{"id":1391,"date":"2021-01-18T11:25:52","date_gmt":"2021-01-18T11:25:52","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=1391"},"modified":"2021-01-18T11:45:49","modified_gmt":"2021-01-18T11:45:49","slug":"ffmc-registration-from-rbi","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/","title":{"rendered":"FFMC Registration from RBI: A Complete Guide on the Process"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Any company or an individual who wants to carry out forex activities, such as trading or exchange needs to first obtain FFMC Registration from RBI. Further, a Full Fledged Money Changer is governed by section 10 of FEMA 1999 and the yearly guidelines and directions issued by RBI. Also, the other name for these entities is Authorised Money Changers. <\/p>\n\n\n\n<p>In this blog, we will discuss the concept and process\nto obtain FFMC Registration from RBI.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a55bb23da989\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a55bb23da989\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Concept_of_FFMC_Registration_from_RBI\" title=\"Concept of FFMC Registration from\nRBI\">Concept of FFMC Registration from\nRBI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Concept_of_Authorised_Money_Changer\" title=\"Concept of Authorised Money Changer\">Concept of Authorised Money Changer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Types_of_FFMC_Registration_from_RBI\" title=\"Types of FFMC Registration from RBI\">Types of FFMC Registration from RBI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Conditions_to_Obtain_FFMC_Registration_from_RBI\" title=\"Conditions to Obtain FFMC\nRegistration from RBI\">Conditions to Obtain FFMC\nRegistration from RBI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Permitted_Activities_for_FFMC_Registration_from_RBI\" title=\"Permitted Activities for FFMC\nRegistration from RBI\">Permitted Activities for FFMC\nRegistration from RBI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#When_can_FFMC_Registration_from_RBI_be_Revoked\" title=\"When can FFMC Registration from RBI\nbe Revoked?\">When can FFMC Registration from RBI\nbe Revoked?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Documents_Required_for_FFMC_Registration_from_RBI\" title=\"Documents Required for FFMC\nRegistration from RBI\">Documents Required for FFMC\nRegistration from RBI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Process_to_Obtain_FFMC_Registration_from_RBI\" title=\"Process\nto Obtain FFMC Registration from RBI\">Process\nto Obtain FFMC Registration from RBI<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Application_for_FFMC_Registration_from_RBI\" title=\"Application for FFMC Registration\nfrom RBI\">Application for FFMC Registration\nfrom RBI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Fit_Proper_Criteria\" title=\"Fit &amp; Proper Criteria\">Fit &amp; Proper Criteria<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Clearance_from_Empowered_Committee\" title=\"Clearance from Empowered Committee\">Clearance from Empowered Committee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Review_by_Apex_Bank\" title=\"Review by Apex Bank\">Review by Apex Bank<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Commencement_of_Business_Operations\" title=\"Commencement of Business Operations\">Commencement of Business Operations<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Post_FFMC_Registration_Requirements\" title=\"Post FFMC Registration Requirements\n\">Post FFMC Registration Requirements\n<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/ffmc-registration-from-rbi\/#Conclusion\" title=\"Conclusion \">Conclusion <\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_FFMC_Registration_from_RBI\"><\/span>Concept of FFMC Registration from\nRBI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term <strong><a href=\"https:\/\/swaritadvisors.com\/ffmc-license\" class=\"text-primary\">Full Fledged Money Changer License<\/a><\/strong> or FFMC Registration from RBI means a permit that is necessary to obtain for starting an AMC or Authorised Money Changer business in India. However, to avail of this license, one needs to adhere with the directions issued by RBI in the Master Circular, together with the provisions of section 10 of FEMA 1999.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Authorised_Money_Changer\"><\/span>Concept of Authorised Money Changer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the provisions mentioned under section of Foreign\nExchange Management Act 1999, a full fledged money changer means an individual\nor a company that operates in the activities and affairs concerning the foreign\nexchange. Moreover, the term \u201cAuthorised Money Changer\u201d or \u201cAMC\u201d comprises of off-shore\nBanking Units as well.<\/p>\n\n\n\n<p>Besides this, an AMC is eligible to buy and sell forex, currencies,\nand coin from the travelers visiting India in against of certain approved\nsecurities, such as Traveler\u2019s Cheque, Conversion of Coins, and Currency Notes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Types_of_FFMC_Registration_from_RBI\"><\/span>Types of FFMC Registration from RBI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The different type of FFMC Registration form RBI are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Types-of-FFMC-Registration-from-RBI.png\" alt=\"Types of FFMC Registration from RBI\" class=\"wp-image-1396\" width=\"596\" height=\"378\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Types-of-FFMC-Registration-from-RBI.png 904w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Types-of-FFMC-Registration-from-RBI-300x190.