https://www.taxtmi.com/circulars?id=54177 Money changing business may be undertaken only by persons authorised by the Reserve Bank under the Foreign Exchange Management Act, 1999, and unauthorised activity is liable to penalty under the Act. The Master Direction consolidates the framework governing full fledged money changers, non-bank authorised dealers Category II and related foreign exchange transactions, subject also to permissions required under any other law. The Reserve Bank may issue further directions through circulars and amend the Master Direction accordingly. en-us Fri, 01 Jan 2016 00:00:00 +0530 Thu, 07 May 2026 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54177 Money changing business may be undertaken only by persons authorised by the Reserve Bank under the Foreign Exchange Management Act, 1999, and unauthorised activity is liable to penalty under the Act. The Master Direction consolidates the framework governing full fledged money changers, non-bank authorised dealers Category II and related foreign exchange transactions, subject also to permissions required under any other law. The Reserve Bank may issue further directions through circulars and amend the Master Direction accordingly. Circulars FEMA Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54177