GLOBAL REMITTANCE

Wire transfers are the cheapest mode of remittance. 1X2 A remitter visits a bank in Dubai to transfer AED 50000. The bank has a vostro account with ICICI bank. What does the bank do then? 3 India is the largest remittance receiving country in the world. 1 The person or entity sending money to India is called 1 INR account of JP Morgan Chase held with ICICI bank in India is a 2 TAT for disbursal of remitted amount to a VISA debit card account is ----------- day(s). 2X3 A foreign currency account that a bank holds with an overseas correspondent bank in another country is known as 1 If the money is to be remitted to an ICICI bank account of the beneficiary, TAT will be 2 working days after ICICI Bank receives the funds. 1X2 Which of the following is a traditional mode of inward remittance? 2X3 Which of the following cannot be a purpose of Inward Remittance to India? 4 Every Nostro account of ICICI bank is the Vostro account for the correspondent bank. 2X1 A correspondent bank is a branch of an Indian bank in a foreign country. 2 Card rate is the forex rate given to retail customers. 1 Interbank rate for Forex transactions is a fixed rate. 2 Which of the following entities is not involved in Inward Remittance Process? 4 A beneficiary can collect the payment in cash from ICICI branches. 2X1 Remitters can avail technology-enabled remittance products of ICICI bank by 4 Traditional remittance products are locally banked. 1 ICICI Bank can even disburse the funds to the beneficiary by crediting his VISA credit card account. 1 Banks cannot issue demand draft for disbursing the remitted money to the beneficiary. 2 SWIFT stands for 3 Interbank rates are also called Deal rate. 1X2 Inward remittances to ICICI bank accounts are processed by 2X1 Longer TAT is a shortcoming of traditional modes of transfers. 1 Payment modes does not depend on the remittance product being used at the origination end. 2 In case of Wire transfer, the remitter 4X1 SWIFT platform has no role in wire transfers. 2 Who is wholly responsible for the payment details communicated to the beneficiary bank through the SWIFT platform? 1 In which of the following cases Provisional Credit approvals under cash letter service cannot be extended? 4X3X What does SWIFT message MT 103 indicate? 3X2 Which of the following currencies is not eligible for ICICI Banks Wire Transfer facility? 3X4 INR DD Drawing has been the traditional mode of remittance especially from the GCC countries 1 Remittances through Foreign Currency Cheques can be processed for ICICI Bank account holders only. 1 How long does it take to credit a non-ICICI bank account of the beneficiary once ICICI Bank receives the funds through wire transfer? 2X1 Under cash letter service a single cheque is attached with a cash letter and sent to the correspondent bank for clearing. 1X2 SGD (Singapore Dollar) is an eligible currency for Wire Transfers. 1

