Permitted foreign exchange activities define the scope of authorised persons, including money changers and category-based transaction powers. Authorised persons may facilitate specified foreign exchange activities subject to any express permission or restriction by the Reserve Bank. AD Category-I may undertake any current account and capital account transaction permissible under the Act. AD Category-II may undertake non-trade current account transactions, excluding gifts and donations, and may handle foreign trade transactions up to the prescribed transaction limit. AD Category-III may engage only in activities set out in the Reserve Bank authorisation. Full Fledged Money Changers may purchase and sell foreign currency notes and travellers' cheques and act as agents under the Money Transfer Service Scheme.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Permitted foreign exchange activities define the scope of authorised persons, including money changers and category-based transaction powers.
Authorised persons may facilitate specified foreign exchange activities subject to any express permission or restriction by the Reserve Bank. AD Category-I may undertake any current account and capital account transaction permissible under the Act. AD Category-II may undertake non-trade current account transactions, excluding gifts and donations, and may handle foreign trade transactions up to the prescribed transaction limit. AD Category-III may engage only in activities set out in the Reserve Bank authorisation. Full Fledged Money Changers may purchase and sell foreign currency notes and travellers' cheques and act as agents under the Money Transfer Service Scheme.
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