What is the objective of the Scheme for appointing Franchisees by AD Category Banks, ADs Category-II and FFMCs for undertaking restricted money changing activities?
Money Changing Activities - As on Oct 21, 2021
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Money changing franchise scheme expands foreign exchange conversion access for travellers through banks, authorized dealers, and FFMCs. The Scheme permits Authorized Dealers and Full Fledged Money Changers to appoint franchisees to expand money changing services, aiming to enhance access to foreign exchange conversion for travellers and tourists, including Non Resident Indians, by enlarging the network at tourist centres and major cities and allowing operation during extended hours and on holidays.
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Money changing franchise scheme expands foreign exchange conversion access for travellers through banks, authorized dealers, and FFMCs.
The Scheme permits Authorized Dealers and Full Fledged Money Changers to appoint franchisees to expand money changing services, aiming to enhance access to foreign exchange conversion for travellers and tourists, including Non Resident Indians, by enlarging the network at tourist centres and major cities and allowing operation during extended hours and on holidays.
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