Domestic Money Transfer definition

Domestic Money Transfer refers to the money remittance facility offered to customers who do not have access to formal banking channel.
View Source
Domestic Money Transfer or “DMT” or “Remittance” shall mean the facility of depositing or transferring cash into the bank accounts as per the prevailing regulatory guidelines issued by the Reserve Bank of India and prescribed by the Sponsor Bank, wherever relevant and subject to the transaction limits as prescribed by RBI from time to time.
View Source

Examples of Domestic Money Transfer in a sentence

  • All payments made hereunder will be made by electronic method only, which includes, but is not limited to, Automated Clearing House (ACH) and Domestic Money Transfer (DMT).

  • During the term of this Agreement, Agent shall offer the On-line Money Transfer Services, which will include WUNA’s Domestic Money Transfer services, International Money Transfer services, Mexico Money Transfer services, and such other funds transfer or funds disbursement services that WUNA may introduce, from time to time.

  • The scope of Services shall be limited to electronic payment transactions including AEPS, Domestic Money Transfer, BBPS, Micro-ATM, PAN Enrollment etc..Few payment/collection/ banking services offered shall be subject to specific conditions,if any, as may bespecified by DMSPL from time to time.

  • MAN KI DEAL is inter alia engaged in the business of marketing, promotion and distribution of financial products/services i.e. ▇▇▇▇ payment, ticket booking, Domestic Money Transfer, Online Shopping & various other financial (“MAN KI DEAL Services”) using payment platform of Itz Cash Card Limited (“MAN KI DEAL”) through its Retail Network across India.

  • Such transfers are governed by Domestic Money Transfer (“DMT”) guidelines issued by Reserve Bank of India.

  • In addition to digital payment token services, FOMO Pay holds licenses for Domestic Money Transfer Service, Cross-border Money Transfer Service and Merchant Acquisition Service under the Payment Services Act of Singapore.

  • Tax Payment, Domestic Money Transfer (“DMT”) through IMPS & NEFT, Online Shopping & any other existing and upcoming online payment services (“MAN KI DEAL Services”).

  • Such transfers are governed by Domestic Money Transfer ("DMT") guidelines issued by Reserve Bank of India.