{"id":112835,"date":"2023-02-27T14:40:02","date_gmt":"2023-02-27T09:10:02","guid":{"rendered":"https:\/\/legalwindow.in\/?p=112835"},"modified":"2023-03-03T14:12:05","modified_gmt":"2023-03-03T08:42:05","slug":"ffmc-license","status":"publish","type":"post","link":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/","title":{"rendered":"Full Fledged Money Changer (FFMC) License"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-112846 size-full\" title=\"FFMC License\" src=\"https:\/\/legalwindow.in\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License.png\" alt=\"FFMC License\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License.png 1200w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-600x315.png 600w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-300x158.png 300w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-1024x538.png 1024w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-768x403.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">A Full-Fledged Money Changer is a company that carries out business activities such as forex currency after prior approval from the Reserve Bank of India (RBI). These companies are sanctioned under the Foreign Exchange Act of 1999. The RBI permits business entities to handle foreign exchange for specific purposes. These business entities are referred to as Authorized Exchanges or AMCs.\u00a0 <\/span><span style=\"font-weight: 400;\">This topic might seem new to you but don\u2019t worry it won\u2019t be alien after going through this blog. So let&#8217;s discuss the Full Fledged Money Changer, FFMC License.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\"><b>Table of Contents<\/b><\/p>\n<ul>\n<li><a href=\"#by\"><span style=\"font-weight: 400;\">What do you mean by Full Fledged Money Changer (FFMC)?<\/span><\/a><\/li>\n<li><a href=\"#of\"><span style=\"font-weight: 400;\">Benefits of FFMC<\/span><\/a><\/li>\n<li><a href=\"#for\"><span style=\"font-weight: 400;\">Eligibility criteria for obtaining FFMC registration\u00a0<\/span><\/a><\/li>\n<li><a href=\"#activities\"><span style=\"font-weight: 400;\">Activities of FFMC\u00a0<\/span><\/a><\/li>\n<li><a href=\"#us\"><span style=\"font-weight: 400;\">Let us look at the types of FFMC License\u00a0<\/span><\/a><\/li>\n<li><a href=\"#from\"><span style=\"font-weight: 400;\">Procedure for obtaining FFMC License from RBI<\/span><\/a><\/li>\n<li><a href=\"#an\"><span style=\"font-weight: 400;\">Documents required for an FFMC<\/span><\/a><\/li>\n<li><a href=\"#post\"><span style=\"font-weight: 400;\">Post-approval requirements of FFMC License\u00a0<\/span><\/a><\/li>\n<li><a href=\"#license\"><span style=\"font-weight: 400;\">FFMC License Revocation<\/span><\/a><\/li>\n<li><a href=\"#renewal\"><span style=\"font-weight: 400;\">FFMC License Renewal<\/span><\/a><\/li>\n<li><a href=\"#final\"><span style=\"font-weight: 400;\">Final words<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"by\"><b>What do you mean by Full Fledged Money Changer (FFMC)?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Firstly it is very much crucial to know the meaning of this term. A Full Fledged Money Changer (FFMC) is an authorized entity that can purchase foreign exchange from non-residents and residents of India and sell it for private and business purposes only to people visiting abroad. As stipulated in Section 10 of the Foreign Exchange Management Act 1999, authorized money changers are the only entities in the country that can engage in foreign exchange activities and offer the necessary exchange services. To remove hurdles faced by foreign visitors and tourists, specific firms and hotels have also been offered registration to deal in foreign currency notes, coins, and traveler&#8217;s cheque as per guidelines issued frequently by the RBI.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">No individual is permitted to carry on or advertise the business of exchange unless he holds a valid exchange license issued by the RBI. Any individual operating any exchange office without a valid license may be punished by law.<\/span><\/p>\n<h2 id=\"of\"><b>Benefits of FFMC<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The benefits of Full Fledged Money Changer can be understood as follows-<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An AMC licensee can provide sales facilities and services for foreign exchange;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An FFMC licensee may offer collection certificates in the case of traveler&#8217;s cheques, foreign currency notes from non-residents and residents;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An FFMC licensee can carry out foreign exchange activities for foreign tourists visiting India;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An AMC licensee can settle trades in coins, traveler&#8217;s cheques, and foreign currency, at the prevailing exchange rate.<\/span><\/li>\n<\/ul>\n<h2 id=\"for\"><b>Eligibility criteria for obtaining FFMC registration<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As per the RBI guidelines, an applicant who wants to obtain an FFMC license must fulfill the following requirements:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The applicant should obtain company registration under the Companies Act, 2013.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Further, a minimum NOF (Net-owned Fund) of Rs. 25 lakhs is necessary for one FFMC branch, while Rs. 50 lakhs for multi-branch FFMCs is mandatory.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There should be no criminal or civil cases pending against a company or individual with the Directorate of Tax Intelligence and the Directorate of Enforcement.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The subject matter clause of the memorandum must demonstrate the business of money exchange to be carried out by the company.