BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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40
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45
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55
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30
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Detailed explanation-1: -Amounts up to Rs. 50, 000/-may be paid in cash. Any amount exceeding this limit shall be paid by means of cheque / DD /PO etc or credited directly to the beneficiary’s account. Only 30 Transactions per beneficiary are permitted in a calendar year.
Detailed explanation-2: -In addition, thirty remittances can be received by a single individual beneficiary under the scheme during a calendar year. 14. Can cash payment be made to the beneficiary under MTSS?
Detailed explanation-3: -Here are the answers to all the questions you may have for outward remittance. Q . How much money can be sent? A resident individual can remit up to $2.5 lakh in a financial year through multiple transactions for any permissible current or capital account transaction, or a combination of both.
Detailed explanation-4: -Under the RDA, there is no upper limit on the amount of inward remittances for personal purposes. Under MTSS, every inward remittance is capped at $2500. Under MTSS, a beneficiary can receive a maximum of 30 inward remittances in a calendar year.