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Types-of-FFMC-Registration-from-RBI-768x488.png 768w\" sizes=\"(max-width: 596px) 100vw, 596px\" \/><\/figure><\/div>\n\n\n\n<ol><li>Authorised\nDealers Category I Banks;<\/li><li>Authorised\nDealers Category II<\/li><li>Full\nFledged Money Changers<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conditions_to_Obtain_FFMC_Registration_from_RBI\"><\/span>Conditions to Obtain FFMC\nRegistration from RBI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The conditions to obtain FFMC\nRegistration from RBI are as follows:<\/p>\n\n\n\n<ol><li>The applicant must have public or <strong><a class=\"text-primary\" href=\"https:\/\/swaritadvisors.com\/private-limited-company-registration\">private limited company<\/a><\/strong> registered under the <strong>Companies Act 2013<sup><a href=\"http:\/\/ebook.mca.gov.in\" class=\"text-primary\"><strong><em>[1]<\/em><\/strong><\/a><\/sup><\/strong>;<\/li><li>It needs to have at least Rs 25 crores as NOF (Net Owned Funds) to manage a single branch;<\/li><li>A minimum of Rs 50 crores is required as NOF (Net Owned Funds) to manage multiple branches in India;<\/li><li>The object clause in the company\u2019s Memorandum of Association must declare the intention to operate as Money Changer in India; <\/li><li>The business entity must not have any pending civil or criminal case its directors before the Department of Revenue Intelligence;<\/li><li>After acquiring FFMC Registration from RBI, the said business entity needs to start its business operation within six months from the date of registration;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Permitted_Activities_for_FFMC_Registration_from_RBI\"><\/span>Permitted Activities for FFMC\nRegistration from RBI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The permitted activities for FFMC\nRegistration from RBI are as follows:<\/p>\n\n\n\n<ol><li>An\nFFMC License Holder needs to carry out activities, such as Currency Notes,\nTravelers Cheque, and Conversion of Foreign Currency;<\/li><li>Every\nFFMC License holder needs to acquire a Franchise Agreement to carry out the\nActivities termed as Restricted by RBI;<\/li><li>An\nFFMC License Holder can freely operate in the Conversion of Foreign Currencies,\nTraveler\u2019s Cheque, with both Indian Residents and NRIs;<\/li><li>An\nFFMC License Holder can freely operate in the Indian Currency against the\nInternational Debit or Credit Card;<\/li><li>An\nentity having FFMC Registration from RBI can sell foreign currencies and coins\nagainst different forex prepaid cards, personal visits, and business\ntransactions;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_can_FFMC_Registration_from_RBI_be_Revoked\"><\/span>When can FFMC Registration from RBI\nbe Revoked?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The situations under which FFMC Registration from RBI can be revoked are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/When-can-FFMC-Registration-from-RBI-be-Revoked.png\" alt=\"FFMC Registration from RBI Revoked\" class=\"wp-image-1395\" width=\"522\" height=\"455\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/When-can-FFMC-Registration-from-RBI-be-Revoked.png 985w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/When-can-FFMC-Registration-from-RBI-be-Revoked-300x262.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/When-can-FFMC-Registration-from-RBI-be-Revoked-768x671.png 768w\" sizes=\"(max-width: 522px) 100vw, 522px\" \/><\/figure><\/div>\n\n\n\n<ol><li>For\nthe Interest and Benefit of the General Public;<\/li><li>If\nthe License Holder fails to adhere to the rules prescribed;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_for_FFMC_Registration_from_RBI\"><\/span>Documents Required for FFMC\nRegistration from RBI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The documents required for FFMC\nRegistration from RBI are as follows:<\/p>\n\n\n\n<ol><li>Certificate\nof Commencement (COC);<\/li><li>Certificate\nof Incorporation (COI);<\/li><li>A copy of Memorandum of Association\n(MOA);<\/li><li>A copy of Articles of Association\n(AOA);<\/li><li>Latest Audited Financial Statements and\nBalance Sheet;<\/li><li>A copy of certificate received from the\nStatutory Auditor regarding the Total Net Owned Fund;<\/li><li>Profit and Loss Account\nfor the last 3 financial years;<\/li><li>Confidential Report from\nBank in a Sealed Cover;<\/li><li>Details in respect of\nNature of Activities carried out;<\/li><li>A copy of the Board Resolution\npassed;<\/li><li>Details in respect of Associated\nCompanies operating in the Financial Sector;<\/li><li>A copy of Declaration regarding Policy\nFramework on the matter as follows:<\/li><li>KYC (Know Your Customer);<\/li><li>CFT (Combating the Financing of\nTerrorism Customer Data);<\/li><li>AML (Anti Money Laundering)<\/li><li>A copy of Declaration issued by the Department\nof Revenue Intelligence (DRI) concerning that it has never conducted any\ninvestigation against the directors of the company;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Process_to_Obtain_FFMC_Registration_from_RBI\"><\/span>Process\nto Obtain FFMC Registration from RBI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The steps involved in the process to obtain FFMC Registration from RBI are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/122-Converted-Swarit.png\" alt=\"FFMC Registration from RBI process\" class=\"wp-image-1402\" width=\"957\" height=\"309\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/122-Converted-Swarit.png 956w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/122-Converted-Swarit-300x97.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/122-Converted-Swarit-768x248.png 768w\" sizes=\"(max-width: 957px) 100vw, 957px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Application_for_FFMC_Registration_from_RBI\"><\/span>Application for FFMC Registration\nfrom RBI<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the first step, the directors of the applicant company require to file an application in the Annexure-II at the Regional Office of the Apex Bank. The directors must file the said application with the documents specified by RBI.