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3 B MONEY TRANSFER SERVICE SCHEME (MTSS)
What is the Money Transfer Service Scheme (MTSS)?
MTSS is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India, operating under the guidelines of the Reserve Bank of India.
What is the maximum amount receivable per MTSS transaction in India?
USD 2,500 or equivalent per transaction
Who regulates the Money Transfer Service Scheme in India?
The Reserve Bank of India (RBI) regulates and oversees the Money Transfer Service Scheme under the Foreign Exchange Management Act (FEMA), 1999.
What is the ceiling on number of MTSS remittances allowed per beneficiary per calendar year?
Maximum 30 remittances per beneficiary per year
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