ITRS measures the individual balance of payments cash transactions passing through the domestic banks and foreign bank accounts of enterprises, and noncash transactions and stock positions. ITRS stands for

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	International transactions reporting scheme
B	International transactions reporting service
C	International transactions reporting system
D	International transactions reporting security

Explanation:

Detailed explanation-1: -The ITRS is a comprehensive data gathering system on cross border transactions and domestic foreign currency transactions and is aimed at filling multitude of existing data gaps.

Detailed explanation-2: -Infosys Transaction Reconciliation System (ITRS) provides full set of reconciliation capabilities and helps financial services firms to meet their imperatives.

Detailed explanation-3: -The correct answer is c) autonomous transactions. Foreign exchange transactions which are independent of other transactions in the Balance of Payments Account are called autonomous transactions.

Detailed explanation-4: -ITRS introduced in January 2000 based on Act No. 24 of 1999 concerning The Foreign Exchange activities and Exchange Rate System. ITRS data reported electronically. The report based on closed system (total value of incoming and outgoing transaction must be equal to the total changes in nostro and vostro).

There is 1 question to complete.