undertaking such transaction.49. What should be the method of valuation for advances against shares/debentures /bonds?Shares/debentures/bonds should be valued at prevailing market prices when they are lodged as security for advances.50. Whether the banks can sanction bridge loans to companies?Yes. For a period not exceeding one year against the expected equity flows/issues as also against the expected proceeds of Non-convertible Debentures, External Commercial Borrowings, Global Depository Receipts and/or funds in the nature of Foreign Direct Investments, provided the bank is satisfied that the borrowing company has made firm arrangements for raising the aforesaid resources/funds. Such loans are required to be accommodated within the ceiling of 5% of outstanding advances of the previous year.51. What is the quantum of loans to individuals against security of shares, debentures and PSU bonds if held in physical form and in dematerialized form?The loans to individuals against the security of shares, debentures and PSU bonds if held in physical form should not exceed the limit of Rs.10 lakhs per borrower and Rs.20 lakhs if the securities are held in dematerialized form. The maximum amount of finance that can be granted to an individual for IPOs is Rs.10 lakh. The corporates should not be extended finance for investment in other companies’ IPOs and NBFCs should not be provided finance for further lending to individuals for IPOs. Finance extended by a bank for IPOs should be reckoned as an exposure to capital market.52. What is the margin stipulated for advances against shares held in physical form and dematerialized form?A uniform margin of 40% has been stipulated for all advances against shares.V. Donations53. Whether banks can make donations?Yes, the profit making banks can make donations during a financial year, aggregating upto one per cent of the published profit of the bank for previous year inclusive of donations made earlier under exempted category and donations to National funds and other funds. Banks should not make donations in excess of prescribed ceiling of one per cent as stated above. Unutilised amount of the permissible limit in a year should not be carried forward to the next year for the purpose of making donations.54. Whether loss-making banks can make donations?Yes, loss making banks can make donations totaling Rs.5 lakhs only in a financial year.55. Whether overseas branches of the banks can make donations abroad?Yes, the overseas branches of the banks can make donations abroad, provided the banks do not exceed the prescribed ceiling of one per cent of their published profit of the previous year.VI. Premises Loan56. What are the norms and procedure laid down by RBI for acquisition of accommodation on lease/rental basis by commercial banks for their use i.e. for office and residence of staff?i) Boards of Directors of the banks should lay down policy and formulate detailed operational guidelines separately in respect of metropolitan, urban, semi-urban and rural areas covering all areas in respect of acquiring premises on lease/rental basis for the bank's use including delegation of powers at various levels. The decision of surrender or shifting of premises other than at rural centres is taken at central office level by a committee of senior executives.ii) Banks' Boards should lay down a separate policy in respect of loans granted to landlords who provide to them premises on lease/rental basis. The rate of interest to be charged on such loans should be fixed as per the lending rate directives issued by RBI with minimum PLR for the loans above Rs. 2 lakhs. The rate of interest may be simple rate or compound rate as per the usual practice of the bank as applicable to other term loans.iii) Banks should evolve a suitable machinery for dealing with genuine grievances of the landlord for expeditious disposal.iv) In case of negotiated contracts in respect of advances to landlords and rental (including taxes etc. and deposits of Rs.25 lakhs and above) in respect of premises taken on lease/rental basis by public sector banks, the cases will be reported to Central Bureau of Investigation as per the extant Government instructions. This requirement is not applicable to banks in the private sector.VII Service charges57. Are there any limit prescribed by the RBI on service charges to be levied by the banks?The banks have been given the freedom to determine the service charges to be levied from their customers and the RBI has not prescribed any ceilings in this regard.

As regards DICGC Guarantee fee, the banks have discretion to absorb or to pass on the guarantee fee to the borrower in case of advances over Rs.25,000/- excluding advances to weaker sections. Banks should bear DICGC guarantee fees in respect of advances upto Rs.25,000/- and all advances to weaker sections.

The investing firm will have to be the member of the respective all-India professional organisation / body and the investment amount should not exceed US$ 1 million. or its equivalent in one financial year.

