The Reserve Bank of India (RBI) on October 01, 2026, issued a notification regarding updates in the Master Direction – Money Transfer Service Scheme (MTSS).
The following has been stated: -
•The RBI has consolidated the directions governing the MTSS, which facilitates inward personal remittances from abroad to beneficiaries in India, with no outward remittances permitted under the scheme.
•Authorisation to act as an Indian Agent is granted by the RBI under Section 10(1) of FEMA, subject to eligibility requirements including minimum Net Owned Funds of ₹50 lakh.
•The framework covers Overseas Principals, Indian Agents and Sub-Agents, including their authorisation, due diligence, KYC/AML/CFT, reporting, audit and inspection requirements.
The detailed notification is given in the document below.
[Notification No.: RBI/FED/2016-17/52 FED Master Direction No.1/2016-17]
