TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Master Circular: Guidelines for Inward Remittances to India via MTSS; No Outward Transfers Allowed; Agent Compliance Required.</h1> The Master Circular on the Money Transfer Service Scheme (MTSS) outlines the guidelines for facilitating inward personal remittances from abroad to beneficiaries in India. It specifies that only inward remittances for family maintenance and foreign tourists are allowed, with no outward remittances permitted. The Reserve Bank of India (RBI) grants authorization to Indian Agents, who must meet specific criteria, including minimum net owned funds and compliance with KYC/AML/CFT norms. The circular also details the process for appointing sub-agents, collateral requirements, and reporting obligations. It emphasizes the responsibility of Indian Agents for the activities of their sub-agents and provides guidelines for the renewal of permissions and inspections.
TaxTMI 
TaxTMI 
