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of <h1>FFMC and non-bank AD Category-II must renew licenses 2 months before expiration; late renewal not allowed.</h1> An application for license renewal by an FFMC or non-bank AD Category-II must be submitted two months before the license expires, or within any other timeframe specified by the Reserve Bank. If submitted on time, the license remains valid until it is either renewed or the application is rejected. Applications for renewal cannot be submitted after the license has expired.
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