JOSH - Session 3

1.   Foreign remittance enable the smooth transfer of funds between people living  in

• a.       India and US

• US and UK

• India & abroad

• All of the above

1.    What are the type of remittance?

• Outward remittance

• Inward remittance

• Both a and b are correct

• Inland remittance

Alok works abroad as an engineer. Every month, he sends a sizeable chunk of his salary back home to his elderly parents. Now, whenever he transfers money to their bank account, probably a saving account he is making a remittance. For the parents who receive the money, which type of remittance it is?

• Outward remittance

• Inward remittance

• None of the above

• Both A and B are correct

1.    What can be the reasons for inward remittance?

• a.       Education

  treatment

• b.       Medical

• c.       Travel Expenses

• d     All of the Above

1 Under MTSS, every inward remittance is capped at

• 1500 $

• 2000$

• 2500$

• 1000$

1.    Under MTSS, a beneficiary can receive a maximum of, how many inward remittances in a calendar year?

• 50

• 20

• 40

• 30

1.    What is the first step when remitter wants to initiate the remittance from their bank account?

• a.    Remitting Bank gives instructions to its correspondent NOSTRO bank to transfer the amount

• a.     Remitter request for remittance with its Remitting Bank

• a.    Bank’s NOSTRO correspondent further credits the amounts to beneficiary bank

• None of the above

1.    Which are the types of remittances handled by BGSS on behalf of BOB?

•    IRTT

• EEFC

• IRTT

• All of the above

1.    What is the purpose code for Personal gifts and donations?

• P 1401

• a.       P0103

•       P1302

•        P1007

1.    What is the purpose code for Advertising, trade fair service?

• a.      P1007

• b.      P1002

• c.       P1301

• d.      None of the above