https://www.taxtmi.com/circulars?id=53695 The Master Circular prescribes the regulatory framework for the Money Transfer Service Scheme (MTSS): only inward personal remittances are permitted; Indian Agents must be specified authorised entities meeting minimum net owned funds, documentary and KYC/AML/CFT requirements; Overseas Principals must be licensed, AML compliant and maintain minimum net worth and outreach; collateral is required from Overseas Principals and operational limits and recordkeeping apply; Indian Agents remain fully responsible for Sub Agents and must submit periodic reports and comply with inspections and renewal procedures. en-us Wed, 01 Jul 2015 00:00:00 +0530 Fri, 26 Jul 2024 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53695 The Master Circular prescribes the regulatory framework for the Money Transfer Service Scheme (MTSS): only inward personal remittances are permitted; Indian Agents must be specified authorised entities meeting minimum net owned funds, documentary and KYC/AML/CFT requirements; Overseas Principals must be licensed, AML compliant and maintain minimum net worth and outreach; collateral is required from Overseas Principals and operational limits and recordkeeping apply; Indian Agents remain fully responsible for Sub Agents and must submit periodic reports and comply with inspections and renewal procedures. Circulars FEMA Wed, 01 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53695