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of <h1>Banks Must Use Form RMC-F for Franchisee Approval in Money Changing Activities; Post-Facto Reporting Required for New Agreements.</h1> AD Category - I Banks, AD Category - II, or FFMCs must apply to the Reserve Bank's Regional Office using Form RMC-F to appoint franchisees for money changing activities. The application must include a declaration confirming due diligence in selecting franchisees and their compliance with the franchising agreement and Reserve Bank regulations. The Reserve Bank grants approval for the initial franchisee arrangement. Subsequent franchisee agreements must be reported post-facto using Form RMC-F, accompanied by a similar declaration.
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