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of <h1>Money Transfer Service limits on inward personal remittances: agent eligibility, caps, KYC/sub-agent safeguards, and authorised-only disbursal rules</h1> MTSS is confined to cross-border inward personal remittances to individual beneficiaries in India and prohibits outward remittances, remittances for donations/charity, trade, property purchase, investments, or credit to NRE accounts; the operative consequence is that Indian Agents may disburse only eligible inward remittances under the prescribed modalities. Eligibility, authorisation and renewal are prescribed for Indian Agents, including minimum net owned funds of Rs.50 lakh, selective grant, commencement within six months, and renewal application timelines with continuity of permission pending decision; the operative consequence is that only authorised entities meeting prudential and procedural conditions may conduct MTSS and continue operations. Operational safeguards include collateral by the Overseas Principal, a USD 2,500 cap per remittance, cash payout limits, annual cap of 30 remittances per beneficiary, KYC/AML/CFT compliance, sub-agent due diligence/reporting with termination on MHA objection, and electronic credit to KYC-compliant accounts; the operative consequence is controlled disbursal, enhanced traceability, and enforceable compliance accountability of Indian Agents for sub-agents.
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