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Sunday, October 15, 2017

Issues Raised By AIBEA before IBA

CIRCULAR No. 28/31/2017/31                                       14-10-2017


Dear Comrades,

Discussion on Group Medical Insurance Scheme

We are aware that during the last wage revision process, due to the persistent efforts of UFBU, the entire expenses incurred on medical expenses/ hospitalisation reimbursement incurred by the Banks were accounted outside the wage cost negotiated by us as well as the new Group Medical Insurance Scheme was introduced.  Under this Scheme, all employees and officers were covered by a Group Medical Insurance policy with the United India Insurance Company as lead insurer.  

Under this Policy, workman employees were covered upto Rs. 3 lacs and officers upto Rs. 4 lacs with a provision for an additional buffer cover in cases of claims over and above these amounts. The scheme also included payment of Rs. One lac to employees/officers involved in certain critical illness. Under this scheme, the entire premium for the Policy would be paid by the Banks.

After a lot of efforts by UFBU and discussions with IBA, it was agreed that the scheme will be extended to the retirees also subject to payment of the agreed premium.  

Thus, nearly 23 lacs employees, officers, their dependent family members, retirees and their spouse were brought under the coverage of the scheme.

The scheme became effective for employees/officers from 1-10-2015 and for retirees from 1-11-2015.  Last year, the Policy was renewed from 1-10-2016 to 30-9-2017 for employees/officers and from 1-11-2016 to 31-10-2017 for the retirees.

Again, this year, the Policy has been renewed for the workman employees/ officers from 1-10-2017 to 30-9-2018 without any change in the premium.

For the retirees also, the UIIC has agreed to renew the Policy with the same premium rates for those not covered by domiciliary cover but with an enhanced premium for those covered with domiciliary expenses coverage.

In addition, UIIC has also offered a Super Top Up Policy under which additional cover of Rs. 4 lacs for workman retirees and Rs. 5 lacs for officer retirees will be available on payment of the additional premium.

In the meantime, our unions, employees, officers and retirees have been experiencing various difficulties in the implementation of the Scheme at the hands of hospitals, TPAs, UIIC and also with the bank managements.  There have been instances of unilateral rejections of claims, undue delay in settlement of claims, hurdles in availing cashless benefit, one-sided interpretations besides increase in the premium rates.

On our taking up the issue from the UFBU with the IBA during the current wage revision talks, IBA agreed to hold an exclusive meeting to discuss these issues in the presence of UIIC and all the seven TPAs who are dealing with our Policy.

Discussions with IBA:  Accordingly, a special meeting was convened by IBA on 6-10-2017, in which besides representatives of IBA and UFBU, the representatives of UIIC, KM Dastur and TPAs were also present.

During the discussions, we brought to the attention of IBA, UIIC and TPAs the various problems being faced by the employees/officers/retirees.  Some of the important issues raised by us were as under:

  • Copy of the Master Policy should be available to the Unions for their information and pursuing any adverse clause and provisions.
  • The Scheme and Policy should be exactly on the lines of our Settlement
  • The administration and implementation of the scheme to be more friendly to the employees/officers/retirees to remove the present hassles.
  • Proper guidelines should be given for utilisation and availment under the buffer.
  • Brochure must be provided to the employees/officers on the salient features of the scheme as many are not aware of the details.
  • Special communication should be sent to all Banks/branches on the benefit of exgratia for critical illnesses.
  • ID cards should be given to all employees/officers/retirees/family members covered by the Policy.
  • Definition of family should be in conformity with the settlement.
  • Proper clarification of coverage under domiciliary treatment.
  • Premium for retirees to be revised and reduced.
  • Premium for family pensioners, substaff/PTS retirees and pre-1986 retirees to be reduced and lesser than normal premium for other retirees.
  • Synchronization/common date of the policy for employees/officers and retirees.
  • More and more hospitals to be covered under cashless tie-up.
  • Extension of Super Top-up benefit for retirees.
  • Inclusion of dental treatment under the policy
  • Services being rendered by the TPAs to be adequately toned up.
  • Reimbursement of claims within stipulated time and without any delay.
  • Availability of TPA representatives on Sundays and holidays.
  • Managements should liaise with TPAs/UIIC and ensure effective implementation of scheme instead of pushing the employees/officers to the doors of TPAs.
All the points raised by us were taken note of by the IBA and UIIC and it was agreed by them that these issues will be addressed earnestly.

Overall, the meeting was useful to take up all these issues and we hope that there would be perceptible improvement in implementation of the Scheme.
With greetings,

Yours Comradely,

IDBI Bank employees along with the members of various bank unions would hold a two day strike later this month demanding wage revision.
The wage revision for employees and officers of IDBI Bank is due from November 1, 2012 to October 31, 2017 on the lines of settlement in all other banks, AIBEA General Secretary, CH Venkatachalam said in a statement.
Noting that the wage revision was already settled in other banks, he said, the negotiation talks were underway for next wage revision due from November one, 2017.The all India strike in IDBI Banks will be conducted on October 24 and 25 by employees and officers demanding "overdue wage revision", he said.

Thursday, October 12, 2017

RBI Guidelines On Prepaid Cards And International ATM Card

"As per RBI directives all debit cards to be issued as domestic unless the customer requests for activation of card for international use. Hence we have marked all our international debit cards (Except cards used internationally in last 12 months) as domestic for ATM and POS usage in our ATM Switch with immediate effect.

