{"id":5364,"date":"2019-07-06T10:47:32","date_gmt":"2019-07-06T05:17:32","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=5364"},"modified":"2021-04-06T18:15:30","modified_gmt":"2021-04-06T12:45:30","slug":"time-required-for-obtaining-ffmc-license-in-india","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/","title":{"rendered":"Time Required for Obtaining FFMC License in India"},"content":{"rendered":"\n<p class=\"has-drop-cap\">FFMC, an acronym used for Full-Fledge Money Changer, is the third category of Authorized Dealer (AD) of AMCs (Authorized Money Changers) apart from AD- Category 1 (Banks) &amp; AD- Category 2. This license is issued to those business entities whose main purpose is to undertake all money changing activities and foreign exchanges. <\/p>\n\n\n\n<p>This is issued by Foreign Exchange Department of Reserve Bank of India after all the verification by Nomination Committee or Empowered Committee. FFMCs should send regular financial reports to the FOREX department of RBI. To know more about <a href=\"https:\/\/swaritadvisors.com\/ffmc-license\" class=\"text-primary\"><strong>FFMC license Online<\/strong><\/a> and its time requirements, let\u2019s proceed,<\/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-6a3a4a7a9b294\" 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-6a3a4a7a9b294\"  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\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FFMC_License_In_India\" title=\"FFMC License In India\">FFMC License In India<\/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\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Eligibility_to_obtain_FFMC_License_in_India\" title=\"Eligibility to obtain FFMC License in India\">Eligibility to obtain FFMC License in India<\/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\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Documents_required_for_FFMC_License_in_India\" title=\"Documents required for FFMC License in India\">Documents required for FFMC License in India<\/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\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Process_for_obtaining_FFMC_License\" title=\"Process for obtaining FFMC License\">Process for obtaining FFMC License<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Step-1_Filing_Application\" title=\"Step-1 Filing Application\">Step-1 Filing Application<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Step-2_Fit_Proper_Criteria\" title=\"Step-2 Fit &amp; Proper Criteria\">Step-2 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-7\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Step-3_Empowered_Committee_Clearance\" title=\"Step-3 Empowered Committee Clearance\">Step-3 Empowered Committee Clearance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Step-4_RBI_Decision\" title=\"Step-4 RBI Decision\">Step-4 RBI Decision<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Step-5_Submission_of_other_Licenses\" title=\"Step-5 Submission of other Licenses\">Step-5 Submission of other Licenses<\/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\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Step-6_Commencement_of_business\" title=\"Step-6 Commencement of business\">Step-6 Commencement of business<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#The_time_required_to_get_FFMC_license\" title=\"The time required to get FFMC license\">The time required to get FFMC license<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Can_FFSCs_appoint_Franchisees_for_its_operations\" title=\"Can FFSCs appoint Franchisees for its operations?\">Can FFSCs appoint Franchisees for its operations?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Features_of_Franchise_Agreement\" title=\"Features of Franchise Agreement\">Features of Franchise Agreement<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Records_should_be_maintained_by_FFMC\" title=\"Records should be maintained by FFMC\">Records should be maintained by FFMC<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FLM-1\" title=\"FLM-1\">FLM-1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FLM-2\" title=\"FLM-2\">FLM-2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FLM-3\" title=\"FLM-3\">FLM-3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FLM-4\" title=\"FLM-4\">FLM-4<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FLM-5\" title=\"FLM-5\">FLM-5<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FLM-6\" title=\"FLM-6\">FLM-6<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#FLM-7\" title=\"FLM-7\">FLM-7<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Renewal_of_FFMC_License_in_India\" title=\"Renewal of FFMC License in India\">Renewal of FFMC License in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/swaritadvisors.com\/learning\/time-required-for-obtaining-ffmc-license-in-india\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FFMC_License_In_India\"><\/span>FFMC License In India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As per the Section (10) of Foreign Exchange Management Act,\n1999, Full-Fledge Money Changer License is a License granted by Authorized\nMoney Changers whose main purpose is to offer foreign exchange services and to\ndeal with money changing activities. The FFMC helps the foreign tourists and\nvisitors to deal with currency exchange of coins, notes and cheques as per the\ndirections prescribed by RBI.<\/p>\n\n\n\n<p>No business entity shall be entitled to carry out the money-changing business without this License issued by Reserve Bank of India. If any person found doing so, then he\/she may face some legal issues as per the law.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_to_obtain_FFMC_License_in_India\"><\/span>Eligibility to obtain FFMC License in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>The company should be registered with Registrar\nof Companies (RoCs) under Companies Act, 1956 or under Companies Act, 2013.