Appointment of franchisees requires application in Form RMC F with due diligence declaration; later agreements are reported post facto.

AD Category I banks, AD Category II entities and FFMCs must apply to the Reserve Bank Regional Office in Form RMC F for appointment of franchisees, submitting a declaration of adequate due diligence and franchisee undertaking to comply with the franchising agreement and money changing regulations; initial franchisee arrangements receive Reserve Bank approval, and subsequent agreements must be reported post facto in Form RMC F with the same declaration.

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