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Principles & Practices of bankingWhat is CTR

Cash Transaction Reports - CTR FIU India

JAIIB Exam Study Material: Cash Transaction Reports - CTR FIU India

The Prevention of Money-laundering Act, 2002, and rule thereunder require every reporting entity to furnish to FIU-IND information relating to -

1.) All cash transactions of the value of more than rupees ten lakhs or its equivalent in foreign currency

2.) All series of cash transactions integrally connected to each other which have been individually valued below rupees ten lakh or its equivalent in foreign currency where such series of transactions have taken place within a month and the monthly aggregate exceeds an amount of ten lakh rupees or its equivalent in foreign currency.

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