Authorization: Dealer – Category II (AD-II)
Roles & Responsibilities:
Collects remittance request, KYC documents, performs verification, and initiates the remittance transaction.
Authorization: Dealer – Category I (AD-I)
Roles & Responsibilities:
Processes the remittance, coordinates settlement with overseas correspondent banks, and ensures credit of funds to the beneficiary’s overseas account.
Processing Time: Normally within T+2 working days, subject to time zone differences, intermediary bank processing, and compliance checks in the beneficiary’s country