📝 One-liners · 66 cards
3 B SUB-AGENTS UNDER MTSS, KYC AML CFT GUIDELINES FOR INDIAN AGENTS
What is the full form of MTSS in the context of foreign exchange remittance?
MTSS stands for Money Transfer Service Scheme, a mechanism for cross-border personal remittances into India through tie-ups between overseas money transfer companies and Indian agents.
What is the maximum number of overseas principals an Indian Agent can tie up with under MTSS?
An Indian Agent can tie up with only one overseas principal under MTSS.
Who is considered an Indian Agent under the MTSS framework?
An Indian Agent is an Authorised Dealer Category-II or a Full-Fledged Money Changer (FFMC) registered with RBI that has a tie-up with an overseas principal to disburse inward remittances in India.
What is the minimum net worth required for an entity to become an Indian Agent under MTSS?
The minimum net worth required is INR 50 lakh for Indian Agents under MTSS.
🔒
Unlock 66 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for 3 B SUB-AGENTS UNDER MTSS, KYC AML CFT GUIDELINES FOR INDIAN AGENTS.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days