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fit_Proper_Criteria\"><\/span>Fit &amp; Proper Criteria<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Further, in the next\nstep, the company needs to clear the Fit and Proper Criteria. As per this\ncriteria, the directors of the applicant company must not have any pending\ncriminal or civil against them with the Department of Revenue Intelligence.<\/p>\n\n\n\n<p>If in case the company does\nnot qualify the Fit and Proper criteria, then, in that case, it will not obtain\nFFMC Registration form RBI.<\/p>\n\n\n\n<p>Further, for meeting\nthe Fit and Proper Criteria, the Board of Directors (BOD) requires to undergo\nthe Due Diligence Process, as the same helps in determining Integrity,\nExpertise, Track Record, and Qualifications of the person being appointed as\nDirector.<\/p>\n\n\n\n<p>Also, the additional\nconditions that an applicant needs to satisfy are as follows:<\/p>\n\n\n\n<ol><li>Must not be more than 70 years in age;<\/li><li>Must not be the Member of Legislative Assembly or Council;<\/li><li>Must not be the Member of Parliament;<\/li><li>Must not have any Previous Criminal Record;<\/li><li>Must not have any sort of Sanctions from the Regulatory\nAuthorities; <\/li><li>Must not have any past history of Fraudulent Practices; <\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Clearance_from_Empowered_Committee\"><\/span>Clearance from Empowered Committee<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It shall be relevant to note that the\napplication for obtaining FFMC Registration from RBI proceeds further only if\nthe \u201cEmpowered Committee\u201d gives its clearance after all the verification.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Review_by_Apex_Bank\"><\/span>Review by Apex Bank<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Further, the RBI will review\nthe application and documents submitted, and after that, it will decide whether\nthe said company meets the fit and proper criteria or not. If the RBI gives a\npositive opinion, then, in that case, the company will get its money changer\nlicense within the period of 2 to 3 months.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Commencement_of_Business_Operations\"><\/span>Commencement of Business Operations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Once the company has received FFMC\nRegistration from RBI, it needs to commence its business operation within 6\nmonths time. Moreover, the company requires to submit the duplicate copy of the\nlicenses as follows with the RBI:<\/p>\n\n\n\n<ol><li>Possession Certificate;<\/li><li>Lease Deed;<\/li><li><strong><a href=\"https:\/\/swaritadvisors.com\/shop-establishment-license\" class=\"text-primary\">Shop and Establishment License<\/a><\/strong>;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Post_FFMC_Registration_Requirements\"><\/span>Post FFMC Registration Requirements\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The post FFMC Registration requirements are\nas follows:<\/p>\n\n\n\n<ol><li>The\ncompany needs to adhere to all the guidelines issued by RBI;<\/li><li>It\nneeds to display the copy of the FFMC License at every place of business;<\/li><li>To\ncarry out foreign trade activities in a smooth manner, the company must\nimplement the mechanism of Concurrent Audit;<\/li><li>It\nmust furnish its Annual Audited Balance Sheets at the Regional Office of the\nRBI;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell,\nif in case a company wishes to carry out the activities concerning forex in\nIndia, it needs to obtain FFMC Registration from RBI for the same. However, it\nshall be considerate to note that the process and documentation for the same is\na tough, intricate, and back breaking task as the same involves a lot of\ncompliance and procedures.<\/p>\n\n\n\n<p>Also, the\nReserve Bank of India has become stringent regarding the grant of license these\ndays. The reason behind the same is that these companies directly deals with\nthe money of the general public. As a result, every company must consult with\nRBI and FEMA experts prior to undertaking the process of\nFFMC Registration from RBI to have knowledge concerning various post\nregistration compliances that an FFMC License Holder needs to fulfill. <\/p>\n\n\n\n<p>At Swarit Advisors, we have a team of experts who have diverse knowledge in the field of RBI and FEMA and are always there to cater to all your doubts and queries.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/reasons-for-cancellation-of-ffmc-license&quot;\">Cancellation of FFMC License: Reasons for Cancellation of License<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Any company or an individual who wants to carry out forex activities, such as trading or exchange needs to first obtain FFMC Registration from RBI. Further, a Full Fledged Money Changer is governed by section 10 of FEMA 1999 and the yearly guidelines and directions issued by RBI. Also, the other name for these entities [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[57,56],"tags":[186],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1391"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=1391"}],"version-history":[{"count":12,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1391\/revisions"}],"predecessor-version":[{"id":1421,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1391\/revisions\/1421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/1392"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=1391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=1391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=1391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}