Cash letter service has low cost of clearing and fast turnaround time in receiving the provisional credit. 2//1 Currently, only cheques -----------currency units are being sent under the cash letter service. 1 Cash letter service is not available for Canada and Singapore. 2 A remitter has to walk into ----------------to request for an INR DD issued on ICICI Bank location in India. 4 All cheques above 10000 currency units to be sent under collection in UK and US are sent under ____________. 4X2x3x1 For GBP cheques sent under FCS, the credit is received by the ----------------day from the time that the cheque is received by the correspondent bank in UK. 3X1 Which of the following is not TRUE about Collection Service? 4X1 For USD cheques sent under FCS, confirmed credit is provided to ICICI Bank within 6 - 15 working days from the date of receipt of cheque in the US 1 The benefit of collection service is that it ensures receiving of clear funds 1 Which of the following is not TRUE about Final Credit Service? 4 A remitter cannot request a Wire Transfer for SEK (Swedish Krona) currency. 2 After the bank or Exchange House issues an INR demand draft to the remitter across the counter, it sends the advice to ICICI Bank------------1X3 Which of the following currencies is eligible for ICICI Banks Wire Transfer facility? 4X1 ICICI Bank branch honours the INR DD in clearing if 4 In case of Wire transfer, beneficiaries holding ICICI Bank accounts receive money within 24 hours of ICICI Bank receiving the funds in its account. 1 Cheque transfer facility is offered through www.money2india.com. 2X1 Remitters can transfer money from their nriDirect Account to ICICI Bank at 2X3 Which of the following products is basically a web-based wire transfer facility? 1 meNRI is 3 Foreign Outward Remittances cannot be done for gifting purposes. 2 Which of the following currency is not eligible for Cheque Transfer? 3X1x4 In USA, ICICI Bank has alliance arrangements with Bank of New York to offer remittance services to NRIs. 1X2 E-transfer facility is available only in USA. 2/1 Net Express is not offered in 4 What is the minimum remittance amount in e-transfer? 4X1 Which of the following services is not available to the remitters using Money2India.com? 2X4 ICICI bank has alliance arrangements with Wells Fargo in 2 If the chosen disbursement mode is DD issuance, TAT for e-transfer process is 2X3 Wells Fargo charges USD5 per remittance. 1 The ACH clearing period for e-transfer is of 3 days. 1 Which of the following remittance products is not offered through www.money2india.com? 4 A user needs to go through the short registration process every time he uses the services offered by Money2India.com. 2 Cheque Transfer can be used for transferring funds in --------------currencies to an account with ICICI Bank in India 2 ABA Routing No. is an unique 5 digit number that identifies a bank branch in US 1X2 Cheque Transfer cannot be used for transferring funds in EURO. 1X2 What is the maximum daily remittance limit when the delivery mode is Demand drafts? 4X1 In which country ICICI bank offers Net Express using Biller Model? 3

A customer will be assigned different user IDs and passwords for each different remittance products available in Money2India.com. 2 A Person of Indian Origin has inherited the assets from a person who inherited the assets from a person who was resident in India. Is he eligible for outward remittances facility? 1 To completing the registration process in Money2India.com the customer has to take a print out of the completed registration form and send it to ICICI Bank. 1X2 NRIs living in ------------ can avail MeNRI product. 2X4 The period when the Cheque Transfer beneficiary cannot withdraw the amount until a certain number of calendar days are completed is known as 3 NRI Direct is an alliance product offered jointly by ICICI Bank and DBS in Singapore. 2 Under Speed Remittance, beneficiaries holding an ICICI Bank account receives money 3 Net Express is offered in 4 TAT for Lloyds Sunrise transfer is 3X2 Which of the following products is also known as Check Lock Box? 4 The maximum daily remittance limit is USD 3500 if the delivery mode is credit to bank accounts. 1X2 To avail e-transfer facility a remitter must have an account with a bank which has alliance arrangements with ICICI bank. 1X2 NRIs living in Qatar can avail 4X3 The maximum weekly remittance limit is USD 12000 if the delivery mode is credit to VISA cards. 1 Which of the following disbursal modes is currently not offered by ICICI bank for the transactions received through Speed Remittances? 2X3 What will be the TAT if USD 2000 is remitted through Cheque Transfer? 3X2 There is no daily limit for remitting money to India using Wells Fargo money transfer service. 1X2 ICICI bank has alliance arrangements with Lloyds TSB in 2 A correspondent bank or exchange house not accessing ICICI Banks M2I Workstation cannot send Speed Remittance request. 1X2 Instant Transfer facility is available in 4 Customers in Sri Lanka can use Instant Transfer to remit money to India. 1 As of now, only account holders of ICICI Bank Bahrain can request for the instant transfers through the internet banking website. 1 Foreign Investment is not an eligible purpose for outward remittance. 2 Which of the following currencies is not covered under Foreign Currency Demand Drafts facility? 3X4 Which of the following is not an eligible purpose for foreign outward remittance? 4 What could be the charge code if the remittance amount is credited to the beneficiary in full? 1 Outward Remittance facility of ICICI Bank is available to 3 Which of the following covers a greater range of currencies?2X1 Which of the following is a cheaper mode of outward remittance? 2 The special remittance product designed for Indian immigrants moving to Canada is known as 4X3x2 Who issues the DD for outward remittance requests received through infinity? 2 TAT for Wire mode of outward remittance is 2X3x All outward remittance transactions are primarily guided by 2 Where the charge code is not mentioned, whom will the bank charge? 1 In case of stop payment, the remitter will get back the entire amount he remitted as the bank cant