SMS informing the same to customers has been sent.
Now onwards, while issuing new debit card, branches should mark International debit card (BIN 452055, 430033, 461765, 536019, 652163, 652202) for International /Domestic ATM/POS use through DCARD menu E and P option. By default card will be domestic 1 1.
ATM Usage POS Usage
0 - both allowed 0 - both allowed
1 - Domestic only 1 - Domestic only
2 - International only 2 - International only
3 - both not allowed 3 - both not allowed
However, if customer wants to change his usage from domestic to International at a later date, we are developing new menu in finacle shortly. Till that time, for change of debit card usage for International /Domestic ATM/POS, will be done at ATM Cell, Digital Banking Dept.
So customer going abroad should be informed about activation of their debit card for International use at ATM/POS.
All such request ( for activation of card for International use) should be sent at email id phone no 022-23789501 IP No. 361109/361125 till the time new menu is developed by DIT.
Our Existing Domestic debit cards will continue as domestic as there is no change in their status. Branches are also advised to put a notice in the Bank's Notice Board about the change "

RBI has issued new guidelines for issuance of Prepaid cards 
Collected from Hindu Business Line of Today 
The Reserve Bank of India on Wednesday issued final guidelines for prepaid payment instruments (PPI) such as closed, semi-closed and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other.

The RBI said that interoperability shall be enabled in phases for the PPIs and that in the first phase, the issuers (both bank and non-bank entities) shall make all KYC-compliant PPIs issued in the form of wallets interoperable amongst themselves through Unified Payments Interface (UPI) within six months from the date of issue of the guidelines.

Subsequently, interoperability shall be enabled between wallets and bank accounts through UPI and for PPIs issued in the form of cards later on. However, banks may continue to issue PPIs in association with authorised card networks.

Besides, RBI has mentioned that PPI issuers will have to adhere to the technical and operational requirements for such interoperability, including those relating to safety and security, risk mitigation, among others.

Charting out the guidelines in a 32-page note, RBI has said that all the companies seeking a licence to operate wallets will have to have a minimum positive net worth of ₹5 crore which needs to be maintained for three years at all times, following which they need to have a net worth of ₹15 crore at all times. Existing wallet companies need to maintain ₹15 crore by March 31, 2020.

On the capital requirement, RBI said that wallets such as Paytm and Mobikwik need to have a minimum net worth of ₹25 crore from the earlier norms of ₹5 crore paid-up capital and ₹1 crore net worth.

It said all the semi-closed PPIs should be upgraded to full KYC norms with 12 months from the date of issue of PPI. The minimum details for KYC shall include OTP verified mobile number and self-declaration of name, address, gender, date of birth and unique identification number of any of the ‘officially valid document’. For existing wallets, companies need to ensure that they will have full KYC by the end of the December 31. Following which, these wallets will cease to exist.

PPIs limit at Rs. 50,000 a month

PTI reports: Prepaid payment instruments cannot be loaded with more than Rs. 50,000 per month and the issuers cannot pay interest on the PPI balances, the Reserve Bank said today.

“All entities approved/authorised to issue PPIs by RBI are permitted to issue re—loadable or non—reloadable PPIs depending upon the permissible type.

“Cash loading to PPIs shall be limited to Rs. 50,000/— per month subject to overall limit of the PPI,” the RBI said in its latest set of directions on ‘Issuance and Operation of Prepaid Payment Instruments’
The Reserve Bank has asked the PPI issuers to ensure that no interest is paid on the PPI balances.

