Question
Which of the following accurately describes the Reserve
Bank of India's revised Domestic Money Transfer (DMT) guidelines effective from November 1, 2024? A) The changes mandate maintenance of records for beneficiaries of cash pay-out services. Â B) Every transaction must now be validated through an Additional Factor of Authentication (AFA). C) The remitting banks are required to comply with provisions related to cash deposits under the Income Tax Act, 1961.Solution
The RBI's updated guidelines for DMT services aim to enhance security by requiring records of beneficiaries and mandating additional authentication for transactions, thereby promoting greater compliance and security in money transfers. ·        Under the new framework, remitting banks will be required to maintain records of the name and address of beneficiaries for cash pay-out services. ·        This has been done to improve traceability and accountability in cash-based transactions. ·        The RBI has said every transaction by a remitter will now require validation through an Additional Factor of Authentication (AFA). ·        Remitting banks must adhere to the regulations outlined in the Income Tax Act of 1961 regarding cash deposits.
- If Rina can complete a project in 36 days by working 9 hours a day, how many hours per day should she work to complete the project in 18 days?
Raman and Shyam can finish a task in 9 days working together. Shyam can finish that task alone in 12 days. How much time will Raman alone take to finish...
Saurabh can complete a piece of work in 20 days. He worked for 5 days and left. Anirudh completed the remaining work in 12 days. If both of them had do...
- ‘A’ takes 20 days to do some work. If ‘B’ is 20% more efficient than ‘A’, then find the time taken by them to finish 99% of the work together.
A is five times as efficient as B and can finish a piece of work in 24 days less than B. B can finish this work in how many days?
Anil, Anshika and Anamika can do a certain piece of work in 64 days, 72 days and 96 days, respectively. All of them started working together but after _...
Raju, Shubham, and Mohan can work for 15 days, 20 days and 25 days respectively. In how many days will the work be finished if they do it on alternate d...
A2 type ‘P’ pipes can fill a tank in 350 hours, while B2 type ‘Q’ pipes can fill the same tank in 504 hours. (10A × 6B) t...
Akhil and Nikhil together can complete a work in 6 days while Nikhil alone takes 18 days to complete 60% of the work. If the efficiency of Sachin is 25%...
Carol, Bruce, and Peter can decorate a venue in 7, 14, and 21 days respectively. If they start working together, but Carol leaves 3 days before completi...
Relevant for Exams:
