Money Exchanger License
This query is : Resolved
04 February 2011
Sir,
I want to apply to get the Money Exchanger License.What is the procedure? & what are the documents should be included if it is pvt ltd?
Regards,
S.Jegadeesan.
I want to apply to get the Money Exchanger License.What is the procedure? & what are the documents should be included if it is pvt ltd?
Regards,
S.Jegadeesan.
05 February 2011
The Reserve Bank of India Act (RBI) of 1934 established the incorporation of a reserve bank with central functions and procedures for conducting foreign exchange and banking transactions. The foreign exchange license under the RBI Act defines the role of authorized dealers and the provisions of the Foreign Exchange Regulation Act (FERA) of 1973.
for more info:-
https://www.rbi.org.in/scripts/PublicationDraftReports.aspx?ID=447
for more info:-
https://www.rbi.org.in/scripts/PublicationDraftReports.aspx?ID=447
06 February 2011
Kindly see that there are 2 basic conditions:-
1.paid up share capital + reserves of Rs. 25 lakh for 1 branch FFMC or Rs. 50 lakh for multi branch.
2.Object clause must contain the FFMC clause
after you fulfill the same ther are some other formalities to follow.
Anuj
9810106211
1.paid up share capital + reserves of Rs. 25 lakh for 1 branch FFMC or Rs. 50 lakh for multi branch.
2.Object clause must contain the FFMC clause
after you fulfill the same ther are some other formalities to follow.
Anuj
9810106211
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ITDS U/S.194T of Firm
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Invertaded duty struture
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST not cancelled by tenant
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
