n NISM Certifications
X NISM Series X
Medium

If cash transactions are above ______ then a record of such transactions has to be maintained under the Prevention of Money Laundering Act (PMLA).

Practice question from NISM Series XA- Investment Adviser (Level 1) Mock Test 7 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Rs. 5 lakhs

  2. Rs. 10 lakhs

    Correct answer

  3. C

    Rs. 25 lakhs

  4. D

    Rs. 50 lakhs

Why this is the answer

PMLA mandates recording of cash transactions exceeding Rs. 10 lakh.

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