The Reserve Bank of India has operationalised a Central Fraud Registry (CFR). The registry will make available more information to banks at the time of starting a banking relationship, extending credit facilities or at any time during the operation of an account. The CFR is a centralised searchable database which can be accessed by banks.

The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time.A record of all transactions made between one particular country and all other countries during a specific time period.

The government’s intention to set up a Public Debt Management Agency (PDMA) is not only required for the development of the bond market in the country, but it would also prevent leakages of public funds.

The Financial Intelligence Unit (FIU), an agency tasked with collecting, analysing and disseminating information related to dubious financial transactions.The main function of FIU-IND is to receive cash/suspicious transaction reports, analyse them and, as appropriate, disseminate valuable financial information to intelligence/enforcement agencies and regulatory authorities.

The Reserve Bank based on the demand requirement indicates the volume and value of banknotes to be printed each year to the Government of India which get finalized after mutual consultation. The quantum of banknotes to be printed, broadly depends on the requirement for meeting the demand for banknotes, GDP growth, replacement of soiled banknotes, reserve stock requirements, etc.

e-KYC is possible only for those who have Aadhaar numbers. While using e-KYC service, you have to authorise the Unique Identification Authority of India (UIDAI), by explicit consent, to release your identity/address through biometric authentication to the bank branches/business correspondent (BC). The UIDAI then transfers your data comprising name, age, gender, and photograph of the individual, electronically to the bank/BC.

UPI allows you to pay directly from your bank account to different merchants without the hassle of typing your card details, or netbanking/wallet password.

P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders directly with borrowers.

Banks cannot accept interest free deposits other than in current account.

The deposits should be accepted under the Foreign Currency Non-Resident(FCNR) Scheme for the following maturity periods:

One year and above but less than two years

Two years and above but less than three years

Three years and above but less than four years

Four years and above but less than five years

Five years only