PPIs that can be issued as cards, wallets or any such form can be loaded or reloaded by cash, by debit to a bank account, by credit or by debit card among others. These instruments are basically promoted by the RBI to make electronic payments popular, efficient and more secure.
Also, companies will no longer be allowed to issue such instruments in the paper form except for meal vouchers.
However, these vouchers will have to be replaced in electronic format after December 31, 2017, the RBI added.
For increasing the limit of PPIs to up to Rs. 1 lakh, the issuers will have to do a KYC check of the instrument holder.
Master Direction on Issuance and Operation of Prepaid Payment Instruments
1. Introduction
1.1 In exercise of the powers conferred under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), the Reserve Bank of India (RBI) being satisfied that it is necessary and expedient in the public interest to do so, hereby, issues these Directions.
1.2 Short title and commencement
  1. These Directions shall be called the Reserve Bank of India (Issuance and Operation of Prepaid Payment Instruments) Directions, 2017 (Master Direction).
  2. These Directions shall come into effect from October 11, 2017.
  3. Existing authorised Prepaid Payment Instrument (PPI) issuers shall ensure compliance with the revised requirements on or before December 31, 2017, except where timelines have been specified in this Direction.
1.3 Applicability: The provisions of the Master Direction shall apply to all PPI Issuers, System Providers and System Participants.
1.4 Purpose
  1. To provide a framework for authorisation, regulation and supervision of entities operating payment systems for issuance of PPIs in the country;
  2. To foster competition and encourage innovation in this segment in a prudent manner while taking into account safety and security of transactions as well as systems along with customer protection and convenience.
  3. To provide for harmonisation and interoperability of PPIs
1.5 For the purpose of these Directions, the term ‘entities’ refers to banks and non-bank entities who have approval / authorisation from the RBI to issue PPIs as well as those who are proposing to issue PPIs.
1.6 Banks and non-bank entities have been issuing PPIs in the country after obtaining necessary approval / authorisation from RBI under the Payment and Settlement Systems Act, 2007 (PSS Act). These entities have been operating within the framework of the initial guidelines on “Issuance and Operation of PPIs” issued in April 2009 and the subsequent Master Circulars issued on the subject, as amended from time to time. Taking into account the developments in the field and the progress made by PPI issuers, all existing guidelines issued on the subject till date have been reviewed and are contained in the Master Direction.
1.7 The Master Direction lays down the eligibility criteria and the conditions of operation for payment system operators involved in the issuance of semi-closed and open system PPIs in the country. All entities approved / authorised to operate payment systems involving the issuance of PPIs shall comply with these Directions.
1.8 No entity can set up and operate payment systems for issuance of PPIs without prior approval / authorisation of RBI.
2. Definitions
For the purpose of this Master Direction, the following definitions shall be applicable:
2.1 Issuer: Entities operating the payment systems issuing PPIs to individuals / organisations. The money so collected is used by these entities to make payment to the merchants who are part of the acceptance arrangement and for facilitating funds transfer / remittance services.
2.2 Holder: Individuals / Organisations who obtain / purchase PPIs from the issuers and use the same for purchase of goods and services, including financial services, remittance facilities, etc.
2.3 Prepaid Payment Instruments (PPIs): PPIs are payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities, etc., against the value stored on such instruments. PPIs that can be issued in the country are classified under three types viz. (i) Closed System PPIs, (ii) Semi-closed System PPIs, and (iii) Open System PPIs.
2.4 Closed System PPIs: These PPIs are issued by an entity for facilitating the purchase of goods and services from that entity only and do not permit cash withdrawal. As these instruments cannot be used for payments or settlement for third party services, the issuance and operation of such instruments is not classified as payment systems requiring approval / authorisation by the RBI.
2.5 Semi-closed System PPIs: These PPIs are used for purchase of goods and services, including financial services, remittance facilities, etc., at a group of clearly identified merchant locations / establishments which have a specific contract with the issuer (or contract through a payment aggregator / payment gateway) to accept the PPIs as payment instruments. These instruments do not permit cash withdrawal, irrespective of whether they are issued by banks or non-banks.
2.6 Open System PPIs: These PPIs are issued only by banks and are used at any merchant for purchase of goods and services, including financial services, remittance facilities, etc. Banks issuing such PPIs shall also facilitate cash withdrawal at ATMs / Point of Sale (PoS) / Business Correspondents (BCs).
2.7 Limits: All ‘limits’ in the value of instruments stated in the Master Direction, indicate the maximum value of such instruments, denominated in INR, that shall be issued to any holder, unless otherwise specified.
2.8 Merchants: These are establishments who have a specific contract to accept the PPIs issued by the PPI issuer (or contract through a payment aggregator / payment gateway) against the sale of goods and services, including financial services.
2.9 Net-worth: Net-worth will consist of ‘paid up equity capital, preference shares which are compulsorily convertible into equity capital, free reserves, balance in share premium account and capital reserves representing surplus arising out of sale proceeds of assets but not reserves created by revaluation of assets’ adjusted for ‘accumulated loss balance, book value of intangible assets and deferred revenue expenditure, if any’. It shall be noted that while compulsorily convertible preference shares reckoned for computation of net-worth can be either non-cumulative or cumulative, these should be compulsorily convertible into equity shares and the shareholder agreements should specifically prohibit any withdrawal of this preference share capital at any time.
3. Eligibility to issue semi-closed and open system PPIs
3.1 Banks which comply with the eligibility criteria, including those stipulated by the respective regulatory department of RBI, shall be permitted to issue semi-closed and open system PPIs, after obtaining approval from RBI.
3.2 Non-bank entities which comply with the eligibility criteria, including those stipulated by the respective regulatory department of RBI, shall be permitted to issue only semi-closed system PPIs, after obtaining authorization from RBI.
4. Capital and other eligibility requirements
4.1 All entities (both banks and non-banks), regulated by any of the financial sector regulators and seeking approval / authorisation from the RBI under the PSS Act, shall apply to Department of Payment and Settlement Systems (DPSS), RBI, Central Office, Mumbai along with a ‘No Objection Certificate’ from their respective Regulator, within 45 days of obtaining such clearance.
