Question
RBI has updated instructions in the Master Direction on
Know Your Customer (KYC) related to wire transfers.Under the new rules,domestic wire transfers of _____ and above, where the originator is not an account holder of the ordering RE, shall also be accompanied by originator and beneficiary information as indicated for cross-border wire transfers.Solution
The Reserve Bank has instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. Â The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF). Â Also, domestic wire transfers, where the originator is an account holder of the ordering regulated entity (RE), should be accompanied by originator and beneficiary information, as in the case of cross-border wire transfers. Domestic wire transfers of Rs 50,000 and above, where the originator is not an account holder of the ordering RE, shall also be accompanied by originator and beneficiary information as indicated for cross-border wire transfers. Â Â Ordering RE refers to the financial institution which initiates the wire transfer and transfers the funds on behalf of the originator.
It is what Buddhists and various (A)/other doctrines aim to severe (B)/in an effort to transcend (C)/samsaric rebirth and needless suffering (D).
After the ache in the neck from grazing upwards at these alluring frescoes, we sat down for a while, rubbing our necks, in the splendid dance hall with ...
"This question consists of a sentence which is divided into four parts numbered (1) to 4. only one part of the sentence is not acceptable in standard w...
That summer, elections were (a) / held at many a place (b) / without any untoward incident. (c) / No error (d)Â
1. Plankton is our planet’s most prolific life form, and the food it generates makes up the base layer of the global food chain.
2. The variety...
(A) Men are anxious to improve/ (B) their circumstances, but are /(C) unwilling to improve themselves; / (D) they so remain bound / (E) no error.
The updated protocol provided for (A)/home isolation at the fully vaccinated asymptomatic persons (B)/and another categories and took (C)/ the vaccinat...
Below are given some sentences (1), (2), (3), (4) and (5). All the sentences represent the same idea expressed in different ways. You have to choose the...
If sunlight will not come for days together, it will cause lot of health problems.
While there may be a limited number of options and variety (A)/there are certainly enough quality destination to keep satisfy (B)/the appetite of those...
Relevant for Exams:
