Forex Correspondent scheme permits authorised dealers to appoint agents for money changing and foreign exchange dealings. An Authorised Dealer Category-I or Category-II may appoint one or more entities as Forex Correspondents to conduct money changing business under a principal-agent model. A Forex Correspondent may deal in foreign exchange with its customers and with other entities in accordance with the Forex Correspondent 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.
Forex Correspondent scheme permits authorised dealers to appoint agents for money changing and foreign exchange dealings.
An Authorised Dealer Category-I or Category-II may appoint one or more entities as Forex Correspondents to conduct money changing business under a principal-agent model. A Forex Correspondent may deal in foreign exchange with its customers and with other entities in accordance with the Forex Correspondent Scheme.
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