4.2 Non-bank entities applying for authorisation shall be a company incorporated in India and registered under the Companies Act 1956 / Companies Act 2013.
4.3 Non-bank entities having Foreign Direct Investment (FDI) / Foreign Portfolio Investment (FPI) / Foreign Institutional Investment (FII) shall also meet the capital requirements as applicable under the extant Consolidated FDI policy guidelines of Government of India.
4.4 The Memorandum of Association (MOA) of the applicant non-bank entity shall cover the proposed activity of operating as a PPI issuer.
4.5 All non-bank entities seeking authorisation from RBI under the PSS Act shall have a minimum positive net-worth of Rs. 5 crore as per the latest audited balance sheet at the time of submitting the application. These entities shall submit a certificate in the enclosed format (Annex-2) from their Chartered Accountants (CA) to evidence compliance with the applicable net-worth requirement while submitting the application for authorisation. The application shall be processed by RBI based on this net-worth which shall be maintained at all times. Thereafter, by the end of the third financial year from the date of receiving final authorisation, the entity shall achieve a minimum positive net-worth of Rs. 15 crore which shall be maintained at all times. Illustratively, if an entity is issued final authorisation on March 1, 2018, then this entity shall achieve a minimum positive net-worth of Rs. 15 crore for the financial position as on March 31, 2020. Similarly, if an entity is issued final authorisation on May 1, 2018, then this entity shall achieve a minimum positive net-worth of Rs. 15 crore for the financial position as on March 31, 2021. Subsequently, the audited balance sheet and net-worth as on 31st March shall be submitted to RBI within six months of close of financial year, failing which the entity may not be permitted to carry out this business.
4.6 Newly incorporated non-bank entities which may not have an audited statement of financial accounts shall submit a certificate in the enclosed format (Annex-2) from their Chartered Accountants regarding the current net-worth along with provisional balance sheet.
4.7 All existing non-bank PPI issuers (at the time of issuance of this Master Direction) shall comply with the minimum positive net-worth requirement of Rs. 15 crore for the financial position as on March 31, 2020 (audited balance sheet). This shall be reported to RBI, along with CA certificate in the enclosed format (Annex-2) and audited Balance Sheet, by September 30, 2020 failing which the entity may not be permitted to carry out this business. Thereafter, the minimum positive net-worth of Rs. 15 crore shall be maintained at all times. Till such time, the existing PPI issuers shall continue to maintain the capital requirements applicable to them at the time of their authorisation.
4.8 All authorised non-bank entities shall submit a certificate in the enclosed format (Annex-2) from their Chartered Accountants to evidence compliance with the applicable net-worth requirement as per the audited balance sheet of the financial year within six months of completion of that financial year.
5. Authorisation Process
5.1 A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for authorisation in Form A (available on RBI website) as prescribed under Regulation 3(2) of the Payment and Settlement Systems Regulations, 2008 along with the requisite application fees.
5.2 The applications shall be initially screened by RBI to ensure prima facie eligibility of the applicants. The directors of the applicant entity shall submit a declaration in the enclosed format (Annex-3). RBI shall also check ‘fit and proper’ status of the applicant and management by obtaining inputs from other regulators, government departments, etc., as deemed fit. Applications of those entities not meeting the eligibility criteria, or those which are incomplete / not in the prescribed form with all details, shall be returned without refund of the application fees.
5.3 In addition to the compliance with the applicable guidelines, RBI shall also apply checks, inter-alia, on certain essential aspects like customer service and efficiency, technical and other related requirements, safety and security aspects, etc. before granting in-principle approval to the applicants.
5.4 Subject to meeting the eligibility criteria and other conditions, the RBI shall issue an ‘in-principle’ approval, which shall be valid for a period of six months. The entity shall submit a satisfactory System Audit Report (SAR) to RBI within these six months, failing which the in-principle approval shall lapse automatically. SAR shall be accompanied by a certificate from the Chartered Accountant regarding compliance with the requirement of minimum positive net-worth of Rs. 5 crore. An entity can seek one-time extension for a maximum period of six months for submission of SAR by making a request in writing, to DPSS, Central Office, RBI, Mumbai, in advance with valid reasons. The RBI reserves the right to decline such a request for extension.
5.5 Subsequent to the issue of the in-principle approval, if any adverse features regarding the entity / promoters / group or business practices, etc., come to notice, the RBI may impose additional conditions and if warranted, the in-principle approval may be withdrawn.
5.6 Pursuant to receipt of satisfactory SAR and net-worth certificate, the RBI shall grant final Certificate of Authorisation. Entities granted final authorisation shall commence business within six months from the grant of Certificate of Authorisation failing which the authorisation shall lapse automatically. An entity can seek one-time extension for a maximum period of six months by making a request in writing, to DPSS, Central Office, RBI, Mumbai, in advance with valid reasons. The RBI reserves the right to decline such a request for extension.
5.7 The Certificate of Authorisation shall be valid for five years unless otherwise specified and shall be subject to review including cancellation of Certificate of Authorisation.
5.8 Entities seeking renewal of authorisation shall apply in writing to DPSS, RBI, Central Office, Mumbai at least three months before the expiry of validity of Certificate of Authorisation, failing which RBI reserves the right to decline the request for renewal.
5.9 Any proposed major change, such as changes in product features / process, structure or operation of the payment system, etc. shall be communicated with complete details, by way of a letter, addressed to the Chief General Manager, DPSS, RBI, Central Office, Mumbai. RBI shall endeavor to reply within 15 business days after receipt of above communication at DPSS, RBI, Central Office, Mumbai.
5.10 Any takeover or acquisition of control or change in management of a non-bank entity shall be communicated by way of a letter to the Chief General Manager, DPSS, RBI, Central Office, Mumbai within 15 days with complete details, including ‘Declaration and Undertaking’ (Annex-3) by each of the new directors, if any. RBI shall examine the ‘fit and proper’ status of the management and, if required, may place suitable restrictions on such changes.
6. Safeguards against Money Laundering (KYC / AML / CFT) Provisions
6.1 The Know Your Customer (KYC) / Anti-Money Laundering (AML) / Combating Financing of Terrorism (CFT) guidelines issued by the Department of Banking Regulation (DBR), RBI, in their “Master Direction – Know Your Customer (KYC) Directions” updated from time to time, shall apply mutatis mutandis to all the entities issuing PPIs and their agents.

