Cash payment limit under MTSS restricts cash disbursal; excess must be paid by account payee instruments or bank credit. Under the Money Transfer Service Scheme (MTSS), small remittances may be paid in cash or loaded onto a bank issued prepaid card; transfers above the ... Summary
Cash payment limit under MTSS restricts cash disbursal; excess must be paid by account payee instruments or bank credit.
Under the Money Transfer Service Scheme (MTSS), small remittances may be paid in cash or loaded onto a bank issued prepaid card; transfers above the prescribed cash threshold must be paid by account payee cheque, demand draft, payment order, or credited to the beneficiary's bank account, with limited exceptions for foreign tourists.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.