Authorisation as Authorised Dealer Category II expands permitted non trade current account foreign exchange services for select licensed entities. The circular establishes Authorised Dealer - Category II, permitting selected upgraded FFMCs, specified cooperative and regional rural banks and other entities to undertake specified non trade current account foreign exchange transactions in addition to FFMC activities, subject to eligibility criteria (including minimum net owned funds for upgradation), reporting, inspection/audit and KYC/anti money laundering norms.
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Provisions expressly mentioned in the judgment/order text.
Authorisation as Authorised Dealer Category II expands permitted non trade current account foreign exchange services for select licensed entities.
The circular establishes Authorised Dealer - Category II, permitting selected upgraded FFMCs, specified cooperative and regional rural banks and other entities to undertake specified non trade current account foreign exchange transactions in addition to FFMC activities, subject to eligibility criteria (including minimum net owned funds for upgradation), reporting, inspection/audit and KYC/anti money laundering norms.
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