https://www.taxtmi.com/circulars?id=1937 Memorandum prescribes operational rules and supervisory controls for Authorised Money Changers under the Foreign Exchange Management Act, 1999, including permissible purchase and sale of foreign currency, requirements for encashment certificates and cash memos, market determined exchange rates and display obligations, limits on foreign currency holdings, prohibition of cash settlement between authorised parties, procedures for replenishment and export of surplus currency, recordkeeping and reporting obligations (including prescribed monthly/quarterly statements and inclusion of franchisee transactions), concurrent audit requirements, Reserve Bank inspection powers and a franchising Scheme for appointing franchisees with specified reporting and inspection clauses. en-us Tue, 12 Nov 2002 00:00:00 +0530 Fri, 03 Oct 2008 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1937 Memorandum prescribes operational rules and supervisory controls for Authorised Money Changers under the Foreign Exchange Management Act, 1999, including permissible purchase and sale of foreign currency, requirements for encashment certificates and cash memos, market determined exchange rates and display obligations, limits on foreign currency holdings, prohibition of cash settlement between authorised parties, procedures for replenishment and export of surplus currency, recordkeeping and reporting obligations (including prescribed monthly/quarterly statements and inclusion of franchisee transactions), concurrent audit requirements, Reserve Bank inspection powers and a franchising Scheme for appointing franchisees with specified reporting and inspection clauses. Circulars FEMA Tue, 12 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1937