n NISM Certifications
XXI NISM Series XXI-A
Medium

Record of transactions to be maintained under the Prevention of Money Laundering Act includes cash transactions of the value of more than ________.

Practice question from NISM XXI A for PMS - Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Rs.1 crore

  2. B

    Rs.25 lakh

  3. C

    Rs.20 lakh

  4. Rs.10 lakh

    Correct answer

Why this is the answer

Under PMLA, cash transactions exceeding Rs.10 lakh must be recorded and reported to authorities to prevent money laundering.

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