Apr 29, 2024

Money Transfer Services Scheme – Submission of Statement on CIMS

Pursuant to Circular dated May 19, 2016, issued by the RBI, all authorised persons, who are Indian agents under the Money Transfer Service Scheme (‘MTSS’) (which is a way of transferring personal remittances from abroad to beneficiaries in India) are required to submit a quarterly report on the eXtensible Business Reporting Language platform. This report specified the quantum of remittances received through the MTSS. However, with the introduction of the Centralised Information Management System (‘CIMS’) platform, the reporting of the MTSS statement has been shifted to CIMS, by way of Circular dated March 5, 2024. This has become effective from the quarter ending March 2024, and the MTSS statement has been assigned a return code R130 for ease of reference.




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