19 Questions
What is the fastest and most prevalent mode of receiving inward remittances from abroad?
SWIFT Payment Orders (MT 103)
In which city is the SWIFT Centre for receiving the SWIFT Payment Orders (MT 103) located?
Mumbai
Which of the following is NOT a mode of receiving inward remittances from abroad as mentioned in the text?
Direct cash payment at the bank's branch in India
What is the most prevalent mode of receiving inward remittances from abroad?
SWIFT Payment Orders (MT 103)
How are the remittances denominated when received by SWIFT Payment Orders (MT 103)?
Both in Indian Rupees and Foreign Currency
How long does it typically take for the remittance to reach the ultimate beneficiary through SWIFT Payment Orders?
Within a couple of days
Which of the following is NOT mentioned as a means of receiving inward remittance from abroad?
Telegraphic transfer within India
How are the SWIFT Payment Orders (MT 103) denominated when received from abroad?
Either in Indian Rupees or in Foreign Currency
Which service is used for Inward Remittances and includes RIA Money and Western Union?
Money Transfer Service Scheme (MTSS)
What is the primary mode of receiving inward remittances from abroad?
SWIFT Payment Orders (MT 103)
Which mode of receiving inward remittances can reach the ultimate beneficiary within a couple of days from the date of remittance abroad?
SWIFT Payment Orders (MT 103)
Which of the following is NOT a mode of receiving inward remittances from abroad as mentioned in the text?
Bank draft or travelers cheque issued outside India
In which city is the SWIFT Centre for receiving the SWIFT Payment Orders (MT 103) located?
Mumbai
Which service is used for Inward Remittances and includes RIA Money and Western Union?
Money Transfer Service Scheme (MTSS)
Who is authorized to handle Inward Remittances directly in the given set-up?
CPC-FT, GTPC, and Central Processing Cell-Vostro Section
How are SWIFT Rupee Payment orders executed?
They are centralized at Vostro Section, Integrated Treasury Wing, Mumbai
What action should be taken if SWIFT payment orders are received from non-Correspondent Banks?
Execute the remittance only after verification of the Pass Sheet credit in the Nostro account concerned
Who is permitted to execute SWIFT payment orders denominated in Foreign Currency for all the branches?
Centralized Processing Cell-Forex Transactions (CPC-FT, GTPC) only
What is the primary factor determining whether CPC-FT, GTPC will send an e-mail intimation to branch for disposal instruction and credit the beneficiary account directly?
$10,000 value threshold for individual accounts
Learn about the various modes of receiving inward remittances, including SWIFT Payment Orders, Remit Money, cheques, bank drafts, travelers cheques, foreign currency notes, and postal orders. Understand the different methods used by banks abroad for inward remittances.
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