What Does Authorized Money Dealer License Mean?

The Reserve Bank of India (RBI) requires obtaining a license from the body for a bank or financial institution to be authorized money changers who engage in forex currency exchange activity.

Documents Required For Applying:

1. Proof of an existing business (accounts, incorporation certificates, etc.)
2. Copy of company’s MOA (with money changing activity in object clause)
3. Customer information report
4. A certified copy of board resolution to apply for Full-Fledged Money Changer (FFMC) license with RBI
5. A declaration of creating a sound policy of framework to prevent financial crimes according to RBI regulations

What Is The Process Of Registration?

1. Submission of a complete and detailed application.
2 Review of the director of the applicant institution under the ‘fit and proper’ criteria of RBI. If no problems are found, the FFMC license would be issued within 2-3 months.


Applicants who are a registered company and have Net Owned Funds (NOF) of minimum 25 Lakhs for single branch and 50 Lakhs for multiple branches are eligible for the FFMC license.

Facing Problems?
Lets Get in Touch Now