6.2 As PPI issuers are operating a Payment System, provisions of Prevention of Money Laundering Act, 2002 and Rules framed thereunder, as amended from time to time, are also applicable to all PPI issuers. All entities shall put in place necessary systems to ensure compliance with these guidelines.
6.3 PPI issuers shall maintain a log of all the transactions undertaken using the PPIs for at least ten years. This data shall be made available for scrutiny to RBI or any other agency / agencies as may be advised by RBI. The PPI issuers shall also file Suspicious Transaction Reports (STRs) to Financial Intelligence Unit-India (FIU-IND).
7. Issuance, loading and reloading of PPIs
7.1 All entities approved / authorised to issue PPIs by RBI are permitted to issue reloadable or non-reloadable PPIs depending upon the permissible type / category of PPIs as laid down in paragraph 9 and 10 of these Directions.
7.2 PPI issuers shall have a clear laid down policy, duly approved by their Board, for issuance of various types / categories of PPIs and all activities related thereto.
7.3 PPI issuers shall ensure that the name of the company which has received approval / authorisation for issuance and operating of PPIs, is prominently displayed along with the PPI brand name in all instances. The authorised entities shall also regularly keep RBI informed regarding the brand names employed / to be employed for their products.
7.4 PPI issuers shall ensure that no interest is payable on PPI balances.
7.5 PPIs shall be permitted to be loaded / reloaded by cash, by debit to a bank account, by credit and debit cards, and other PPIs (as permitted from time to time). The electronic loading / reloading of PPIs shall be through above payment instruments issued only by regulated entities in India and shall be in INR only.
7.6 Cash loading to PPIs shall be limited to Rs.50,000/- per month subject to overall limit of the PPI.
7.7 The PPIs may be issued as cards, wallets, and any such form / instrument which can be used to access the PPI and to use the amount therein. PPIs in the form of paper vouchers shall no longer be issued from the date of this Master Direction except for Meal Paper Vouchers where separate timeline has been indicated.
7.8 Banks shall be permitted to issue and reload PPIs at their branches, ATMs and through their BCs appointed as per the guidelines issued by RBI in this regard.
7.9 Banks and non-banks shall be permitted to issue and reload such payment instruments through their authorised outlets or through their authorised / designated agents subject to following conditions:-
  1. There shall be a Board approved policy clearly laying down the framework for engaging agents for the purpose of issuance and reloading of PPIs.
  2. Issuers shall carry out proper due diligence of the persons appointed as authorised / designated agents for issue / reloading of permissible categories of PPIs.
  3. Issuers shall be responsible for all the PPIs issued by the authorised / designated agents.
  4. Issuers shall be responsible as the principal for all acts of omission or commission of their authorised / designated agents, including safety and security aspects.
  5. Issuers shall ensure preservation of records and confidentiality of customer information in their possession as well as in the possession of their authorised / designated agents.
  6. The PPI issuers shall regularly monitor the activities of their authorised / designated agents and also carry out a review of the performance of various agents engaged by them at least once in a year.
  7. Issuers and their authorised / designated agents shall ensure adherence to applicable laws of the land, including KYC / AML / CFT norms as indicated in paragraph 6.
7.10 PPI issuers shall ensure that there is no co-mingling of funds originating from any other activity that the Issuer may be undertaking such as BCs of bank/s, intermediary for payment aggregation, payment gateway facility, etc.
7.11 PPIs under co-branding arrangements:
  1. The co-branding arrangement shall be as per the Board approved policy of the PPI issuer. The policy shall specifically address issues pertaining to the various risks associated with such an arrangement including reputation risk and the PPI issuer shall put in place suitable risk mitigation measures. The policy shall also clearly lay down the roles, responsibilities and obligations of each co-branding partner.
  2. The co-branding partner shall be a company incorporated in India and registered under the Companies Act 1956 / Companies Act 2013. In case the co-branding partner is a bank, then the same shall be a bank licensed by RBI.
  3. PPI issuers shall carry out due diligence in respect of the co-branding partner to protect themselves against the reputation risk they are exposed to in such an arrangement. In case of proposed tie up with a financial entity, they may ensure that that entity has the approval of its regulator for entering into such arrangement.
  4. The instructions / guidelines on KYC / AML / CFT (as indicated in paragraph 6) shall be adhered to, in respect of all PPIs issued under the co-branding arrangement as well.
  5. The PPI issuer shall be liable for all acts of the co-branding partner. The Issuers shall also be responsible for all customer related aspects of the PPIs.
  6. PPI issuers shall be permitted to co-brand such instruments with the name / logo of the company for whose customers / beneficiaries such co-branded instruments are to be issued.
  7. The name of PPI issuer shall be prominently visible on the payment instrument.
  8. In case of non-bank PPI issuers, where co-branding arrangements take place between two non-bank PPI issuers, the agreement shall clearly indicate which partner shall be the PPI Issuer.
  9. All non-bank PPI issuers desirous of issuing such co-branded PPIs shall seek one time approval from DPSS, RBI, Central Office. Separate approval is not required for each co-branding arrangement.
  10. In case of co-branding arrangements between bank and non-bank entity, the bank shall be the PPI Issuer. The role of the non-bank entity shall be limited to marketing / distribution of the PPIs or providing access to the PPI holder to the services that are offered.
  11. In case of co-branding arrangement between two banks, then the PPI issuing bank shall ensure compliance to above instructions.
  12. Bank PPI issuers shall also adhere to the instructions contained in the circular DBOD.No.FSD.BC.67/24.01.019/2012-13 dated December 12, 2012, as amended from time to time.
7.12 All PPI issuers already having co-branding arrangements at the time of issuance of this Master Direction shall review their existing arrangements to meet the above requirements on or before December 31, 2017. The details of all the existing co-branding arrangements by all PPI issuers shall be reported to DPSS, RBI, Central Office, Mumbai within one month of release of this Master Direction in the format enclosed (Annex-4). Further, any new arrangement shall also be reported to RBI within seven days of finalisation of arrangement.
7.13 Prepaid meal instruments: Banks and non-bank entities issuing PPIs in the form of prepaid meal instruments, shall ensure that these are issued only as semi-closed PPIs, are in electronic form and reloadable. No cash withdrawal or funds transfer shall be permitted from such instruments. Such PPIs need not be issued as a separate category of PPI. No prepaid meal instruments in paper voucher form shall be issued after December 31, 2017.
7.14 There shall be no remittance without compliance to KYC requirements. PPI issuers, including their agents, shall not create new PPIs each time for facilitating cash-based remittances to other PPIs / bank accounts. PPIs created for previous remittance by the same person shall be used.
8. Cross-Border Transactions
The use of INR denominated PPIs for cross border transactions shall not be permitted except as under:
8.1 PPIs for cross-border outward transactions
  1. KYC compliant reloadable semi-closed and open system PPIs issued by banks having AD-I licence shall be permitted to be used in cross-border outward transactions (only for permissible current account transactions under FEMA viz. purchase of goods and services), subject to adherence to extant norms governing such transactions.
  2. PPIs shall not be used for any cross-border outward fund transfer and/or for making remittances under the Liberalised Remittance Scheme. Prefunding of online merchant’s account shall not be permitted using such Rupee denominated PPIs.
  3. Issuers shall enable the facility of cross-border outward transactions only on explicit request of the PPI holders and shall apply a per transaction limit not exceeding Rs.10,000/-, while per month limit shall not exceed Rs. 50,000/- for such cross-border transactions.
  4. In case this facility is made available by issuing the PPI in card form, then this PPI shall be EMV Chip and PIN compliant.
  5. Such PPIs need not be issued as a separate category of PPI.
8.2 PPIs for credit towards cross-border inward remittance
  1. Bank and non-bank PPI issuers, who have been appointed as the Indian agent of the authorised overseas principal, shall be permitted to issue PPIs to beneficiaries of inward remittance under the Money Transfer Service Scheme (MTSS) of the RBI.
  2. Authorised non-bank PPI issuers shall be permitted to issue such PPIs for a period of three years, from the date of this Master Direction, subject to review.
  3. The PPIs shall be KYC compliant, reloadable and issued only in electronic form, including cards.
  4. Such PPIs shall be issued in adherence to extant norms under the MTSS Guidelines issued by Foreign Exchange Department, RBI.
  5. Amounts only upto Rs.50,000/- from individual inward MTSS remittance shall be permitted to be loaded / reloaded in PPIs issued to beneficiaries. Amount in excess of Rs.50,000/- under MTSS shall be paid by credit to a bank account of the beneficiary. Full details of the transactions shall be maintained on record for scrutiny.
  6. The roles and responsibilities of the PPI issuers for the PPI related activities shall be distinct from the roles and responsibilities as Indian Agents under MTSS.
  7. Such PPIs need not be issued as a separate category of PPI.
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Wednesday, October 11, 2017