సమాధానం. లేదు. పిపిఐల్లో ఫండ్స్ ని లోడ్ చేసినప్పుడు క్రెడిట్ ని విభజించడం అనుమతించబడదు. లావాదేవీ సొమ్ము రూ. 50,000/- కంటే ఎక్కువగా ఉంటే, సొమ్ము మొత్తాన్ని బ్యాంకు అకౌంటులో క్రెడిట్ చేయవలసి ఉంటుంది.

A dedicated e-mail has been created by the Reserve Bank of India to receive queries from members of public on Sovereign Gold Bonds. Investors can mail their queries to this email id.

Yes.  In case the maturity proceeds of a Government security exceeds Rupees One lakh,  the investor(s) should furnish the PAN details in advance so as to avail the facility of automatic redemption and receive the maturity proceeds along with the accruing interest thereon in his/her account on due date.

Remittance cannot be made directly or indirectly to Bhutan, Nepal, Mauritius or Pakistan. The facility is also not available for making remittances directly or indirectly to countries identified by the Financial Action Task Force (FATF) as ‘non-co-operative Countries or Territories' viz., Cook Islands, Egypt, Guatemala, Indonesia, Myanmar, Nauru, Nigeria, Phillippines and Ukraine. Further, remittance under the facility cannot be made to individuals and entities identified as posing significant risk or committing acts of terrorism as advised to banks by RBI from time to time.

All regulated financial services entities of the Promoters/Promoter Group in which the Promoters/Promoter Group has ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) have to be held by a NOFHC. Regarding financial groups setting up banks, the existing NBFC must transfer all regulated financial services business to a new company and shares in that new company must be held by the NOFHC. Conversion of the NBFC into a non operating holding company would enable meeting the requirement of para 2(C)(iii) of the guidelines provided the listed non operating holding company meets the requirement of para(C)(ii)(b) of the guidelines i.e. the public hold not less than 51 percent voting equity shares in the company.

Banks have freedom to charge interest rate beyond the declared 'spread' on advances granted to NBFCs for onlending for consumer credit.

A partnership firm which fulfills the conditions stipulated under the automatic route may make the investment without prior approval and submit a report containing the following details through an authorised dealer with in 30 days of making such investments –Name and full address and registration of partnership.Full details of investment abroad.Date and amount of remittance/amount of capitalisation of fees/other entitlements due.Name and address of the foreign concern together with its line of activities.Identification number (if already allotted by the Reserve Bank)

సమాధానం. పిపిఐని ఉపయోగించి చేసే ప్రతి చెల్లింపు లావాదేవీ, కస్టమర్ యొక్క స్పష్టమైన సమ్మతి కలిగి ఉండాలి. అలాగే కార్డుల రూపంలో జారీచేసిన పిపిఐలకు (భౌతిక లేదా వర్చువల్), డెబిట్ కార్డులకు అవసరమైన విధంగా, అదనపు ప్రామాణీకరణ ఫ్యాక్టర్ (అడిషనల్ ఫేక్టర్ ఆఫ్ ఆతెంటికేషన్, ఎఎఫ్ఎ) ఉండితీరాలి (పిపిఐ-ఎంటిఎస్ క్రింద జారీచేసిన పిపిఐలకు తప్ప)

A. Under all circumstances at least 51 per cent of the voting equity shares of the NOFHC shall be held by companies in the Promoter Group, in which public shareholding is not less than 51 percent.[para 2 (C) (ii) (b) of the guidelines]

RBI may call for information from any agent or SGL/CSGL account holder and cause an inspection or scrutiny to be made of any agent or SGL/CSGL account holder. Further, RBI may issue directions to the SGL/CSGL account holders, agents and to any other person dealing with the Government securities.

The individual will have to designate a branch of an AD through which all the remittances under the Scheme will be made. He has to furnish an application-cum-declaration in the specified format regarding the purpose of the remittance and declare that the funds belong to him and will not be used for purposes prohibited or regulated under the Scheme.