<\/span><\/li>\n<\/ul>\n<h2 id=\"activities\"><b>Activities of FFMC\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The activities performed by a Full Fledged Money Changer (FFMC) are as follows-<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">FFMC may, at its discretion, enter into a franchise agreement to carry on a limited money exchange business, which essentially involves the conversion of foreign currency notes, coins, or traveler&#8217;s cheques into Indian Rupees (INR).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">FFMC or its franchisees are free to purchase foreign currency notes, coins, or traveler&#8217;s cheques from both residents and non-residents of India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">FFMC may sell Indian Rupees (INR) to foreign tourists or visitors against International Debit Cards\/International Credit Cards and take prompt action to obtain reimbursement through normal banking channels.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">FFMCs may choose to sell foreign currency for the following purposes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business visits<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Private visits<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Forex Prepaid Cards<\/span><\/li>\n<\/ul>\n<h2 id=\"us\"><b>Let us look at the types of FFMC License\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Below are the types of licenses that an entity requires to operate as a full-fledged money changer (FFMC).<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Category I Banks of Authorized Dealers (Category I AD Banks)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Category II Authorized Dealers (Category II Ads)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Full-fledged money changers (FFMC)<\/span><\/li>\n<\/ul>\n<h2 id=\"from\"><b>Procedure for obtaining FFMC License from RBI<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The steps involved in the procedure for obtaining Full Fledged Money Changer License from RBI are as follows:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Application submission to the Reserve Bank of India: <\/b>In the first step of the procedure, the applicant company has to apply along with the required documents at the regional branch of Apex Bank in the prescribed format. Annexure II deals with the format prescribed by RBI.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Meet the appropriate and correct criteria: <\/b>To obtain an Authorized Money Changer License from the Reserve Bank of India, a company must meet the Fit and Proper criteria. Consequently, the Board must go through a Due Diligence process to confirm that the prescribed Fit and Proper criteria are properly met.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Further, one of the main functions of the eligibility and propriety criteria is to assist in determining the expertise, integrity, qualifications, and previous record of a person proposed for appointment as a director.<\/span><\/p>\n<h2 id=\"an\"><b>Documents required for an FFMC<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The following documents are required for a full-fledged currency exchange:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copy of company registration certificate (Certificate of Incorporation and Certificate of Commencement of Business).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A copy of the memorandum of association with a letter mentioning the provisions regarding the exchange business.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Confidential message from the bank.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A copy of the last audited balance sheet of the company together with a certificate from the statutory auditors of the net assets owned. Audited accounts for the last 3 years must also be submitted.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A statement to the effect that the company or its directors are not under investigation by DOE or DRI.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The related details on the nature of the business.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Details of the applicant&#8217;s previous FFMC\/RMC license application<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Resolution of the Board of Directors on the application for the license of Full Fledged Money Changers and the operation of the exchange office.<\/span><\/li>\n<\/ul>\n<h2 id=\"post\"><b>Post-approval requirements of FFMC License\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The requirements for registration after approval of a full-fledged exchanger are as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The directors of the applicant company must submit a duplicate certificate of ownership, trade and establishment license, and lease agreement with the Reserve Bank of India before commencing business operations;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The applicant company is required to follow all instructions, directives, and circulars issued by Apex Bank;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The licensee company must display a copy of the Money Changer license obtained at each location of its registered office;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For smooth and trouble-free execution of forex exchange activities and operations, the applicant company must implement a robust concurrent audit mechanism;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The registered company of the licensee is required to submit its annual audited balance sheet and profit and loss account for the last three years at the regional office of RBI.<\/span><\/li>\n<\/ul>\n<h2 id=\"license\"><b>FFMC License Revocation<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Reserve Bank of India may at any time cancel the FFMC license granted to a registered company if the Bank declares that-<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revoking FFMC&#8217;s license is in the public interest;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FFMC licensee has failed to comply with the rules, regulations, notices, and instructions or violated any of the provisions of the Act.