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Role of Authorized money changers and Dealers in Forex transactions

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Font Size Abc Small. A newly licensed FFMC should start its operations within a period of six months from the date of issuance of the license. The applicant that is the company or the entity needs to apply to the respective regional office of the RBI along with the documents.

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In addition to this, the Director of the company must fulfil the same criteria. A month before the expiry of the FFMC License, the applicant has to apply for the renewal of the license.



Any application for renewal after the expiry of license will not be entertained. The final thoughts suggest that it is necessary to obtain the FFMC License if you wish to carry out the foreign currency Exchange activity in India. And from the perspective of an individual, you must cross-check whether the company is FFMC licensed or not.

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The FFMCs authorized by the Reserve Bank of India deals in foreign exchange for the specified purpose like the purchase of foreign exchange form the residents and non-residents visiting our country. Also, you need to follow the post requirements and compliances after obtaining the FFMC license.

Shalini is a B. Further, She has a rich experience in Companies Act and Ammendment related topics.



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He does his best to provide accurate, useful info, but makes no guarantee that all readers will achieve the same level of success. If you have questions, consult a trained professional. Please enable JavaScript in your browser to complete this form. Home » Currency Trading » Know about forex trading license in India. April 28, Save Saved Removed 0. Previous Way to withdraw money from your Olymp trade account. Welcome to Red Wolf Revival!

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