With effect from April 1, 2002 the interest rates on loans and advances should be charged with monthly rests except in the case of agricultural advances( including short term loans and other allied activities) where the existing practice would continue. However the banks should compound the interest at monthly intervals only from April 1, 2003.

Partnership firms, which are not eligible under the Automatic Route, are required to make an application in form ODI to the Reserve Bank for necessary approval.

సమాధానం. పిపిఐలో ఆఖరి లోడింగ్/రీలోడింగ్ తేదీ నుంచి ఒక సంవత్సర కనీస చెల్లుబడి అన్ని పిపిఐలకు ఉంటుంది. అయితే సుదీర్ఘ చెల్లుబడి కాలంతో పిపిఐలు జారీచేసేందుకు పిపిఐ ఇష్యూయర్స్ కి స్వేచ్ఛ ఉంది. పిపిఐలు జారీచేసే సమయంలో కస్టమర్ కి పిపిఐ గడువు ముగిసే తేదీని ఇష్యూయర్స్ స్పష్టంగా సూచించాలి.

A. Non-voting equity shares are not a part of the guidelines, but are subject to relevant laws/ SEBI guidelines. Non-voting capital will not be reckoned for the purpose of calculation of promoter shareholding in the NOFHC/ bank.

If any person, for the purpose of obtaining for himself or any other person any title to a Government security, makes false statement then he shall be punishable with imprisonment for a term which may extend to six months, or with fine, or with both. Further, RBI may impose on any person who contravenes any provision of the G S Act, or contravenes any regulation, notification or direction issued under the G S Act, or violates the terms and conditions for opening and maintenance of SGL/CSGL account a penalty not exceeding five lakh rupees and where such contravention is a continuing one, further penalty, which may extend to five thousand rupees for every day after first day during which the contravention continues.

FAQs in respect of Relief/Savings Bonds

As mentioned above, Relief/Savings Bonds are Government securities and they are issued in the form of Stock and BLA by RBI and in the form of BLA by the Agency banks. The provisions of the G S Act and the G S Regulations also apply to them. For the convenience of the Relief/Savings Bonds holders, certain specific aspects have been elaborated here.

The investor is free to book profit or loss abroad and to invest abroad again. He is under no obligation to repatriate the funds sent abroad.

It will be in order for individual partners to hold shares for and on behalf of the firm in overseas JV/WOS provided the entire funding for the investment is done by the firm and if the host country regulations or operational requirements warrant such holding.

సమాధానం. వరుసగా ఒక సంవత్సరం పాటు ఆర్థిక లావాదేవీ లేని పిపిఐని పిపిఐ హోల్డర్ కి నోటీసు పంపిన తరువాత క్రియారహితంగా చేయవచ్చు/పరిగణించవచ్చు. దానిని శ్రద్ధగా పరీక్షించి క్రమబద్ధీకరించిన తరువాత, పునరుద్ధరించవచ్చు.

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.

సమాధానం. ఏ కారణంతోనైనా స్కీమ్ ఆపివేసినా లేదా నిలిపివేయవలసిందిగా ఆర్.బి.ఐ ఆదేశించినా, పిపిఐలో ఉన్న నిల్వను తిరిగిపొందుటకు, పిపిఐ హోల్డర్లను అనుమతించడం జరుగుతుంది.

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.

సమాధానం. విఫలమైన/తిరిగొచ్చిన/తిరస్కరించబడిన/రద్దుచేయబడిన లావాదేవీల విషయంలో మొదట్లో చేసిన చెల్లింపు మేరకు (ఆ వర్గపు పీపీఐలకు నిర్ణయించిన పరిమితులను మించినప్పటికీ), సంబంధిత పిపిఐలకు వెంటనే రిఫండ్ చేస్తారు

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.

సమాధానం. విఫలమైన/తిరిగొచ్చిన/తిరస్కరించబడిన/రద్దుచేయబడిన లావాదేవీల విషయంలో రిఫండ్లను పిపిఐకి క్రెడిట్ చేయరాదు. అదే పేమెంట్ ఇన్స్ట్రుమెంట్ కి తిరిగి క్రెడిట్ చేయవలేను.

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].