Avoid Non-Veg Foods And Dinner

Click Following Link to read why Non-vegetarian foods are harmful?

Read Below carefully to know, understand and realise how much harmful it is to have food at night 
*रात्रि-भोजन का भगवान महावीर ने निषेध क्यों किया ||*

सूर्योदय के साथ ही जीवन फैलता है। सुबह होती है, सोये हुए पक्षी जग जाते है, सोये हुए पौधे जग जाते है, फूल खिलने लगते है, पक्षी गीत गाने लगते हैं, आकाश में उड़ान शुरू हो जाती है। सारा जीवन फैलने लगता है। सूर्योदय का अर्थ है, सिर्फ सूरज का निकलना नहीं, जीवन का जागना जीवन का फैलना। सूर्यास्त का अर्थ है, जीवन का सिमटना, विश्राम में लीन हो जाना। दिन जागरण है, रात्रि निद्रा है। दिन फैलाव है, रात्रि विश्राम है। दिन श्रम है, रात्रि श्रम से वापस लौट आना है। सूर्योदय की इस घटना को समझ लें तो खयाल में आयेगा कि रात्रि—भोजन के लिए महावीर का निषेध क्यों है? क्योंकि भोजन है जीवन का फैलाव। तो सूर्योदय के साथ तो भोजन की सार्थकता है। शक्ति की जरूरत है। लेकिन सूर्यास्त के बाद भोजन की जरा भी आवश्यकता नहीं है। सूर्यास्त के बाद किया गया भोजन बाधा बनेगा, सिकुड़ाव में, विश्राम में। क्योंकि भोजन भी एक श्रम है।

आप भोजन ले लेते है तो आप सोचते हैं, काम समाप्त हो गया। गले के नीचे भोजन गया तो आप समझे कि काम समाप्त हो गया। गले तक तो काम शुरू ही नहीं होता, गले के नीचे ही काम शुरू होता है। शरीर श्रम में लीन होता है। भोजन देने का अर्थ है शरीर को भीतरी श्रम में लगा देना। भोजन देने का अर्थ है कि अब शरीर का रोया—रोया इसको पचाने में लग जायेगा।

तो अगर आपकी निद्रा क्षीण हो गयी है, अगर रात विश्राम नहीं मिलता, नींद नहीं मालूम पड़ती, स्‍वप्‍न ही स्‍वप्‍न मालूम पड़ते है, करवट ही करवट बदलनी पड़ती है, उसमें से अस्सी प्रतिशत कारण तो शरीर को दिया गया काम है जो रात में नहीं दिया जाना चाहिए। तो एक तो भोजन देने का अर्थ है, शरीर को श्रम देना। लेकिन जब सूरज उगता है तो आक्सीजन की, प्राणवायु की मात्रा बढ़ती है। प्राण वायु जरूरी है श्रम को करने के लिए। जब रात्रि आती है, सूर्य डूब जाता है तो प्राण वायु का औसत गिर जाता है हवा में। जीवन को अब कोई जरूरत नहीं है। कार्बन डाइआक्साइड़ का, कार्बन डायाक्साईड की मात्रा बढ़ जाती है जो कि विश्राम के लिए जरूरी है। जानकर आप हैरान होंगे कि आक्सिजन जरूरी है भोजन को पचाने के लिए। कार्बन डायक्साईड के साथ भोजन मुश्किल से पचेगा।

मनोवैज्ञानिक अब कहते है कि हमारे अधिकतर दुख स्वप्‍नों का कारण हमारे पेट में पड़ा हुआ भोजन है। हमारी निद्रा की जो अस्त—व्यस्तता है, अराजकता है, उसका कारण पेट में पड़ा हुआ भोजन है। आपके सपने अधिक मात्रा में आपके भोजन से पैदा हुए है। आपका पेट परेशान है। काम में लीन है। दिन भर चुक गया। काम का समय बीत गया और अब भी आपका पेट काम में लीन है। बाकी हम तो अदभुत लोग हैं। हमारा असली भोजन रात में होता है, बाकी तो दिन भर हम काम चला लेते है। जो असली भोजन है, बडा भोजन डिनर, वह हम रात में लेते हैं। उससे ज्यादा दुष्टता शरीर के साथ दूसरी नहीं हो सकती।