<\/li><li>The company should mention money change as the\nmain activity in its Memorandum of Association.<\/li><li>If the person wants to acquire FFMC License then\nhe\/she must conduct regular audits of the company to ensure that there will be\nno case pending with Department of revenue Intelligence &amp; Department of\nEnforcement. <\/li><li>If the person wants to run the business in the\nsingle branch then, he\/she must have Rs25 lakh as owned funds and if the\noperations will be performed in different branches then the total owned funds\nmust be Rs 50 lakh.<\/li><li>The person has to carry out the business operation\nwithin 6 months after the issuance of Foreign Exchange License and should\nprovide information to RBI.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_for_FFMC_License_in_India\"><\/span>Documents required for FFMC License in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Incorporation Certificate of the company<\/li><li>Copy of Business commencement<\/li><li>Past 3 years audit report in the form of P&amp;L\nAccount and Balance Sheet.<\/li><li>MOA &amp; AOA which state only money changing\nactivities.<\/li><li>Application form of Annexure-II by RBI circular\nwhich states all the money changing activities.<\/li><li>Certification from Statuary Auditors regarding\nthe owned funds of the company.<\/li><li>Board Resolution copy for operating as money\nchanger.<\/li><li>Report regarding the company\u2019s information,\nwhich could be sent to RBI by the Bank.<\/li><li>Declaration regarding Anti-money Laundering,\ncustomer data etc. in a proper policy framework. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Process_for_obtaining_FFMC_License\"><\/span>Process for obtaining FFMC License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step-1_Filing_Application\"><\/span>Step-1 Filing Application<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>An applicant needs to file an application in the format prescribed by the Foreign Exchange Department of RBI and submit the application along with all above-mentioned documents to the respective regional office.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step-2_Fit_Proper_Criteria\"><\/span>Step-2 Fit &amp; Proper Criteria<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Then, RBI would do inspection about the director of FFMC\n\u201cFit &amp; Proper Criteria\u201d. This criterion includes the following:<\/p>\n\n\n\n<ul><li>The director should undertake the procedure of due diligence which will determine whether he\/she is suitable as a director in terms of qualification, experience, integrity and other \u201cFit &amp; Proper Criteria\u201d or not. The Board will also consider factors regarding the criminal record of proposed director, expulsion from professional bodies, civil actions related to personal debts etc. The Board will verify all the given information of directors from Self Declaration and from market.<\/li><li>Board will undertake the process of due diligence at the time of appointment or renewal of directors.<\/li><li>After signing the Declaration form, the Nomination Committee will decide whether the information provided in the Declaration form is accurate or not. If the information will be accurate then the Nomination Committee will accept it; otherwise, if any discrepancy found, then the application will be rejected.<\/li><li>Directors of FFMCs should not be the Member of Parliament, Legislative Assembly and Legislative Council. <\/li><li>If a company wants to change the directors, then the application must be submitted to the Foreign Exchange Department of RBI.<\/li><li>The company should submit its annual report on 31 march and should mention all changes in the application information if any.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step-3_Empowered_Committee_Clearance\"><\/span>Step-3 Empowered Committee Clearance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The application for granting the FFMC License will proceed further only if the empowered committee will give the clean chit after all the verification.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step-4_RBI_Decision\"><\/span>Step-4 RBI Decision<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After all the approvals, it will all depend on the decision\nof RBI to grant the License or not.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step-5_Submission_of_other_Licenses\"><\/span>Step-5 Submission of other Licenses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After RBI grants the License, the company before commencing\nits business should submit the Shop &amp; Establishment License, Lease\nAgreement, Property Papers etc to their respective regional offices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step-6_Commencement_of_business\"><\/span>Step-6 Commencement of business<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After obtaining the FFMC License and submitting all the\nLicenses, the company should commence its business within 6 months from the\ndate of issuance of FFMC License and inform the regional office of RBI.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_time_required_to_get_FFMC_license\"><\/span>The time required to get FFMC license<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After you submit all your required documents along with the application, then it will took <strong>approximately 2-3 months <\/strong>for RBI to grant FFMC License, if there will be no re-submission of the application. The company can commence its business operations <strong>within 6 months from the date of issuance of the license<\/strong>. The duplicate copy of Lease agreement, possession certificate, Shop &amp; Establishment License etc must be submitted to RBI before the commencement of business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_FFSCs_appoint_Franchisees_for_its_operations\"><\/span>Can FFSCs appoint Franchisees for its operations?