levy any charge as per FEMA rules. 2 What is the commission charge for non-account holding remitters if they choose DD option? 3X2 Banks cannot issue demand draft for disbursing the remitted money to the beneficiary. 2 Which of the following is a quicker mode of outward remittance? 1 All outward remittance transactions are primarily guided by 2 Which of the following transactions cannot be considered as Current Account Transactions? 2/3 Who is eligible for outward remittance? 4/2/1 Remittance towards freight of vessel chartered by a PSU should be approved by 3 Remittance towards advertisement in foreign print media should be approved by 1/2 Whose approval is required if purpose of outward remittance is cultural tours? 1 Remittance of sponsorship of sports activity should be approved by 2X TAT for disbursal of remitted amount to a VISA debit card account is ______ day(s).1 After the bank or Exchange House issues an INR demand draft to the remitter across the counter, it sends the advice to ICICI Bank _____________1/3 Cheque Transfer can be used for transferring funds in _________ currencies to an account with ICICI Bank in India 1 Payment towards any consultancy service procured from outside India can be considered as2x3x1 Remittance towards maintenance of foreign currency accounts in and outside India is treated as Capital Account transaction1 1 Limit for remittance towards travel abroad is 4/2x Limit for borrowing in foreign currency by individuals resident in India from a close relative staying abroad is 1 There is no monetary limit acquisition or transfer of immovable property outside India f/t The limit for remittance towards maintenance expense of a patient or accompanying attendant for medical treatment is 1 An NRI or PIO who acquired the assets out of foreign resources is eligible for outward remittance facility.1 A citizen of Nepal who has retired from an employment in India is __________ for outward remittance facility.2 The limit permissible for repatriation of current income out of NRO account is 3/1x4x The limit for repatriation from NRO account of Sale proceeds of residential property acquired out of funds remitted from abroad or NRE or FCNR accounts 3 Which of the following assets or funds is not eligible for repatriation? 3/1 In case of residential property, repatriation of sale proceeds is restricted to 3/

Remittance towards maintenance of foreign currency accounts in and outside India is treated as Capital Account transaction.1 Remittance facility towards maintenance of close relatives abroad by citizens of foreign states employed in India is withdrawn if the remitter is a citizen of Pakistan.2/1

Liberalised remittance scheme is available for resident individuals whose transaction amount does not exceed _________ per financial year. 1 Citizens of Sri Lanka can avail the benefit of sale proceeds of immovable property acquired out of rupee source. 2 For GBP cheques sent under FCS, the credit is received by the _____________day from the time that the cheque is received by the correspondent bank in UK.2 A remitter has to walk into _____________ to request for an INR DD issued on ICICI Bank location in India.4 NRIs living in _________ can avail MeNRI product.1x A correspondent bank or exchange house not accessing ICICI Banks M2I Workstation cannot send Speed Remittance request. 2 Remittance towards acquisition or transfer of immovable property outside India can be considered as 2x1x Which of the following transactions can be considered as Capital Account transactions?1x2 In case of investment in foreign securities, there is no monetary limit for resident employee of an Indian office 1 An exporter can open, hold and maintain a foreign currency account outside India.1 Repatriation of funds by foreign tourists from NRO account is eligible for outward remittance facility.1 Amount of claim or maturity proceeds of insurance policy cannot be repatriated.1x What is the limit for remittance for a foreign tourists from its NRO account?3x Currently, only cheques ___________ currency units are being sent under the cash letter service.1 Net Express is offered in 4 Limit for remittance towards education abroad is4x A Resident Power of Attorney Holder is permitted to remit provided 4