Discussion
What is the full form of MTSS?
Answer: A
Correct answer: Money Transfer Service Scheme
MTSS is the RBI-approved channel for receiving personal remittances from abroad in India - money sent by a person overseas and paid out in rupees at an agent’s counter. It is for personal remittances only: donations, trade payments and business transactions are excluded, and there are limits on the amount and the number of transactions a year.
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