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>&nbsp;There are several money changers available in India which is categorized as AD Category-I, AD Category-II and FFMCs. These Authorized Money changers can appoint Franchisees to operate all over the country. The main motive of these Franchisees is to provide money conversion facilities to all tourists, NRI, travellers etc at different places during holidays and extended hours. AMCs can appoint Franchisees (those who will operate on the behalf of AMCs) by signing the Franchise Agreement which has some salient features. To operate as Franchise of any AMC, the Franchisee should have Rs10lakh as owned funds.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Features_of_Franchise_Agreement\"><\/span>Features of Franchise Agreement<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>The Franchisee should have a place to commence\nits business operations and have minimum owned funds of Rs10 lakhs. The main\nobjective of any franchisee should be the conversion of money or activity\nassociated with money changing.<\/li><li>The Franchisors (Authorized Dealers, FFMCs) have\nthe power to decide the time period of the agreement, the cost involved in\nopening a Franchisee, or the fees of the Franchise in the mutual agreement.<\/li><li>Franchisee while commencing their business\nshould mention the name of the Franchisor, address of the Franchisor and\nexchange rates which are followed by that parent Franchisor. Exchange rates\nwould be same or closely related with each other in every Franchise opened by\nFFMCs.<\/li><li>Franchisees have to maintain proper record of\nevery transaction, which will be sent to Franchisors. Franchisors can do\ninspections and audits of their respective Franchises at least once or twice in\na year.<\/li><li>Franchisee should surrender the foreign currency\nto its franchiser within 7 working days from the date of purchase of currency.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Records_should_be_maintained_by_FFMC\"><\/span>Records should be maintained by FFMC<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FLM-1\"><\/span>FLM-1<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>This form contains the summary and\nrecords of foreign currency notes\/coins on daily basis.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FLM-2\"><\/span>FLM-2<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>This form contains the daily basis record of cheques received by travellers. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FLM-3\"><\/span>FLM-3<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>This contains the record related\nto the purchase of foreign currencies from the public.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FLM-4\"><\/span>FLM-4<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>This form contains all the records\nrelated to the purchase of foreign currency from Authorized Money Changers.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FLM-5\"><\/span>FLM-5<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>This form contains the sale of\nforeign currency notes\/coins or cheques to the public.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FLM-6\"><\/span>FLM-6<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>This form contains all the records\nrelated to the sale of foreign currency notes, coins and cheques to Authorized\nMoney Changers, overseas banks etc.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FLM-7\"><\/span>FLM-7<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>&nbsp;&nbsp;This form contains the sale of travellers\u2019 cheques to AMCs, ADs, and FFMCs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Renewal_of_FFMC_License_in_India\"><\/span>Renewal of FFMC License in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The applicant should renew the FFMC License before a month of its expiry date. No request to restore the License shall be considered after its expiry.<\/p>\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>If you want to start as FFMC then it involves huge investment as compared with other forms of business but after you started your operations as FFMC or Franchise of FFMC, then you can enjoy several benefits and huge profits. The process and documentation for obtaining this License from <strong>RBI<sup><a class=\"text-primary\" href=\"https:\/\/m.rbi.org.in\/Scripts\/FAQView.aspx?Id=54\"><strong><em>[1]<\/em><\/strong><\/a><\/sup><\/strong> are very back-breaking, also, it requires huge documentation. To obtain the FFMC License in India without any inconvenience, contact Swarit Advisors.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/money-changer-license-from-rbi-complete-guide-on-amc-license\/\">Money Changer License from RBI: Complete Guide on AMC License\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FFMC, an acronym used for Full-Fledge Money Changer, is the third category of Authorized Dealer (AD) of AMCs (Authorized Money Changers) apart from AD- Category 1 (Banks) &amp; AD- Category 2. This license is issued to those business entities whose main purpose is to undertake all money changing activities and foreign exchanges. This is issued [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":5441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[350],"tags":[1080],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/5364"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/comments?post=5364"}],"version-history":[{"count":33,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/5364\/revisions"}],"predecessor-version":[{"id":18604,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/5364\/revisions\/18604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media\/5441"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media?parent=5364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/categories?post=5364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/tags?post=5364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}