Module: | KYC, NPAs, Advances & Investment Valuations
Q239: A "Domestic wire transfer" can involve a payment message transfer system located outside of India, provided the ordering and beneficiary financial institutions are both located in India.
✅ Correct Answer: A
Domestic wire transfer refers to any wire transfer where the ordering financial institution and beneficiary financial institution are located in India.
This term refers to any chain of wire transfers that takes place entirely within the borders of India, even though the system used to transfer the payment message may be located in another country.
This term refers to any chain of wire transfers that takes place entirely within the borders of India, even though the system used to transfer the payment message may be located in another country.