BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Money Transfer Service Send
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Money Transfer Service Scheme
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Money Transfer Service Solutions
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Money Transfer System Scheme
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Detailed explanation-1: -Money Transfer Service Scheme (MTSS) is a way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible.
Detailed explanation-2: -Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India.
Detailed explanation-3: -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. Payment is made in INR only, without any deduction of charges from beneficiary.
Detailed explanation-4: -The funds are transferred to your account instantly. There is a daily limit of Rs. 100, 000 for Self Account Transfers.