RBI/2014-15/13
Master Circular No.1/2014-15
July 1, 2014
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 is being updated from time to time as and when the fresh instructions are issued. The date up to which the Master Circular has been updated is suitably indicated.
3. This Master Circular may be referred to for general guidance. The Authorised Persons and the Authorised Dealer Category I banks may refer to respective circulars/ notifications for detailed information, if so needed.
Yours faithfully,
(B. P. Kanungo)
Principal Chief General Manager
