n NISM Certifications
XXI NISM Series XXI-A
Medium

As per the Prevention of Money Laundering Act, 2002, the threshold of the aggregate value of cash transactions to be reported by a financial institution is ________ .

Practice question from NISM XXI A for PMS - Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. Above Rs. 10 lakh in a calendar month

    Correct answer

  2. B

    Upto Rs. 5 lakh in a day in 30 days

  3. C

    Equal to and above Rs. 5 lakh in 30 days

  4. D

    Upto Rs. 10 lakh in a calendar month

Why this is the answer

Transactions exceeding Rs. 10 lakh must be reported under AML regulations.

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