इसलिए अगर महावीर ने रात्रि भोजन को हिंसा कहां है तो मै कहता हूं कीड़े—मकोड़ों के मरने के कारण नहीं, अपने साथ हिंसा करने के कारण आत्म—हिंसा है। आप अपने शरीर के साथ दुर्व्यवहार कर रहे हैं। स्व—अवैज्ञानिक है। भोजन की जरूरत है सुबह, सूर्य के उगने के साथ। जीवन की आवश्यकता है, शक्ति की आवश्यकता है। श्रम होगा, शक्ति चाहिए। विश्राम होगा, शक्ति नहीं चाहिए। पेट सांझ होते—होते, होते—होते मुक्त हो जाये भोजन से, तो रात्रि शांत होगी, मौन होगी, गहरी होगी। निद्रा एक सुख होगी और सुबह आप ताजे उठेंगे, रात्रि भर भी आपके पेट को श्रम करना पड़े तो सुबह आप थके मांदे उठेंगे।

इसके और भी गहरे कारण हैं। आपने खयाल किया होगा, जैसे ही पेट में भोजन पड़ जाता है वैसे ही आपका मस्तिष्क ढीला हो जाता है। इसलिए भोजन के बाद नींद सताने लगती है। लगता है लेट जाओ। लेट जाने का मतलब यह है कि कुछ मत करो अब। क्यों? क्योंकि सारी ऊर्जा शरीर की पेट को पचाने के लिए दौड़ जाती है। मस्तिष्क बहुत दूर है पेट से। जैसे ही पेट में भोजन पड़ता है, मस्तिष्क की सारी ऊर्जा पेट में पचाने को आ जाती है। ये वैज्ञानिक तथ्य है। इसलिए आंख झपकने लगती है और नींद मालूम होने लगती है। इसलिए उपवासे आदमी को रात में नींद नहीं आती। दिन भर उपवास किया हो तो रात में नींद नहीं आती। क्योंकि सारी ऊर्जा मस्तिष्क की तरफ दौड़ती रहती है तो नींद नहीं आ पाती। इसलिए, जैसे ही आप पेट भर लेते हैं तत्काल नींद मालूम होने लगती है। यह भरे पेट में नींद इसलिए मालूम होती है कि मस्तिष्क को जो ऊर्जा दी गयी थी, वह पेट ने वापस ले ली।

पेट जड़ है। पेट पहली जरूरत है। मस्तिष्क विलास है, लक्ज़री है। जब पेट के पास ज्यादा ऊर्जा होती है तब वह मस्तिष्क को दे देता है। नहीं तो पेट में ही मस्तिष्क की ऊर्जा घूमती रहती है।

महावीर ने कहां है, दिन है श्रम, रात्रि है विश्राम, ध्यान भी है विश्राम। इसलिए पूरी रात्रि ध्यान बन सकती है, अगर थोड़ा—सा शरीर के साथ समझ का उपयोग किया जाये। अगर रात्रि पेट में भोजन पड़ा है तो रात्रि ध्यान नहीं बन सकती, निद्रा ही रह जाti hai

What is Karam? How it works?

अनजाने कर्म का फल


एक राजा ब्राह्मणों को लंगर में महल के आँगन में भोजन करा रहा था ।
राजा का रसोईया खुले आँगन में भोजन पका रहा था ।
उसी समय एक चील अपने पंजे में एक जिंदा साँप को लेकर राजा के महल के उपर से गुजरी ।
तब पँजों में दबे साँप ने अपनी आत्म-रक्षा में चील से बचने के लिए अपने फन से ज़हर निकाला ।
तब रसोईया जो लंगर ब्राह्मणो के लिए पका रहा था, उस लंगर में साँप के मुख से निकली जहर की कुछ बूँदें खाने में गिर गई ।
किसी को कुछ पता नहीं चला ।
फल-स्वरूप वह ब्राह्मण जो भोजन करने आये थे उन सब की जहरीला खाना खाते ही मौत हो गयी ।
अब जब राजा को सारे ब्राह्मणों की मृत्यु का पता चला तो ब्रह्म-हत्या होने से उसे बहुत दुख हुआ ।

ऐसे में अब ऊपर बैठे यमराज के लिए भी यह फैसला लेना मुश्किल हो गया कि इस पाप-कर्म का फल किसके खाते में जायेगा .... ???
(1) राजा .... जिसको पता ही नहीं था कि खाना जहरीला हो गया है ....
(2 ) रसोईया .... जिसको पता ही नहीं था कि खाना बनाते समय वह जहरीला हो गया है ....
(3) वह चील .... जो जहरीला साँप लिए राजा के उपर से गुजरी ....
(4) वह साँप .... जिसने अपनी आत्म-रक्षा में ज़हर निकाला ....

बहुत दिनों तक यह मामला यमराज की फाईल में अटका (Pending) रहा ....

फिर कुछ समय बाद कुछ ब्राह्मण राजा से मिलने उस राज्य मे आए और उन्होंने किसी महिला से महल का रास्ता पूछा ।
उस महिला ने महल का रास्ता तो बता दिया पर रास्ता बताने के साथ-साथ ब्राह्मणों से ये भी कह दिया कि "देखो भाई ....जरा ध्यान रखना .... वह राजा आप जैसे ब्राह्मणों को खाने में जहर देकर मार देता है ।"

बस जैसे ही उस महिला ने ये शब्द कहे, उसी समय यमराज ने फैसला (decision) ले लिया कि उन मृत ब्राह्मणों की मृत्यु के पाप का फल इस महिला के खाते में जाएगा और इसे उस पाप का फल भुगतना होगा ।

