Money changer business
Ajit
(Querist) 06 September 2011
This query is : Resolved
(1)What is the difference between Full fledged money changer(FFMC) and authorized dealer category-II?
(2)Whether company can directly apply for authorized dealer category license with RBI or first they will have to procure FFMC license?
(3)What is the cap on FDI in forex sector in India?
(4) Can track record of Foreign entity already in forex business be used in India for directly obtaining AD-II license?
Raj Kumar Makkad
(Expert) 06 September 2011
You visit the following official link of RBI nd get your desired reply by studying there:
http://www.rbi.org.in/scripts/FAQView.aspx?Id=54
Ajit
(Querist) 07 September 2011
Sir,i know the procedure for obtaining FFMC license and gone through the guidelines.....but i need the answer of these questions:
(1)What is the difference between Full fledged money changer(FFMC) and authorized dealer category-II?
(2)Whether company can directly apply for authorized dealer category license with RBI or first they will have to procure FFMC license?
(3)What is the cap on FDI in forex sector in India?
(4) Can track record of Foreign entity already in forex business be used in India for directly obtaining AD-II license?
