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Pooja Kewalramani (Proprietor )     10 November 2016

Foreign exchange license

Respected Sir, Can anyone please guide me regarding the procedure of becoming an authorised dealer for foreign exchange.... Whom to contact/manual/online ????


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 7 Replies

adv.bharat @ PUNE (Lawyer)     10 November 2016

U need to take permission from

SEBI

MCA

And follow proper procedure for it.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     11 November 2016

What exactly you mean that you want to become Authorised Dealer for foreign exchange? Only Banks are Authorised Dealers. Individuals cannot be made into Authorised Dealers under forex.

adv.bharat @ PUNE (Lawyer)     12 November 2016

Only nationalised bank can become foreign exchange dealer.

Pooja Kewalramani (Proprietor )     12 December 2016

But except banks also... Can anyone be the exchanger of foriegn money ??? I mean there is also category II for dealers other than bank... 

 

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     13 December 2016

It is not correct to say only Nationalised Banks can be Authorised Banks

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     13 December 2016

Kindly be specific what exactly you wish to do under FEMA. Money Changer?

Pooja Kewalramani (Proprietor )     13 December 2016

Yes.... Want to become a money changer..

 


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