What is International Money Transfer Service?
International Money Transfer is a service for the transfer of funds from any foreign country to your own country. MTSS, i.e. Money Transfer Service Scheme, is an RBI scheme mainly for the benefit of family maintenance only. The money transfer service scheme makes it simple to send money to family members who live in India or are travelling there as tourists. It is among the simplest methods for sending money to India. The MTSS money transfer service plan is an inward remittance programme that makes it simple and quick to send money from overseas to recipients in India. However, only MTSS allows for personal transfers for family support and international visitors to India. Additionally, no outbound transfers are permitted using the money transfer service programme. To ensure that transfers of foreign currency to India proceed quickly, MTSS has been introduced. The government encourages inward remittances to increase foreign exchange reserves in addition to assisting citizens with money