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Questions and Answers
Who requires the submission of the Cash Transaction Report from banks?
Who requires the submission of the Cash Transaction Report from banks?
- Reserve Bank of India (correct)
- Ministry of Finance-Government of India
- Financial Intelligence Unit – India
- Financial Action Task Force
Which of the following is NOT a recipient of the Cash Transaction Report submitted by banks?
Which of the following is NOT a recipient of the Cash Transaction Report submitted by banks?
- Financial Intelligence Unit – India
- Financial Action Task Force
- State Bank of India (correct)
- Ministry of Finance-Government of India
What is the purpose of the Cash Transaction Report submitted by banks?
What is the purpose of the Cash Transaction Report submitted by banks?
- To regulate bank liquidity
- To monitor suspicious transactions (correct)
- To manage foreign exchange reserves
- To track international transactions
Which organization is responsible for analyzing the Cash Transaction Report submitted by banks?
Which organization is responsible for analyzing the Cash Transaction Report submitted by banks?
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What is the frequency of submitting the Cash Transaction Report by banks?
What is the frequency of submitting the Cash Transaction Report by banks?
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Study Notes
Cash Transaction Report (CTR) Submission
- The Cash Transaction Report (CTR) of banks must be submitted to the Financial Intelligence Unit – India.
- The Reserve Bank of India is also involved in the submission process.
- The Financial Action Task Force is an international body that sets standards for combating money laundering and terrorist financing, which is relevant to the CTR submission.
- The Ministry of Finance, Government of India, is also connected to the CTR submission process.
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Description
This quiz tests your knowledge on the authority to which banks submit their Cash Transaction Reports. Learn more about banking regulations and financial institutions.
