Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: VAT Audit :: due date for vat payment :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: cpt :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: form 3cd :: VAT RATES
Latest Circulars »
 RBI to conduct Overnight and 6-day Variable Rate Reverse Repo auctions under LAF on March 22, 2018
 Meeting Schedule of the Monetary Policy Committee for 2018-19
  Sources of Variation in Foreign Exchange Reserves in India during April-December 2017
 RBI-Reporting and Accounting of Central Government Transactions of March 2018
  Sources of Variation in Foreign Exchange Reserves in India during April-December 2017
 Sources of Variation in Foreign Exchange Reserves in India during April-December 2017
 Developments in India’s Balance of Payments during the Third Quarter (October-December) of 2017-18
 Submission of returns by the Government-owned Non-Banking Financial Companies
 Agency commission payable to banks for operating Special Deposit Scheme (SDS)
 Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Sanmitra Sahakari Bank Maryadit,
 Banking Regulatory Powers Should Be Ownership Neutral (Urjit R. Patel, Governor, Reserve Bank of India – March 14, 2018 – Inaugural Lecture : Centre for Law & Economics, Centre for Banking & Financial Laws Gujarat National Law University, Gandhinagar)

RBI-Appointment of Non-Deposit Accepting NBFCs with asset size of `.100 crore and above as sub - agents under Money Transfer Service Schemes (MTSS)
August, 13th 2014

DNBS.CC.PD.No. 405/03.10.01/2014-15

August 12, 2014


All Non-Deposit Accepting Non-Banking Financial Companies 
with asset size of `.100 crore and above

Dear Sirs,

Appointment of Non-Deposit Accepting NBFCs with asset size of `.100 crore and above 
as sub- agents under Money Transfer Service Schemes (MTSS)

In order to broaden the network of sub-agents under the Money Transfer Service Schemes (MTSS), it has been decided to permit Non-Deposit Accepting NBFCs with asset size of `.100 crore and above to act as sub-agents under MTSS subject to the following conditions:

  1. There is no co-mingling of the Indian agent’s funds with that of the NBFC’s funds.

  2. The Indian agent should maintain with a designated bank, a security deposit in favour of the NBFC sub-agent. The amount of the security deposit to be maintained may be mutually decided between the Agent and the sub-agent. It should be ensured that the payouts of NBFC sub-agents pending reimbursement by the agents should not, at any point of time, be higher than the security deposits.

  3. No NBFC, acting as sub-agent, should appoint any other entity as its sub-agent.

2. NBFCs desirous to act as sub-agents under the MTSS shall take prior approval of the Reserve Bank. Application in this regard may be forwarded to the concerned Regional Offices of the Reserve Bank of India.

Yours faithfully,

(K.K. Vohra)
Principal Chief General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions