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 ... Summary
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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