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Master Circular on Money Transfer Service Scheme

 

RBI/2013-14/1
Master Circular No.1/2013-14

July 01, 2013

To

All Authorised Persons, who are Indian Agents under
the Money Transfer Service Scheme

Madam / Sir,

Master Circular on Money Transfer Service Scheme

Money Transfer Service Scheme (MTSS) is a quick and easy 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. No outward remittance from India is permissible under MTSS.

2. This Master Circular consolidates the existing instructions on the subject of Money Transfer Service Scheme at one place. The list of underlying circulars/ notifications is set out in Appendix.

3. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2014 and will be replaced by an updated Master Circular on the subject.

Yours faithfully,

(Rudra Narayan Kar)
Chief General Manager-In-Charge

Tags: All-India Financial Institutionschartered accountantCompany SecretaryEXIM bankFinancial institutionGeneral managerIndiaIndirect taxMaster CircularMaster Circulars 1st July 2013National Bank for Agriculture and Rural DevelopmentRajesh VermaSmall Industries Development Bank of India

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