यमराज के दूतों ने पूछा - प्रभु ऐसा क्यों ??
जब कि उन मृत ब्राह्मणों की हत्या में उस महिला की कोई भूमिका (role) भी नहीं थी ।
तब यमराज ने कहा - कि भाई देखो, जब कोई व्यक्ति पाप करता हैं तब उसे बड़ा आनन्द मिलता हैं । पर उन मृत ब्राह्मणों की हत्या से ना तो राजा को आनंद मिला .... ना ही उस रसोइया को आनंद मिला .... ना ही उस साँप को आनंद मिला .... और ना ही उस चील को आनंद मिला ।
पर उस पाप-कर्म की घटना का बुराई करने के भाव से बखान कर उस महिला को जरूर आनन्द मिला । इसलिये राजा के उस अनजाने पाप-कर्म का फल अब इस महिला के खाते में जायेगा ।

बस इसी घटना के तहत आज तक जब भी कोई व्यक्ति जब किसी दूसरे के पाप-कर्म का बखान बुरे भाव से (बुराई) करता हैं तब उस व्यक्ति के पापों का हिस्सा उस बुराई करने वाले के खाते में भी डाल दिया जाता हैं ।

अक्सर हम जीवन में सोचते हैं कि हमने जीवन में ऐसा कोई पाप नहीं किया, फिर भी हमारे जीवन में इतना कष्ट क्यों आया .... ??

ये कष्ट और कहीं से नहीं, बल्कि लोगों की बुराई करने के कारण उनके पाप-कर्मो से आया होता हैं जो बुराई करते ही हमारे खाते में ट्रांसफर हो जाता हैं ....

यही हे र्कमो का फल

ब्रह्मकुमारी शिवानी के अनमोल विचार | 
1. एक छोटी सी लड़ाई से हम अपना प्यार करते हैं इससे तो अच्छा हैं की प्यार से हम अपनी लड़ाई खत्मः करे।
2. व्यर्थ कार्य जीवन को थका देता हैं, रचनात्मक कार्य सुख और तेज बढ़ा देता हैं।
3. स्वयं के प्रति स्वमान और प्रभु के प्रति प्रेमभाव हो तो दूसरों को आदर देना आसान हो जाता हैं।
4. गलतफहमी हमेशा रिश्ते जोड़ने से पहले ही तोड़ देती हैं।
5. किसी का ख़राब काम देखकर क्रोध आना मामूली बात हैं लेकिन क्रोध के बजाय उसके लिये दुआ निकले यह महान आत्मा के लक्षण होते हैं।
6. खुश रहने के लिये हमें किसी वजह की जरुरत नहीं होनी चाहिये क्योकि हमसे हमरी खुशी की वजह किसी भी वक्त छीन ली जा सकती हैं।
7. दूसरों के नजरो में अच्छा बनने से पहले खुद के नजरों में अच्छा बनों।
8. हमेशा याद रखो की अगर कोई आपके साथ बुरा करे तो इसका मतलब ये नहीं की आप भी उसके साथ बुरा करो अगर आप दुसरो की गलती होते हुये भी माफ़ कर देते हैं तो वास्तव आप उससे बड़े हैं।
9. ज्यादा बोझ लेकर चलने वाले हमेशा डूब जाते है हैं, फिर बोझ चाहे सामान का हो या अभिमान का हो।
10. खुश रहने का मतलब ये नहीं सब कुछ ठीक हैं इसका मतलब यह हैं की आपने अपने दुखो उठकर जिना सिख लिया हैं।
11. दुनिया में हम जो दूसरों को देते हैं वही हमारे पास लौटकर आता हैं, आप दूसरों को दुआयें देंगे तो वो किसी न किसी रूप से आपके पास लौटकर जरुर आयेंगी।
यदि रोज मनन करें तो जीवन में सकारात्मक परिवर्तन होगा। अगर किसी बच्चे को उपहार न दिया जाए तो वो कुछ देर रोयेगा मगर संस्कार ना दिए जाएं तो वो जीवन भर रोयेगा…

Good read:

● At 20 years "foreign country" and "hometown" are the same. (No matter where you are, you can always adapt)

● At 30 years, "night time" and "daytime" are the same. (A few days of no sleep, does not matter)

● At 40 years, "highly educated" and "less educated" are the same. (Less educated people may even earn more money) 

● At 50 years, "beauty" and "ugly" are the same. (No matter how pretty you are, at this age, wrinkles, dark spots, etc. can no more be hidden.)

● At 60 years, "high position" and "low position" are the same. (After retirement, even a peon will avoid looking at his boss)

● At 70 years, "big house" and "small house" are the same. (Joints degeneration, hard to move, only require a little space to sit .)

● At 80 years, "have money" and "no money" are the same. (Even when you want to spend money, you don't know where to spend)

● At 90 years, "Sleeping" and "waking up" are the same. (After you wake up, you still don't know what to do)

Take life easy, there are no mysteries to be solved.

In the long run, we'll all be the same.
So forget all tensions of life & enjoy..

GST rate structure for Petroleum and Oil Sector 

To reduce the cascading of taxes arising on account of non-inclusion of petrol, diesel, ATF, natural gas and crude oil in GST and to incentivise investments in the E&P (exploration and production) sector and downstream sector, the GST Council in its 22nd meeting held on 6thOctober, 2017 has made the following recommendations for GST rate structure for Specified Goods and Services:
i. Offshore works contract services and associated services relating to oil and gas exploration and production in the offshore areas beyond 12 nautical miles shall attract GST of 12%;
ii. Transportation of natural gas through pipeline will attract GST of 5% without input tax credits (ITC) or 12% with full ITC;
iii. Import of rigs and ancillary goods imported under lease will be exempted from IGST, subject to payment of appropriate IGST on the supply/import of such lease service and fulfilment of other specified conditions.
Further, GST rate on bunker fuel is being reduced to 5%, both for foreign going vessels and coastal vessels.
Notifications to give effect to the above proposals will be issued shortly.

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