https://www.taxtmi.com/circulars?id=54177 Money changing business may be undertaken only by Reserve Bank-authorised persons under FEMA, and the consolidated directions regulate FFMCs, non-bank AD Category II entities, franchisees and customer foreign exchange transactions. Eligibility depends on incorporation, minimum Net Owned Funds, prescribed documentation, and fit and proper assessment, while branch expansion, franchise appointments and renewal are subject to prior approval, due diligence, reporting and AML/KYC/CFT compliance. The operational framework covers foreign exchange purchase and sale, encashment certificates, limits on cash dealings, record maintenance, reporting, audits, foreign currency accounts, revocation of licence, and director suitability requirements. en-us Fri, 01 Jan 2016 00:00:00 +0530 Fri, 03 Apr 2026 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54177 Money changing business may be undertaken only by Reserve Bank-authorised persons under FEMA, and the consolidated directions regulate FFMCs, non-bank AD Category II entities, franchisees and customer foreign exchange transactions. Eligibility depends on incorporation, minimum Net Owned Funds, prescribed documentation, and fit and proper assessment, while branch expansion, franchise appointments and renewal are subject to prior approval, due diligence, reporting and AML/KYC/CFT compliance. The operational framework covers foreign exchange purchase and sale, encashment certificates, limits on cash dealings, record maintenance, reporting, audits, foreign currency accounts, revocation of licence, and director suitability requirements. Circulars FEMA Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54177