FFMC license for foreign exchange dealers in India
Full fledged money changers (FFMC) is a license that is issued to agents who are involved in the exchange of foreign currency. This license gives them the authority to accept foreign currency from Indian and foreign nationals and exchange it with foreign visitors. This license is regulated by the Reserve Bank Of India and authorized by Foreign Exchange Management Act, 1999. Dealing in foreign exchange activities without a legit license is not acceptable by the RBI and that agency is obligated to pay heavy penalties. Get your license verified by RBI with the help of professionals from Corpbiz. Consult for expert guidance!