Questions and Answers
Who requires the submission of the Cash Transaction Report from banks?
Which of the following is NOT a recipient of the Cash Transaction Report submitted by banks?
What is the purpose of 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?
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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.