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The RBI may revoke the authorization of any of the FFMC offices based on violation of any statutory or regulatory provision. The Reserve Bank may also revoke any existing license conditions of FFMC or impose new conditions.<\/span><\/li>\n<\/ul>\n<h2 id=\"renewal\"><b>FFMC License Renewal<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Application for renewal by the FFMC licensee must be made two months before the expiry of the license or such period as may be prescribed by the Reserve Bank of India.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Assume that RBI accepts the application for renewal of FFMC&#8217;s license. In such a case, the license may continue till the date of expiry of the license or if RBI rejects the application. RBI will not entertain any application for renewal of the FFMC license after the expiry of the license.<\/span><\/p>\n<h2><a href=\"https:\/\/legalwindow.in\/rbi-compliance\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-110305 size-full\" title=\"Get your RBI Compliances\" src=\"https:\/\/legalwindow.in\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1.png\" alt=\"Get your RBI Compliances\" width=\"1000\" height=\"200\" srcset=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1.png 1000w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1-600x120.png 600w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1-300x60.png 300w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1-768x154.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/h2>\n<h2 id=\"final\"><b>Final words<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Companies intending to carry out forex currency functions or currency exchange activities after obtaining a license from the <a href=\"https:\/\/www.rbi.org.in\/\" target=\"_blank\" rel=\"noopener\">Reserve Bank of India (RBI)<\/a> are called &#8220;full-fledged money changers&#8221;. Only entities other than banks can be designated as full-fledged money changers and are classified in the category of authorized dealers II, while banks are classified in the category of authorized dealers I.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Every full-fledged money changer is required to follow the Circular on Instruction Memorandum on Money Exchange Activities issued by the RBI and also the provisions of the <a href=\"https:\/\/legalwindow.in\/foreign-exchange-management-act-1999\/\" target=\"_blank\" rel=\"noopener\">Foreign Exchange Management Act, 1999<\/a>, which every FFMC licensee must follow.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For the FFMC license, RBI has created some special hurdles which make the whole process difficult. Don&#8217;t worry about the process as Legal Windows is here for all your solutions. Our consultants manually remove these obstacles to give you a way to get ahead in this affair.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Full-Fledged Money Changer is a company that carries out business activities such as forex currency after prior approval from the Reserve Bank of India (RBI). These companies&hellip;<\/p>\n","protected":false},"author":5,"featured_media":112845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-112835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-company"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FFMC License &#187; Legal Window<\/title>\n<meta name=\"description\" content=\"This article briefly describes What you mean by Full Fledged Money Changer (FFMC), &amp; the Procedure for obtaining FFMC License from RBI.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FFMC License &#187; Legal Window\" \/>\n<meta property=\"og:description\" content=\"This article briefly describes What you mean by Full Fledged Money Changer (FFMC), &amp; the Procedure for obtaining FFMC License from RBI.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/\" \/>\n<meta property=\"og:site_name\" content=\"Legal Window\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/legalwindow.in\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-27T09:10:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-03T08:42:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CS Urvashi Jain (M.COM, LLB, ACS)\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CS Urvashi Jain (M.COM, LLB, ACS)\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/\"},\"author\":{\"name\":\"CS Urvashi Jain (M.COM, LLB, ACS)\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#\\\/schema\\\/person\\\/0d15d443f6478b86969f96816ea59630\"},\"headline\":\"Full Fledged Money Changer (FFMC) License\",\"datePublished\":\"2023-02-27T09:10:02+00:00\",\"dateModified\":\"2023-03-03T08:42:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/\"},\"wordCount\":1443,\"publisher\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/wp-content\\\/uploads\\\/Full-Fledged-Money-Changer-FFMC-License-1.png\",\"articleSection\":[\"Finance Company\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/\",\"url\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/\",\"name\":\"FFMC License &#187; Legal Window\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/wp-content\\\/uploads\\\/Full-Fledged-Money-Changer-FFMC-License-1.png\",\"datePublished\":\"2023-02-27T09:10:02+00:00\",\"dateModified\":\"2023-03-03T08:42:05+00:00\",\"description\":\"This article briefly describes What you mean by Full Fledged Money Changer (FFMC), & the Procedure for obtaining FFMC License from RBI.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/wp-content\\\/uploads\\\/Full-Fledged-Money-Changer-FFMC-License-1.png\",\"contentUrl\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/wp-content\\\/uploads\\\/Full-Fledged-Money-Changer-FFMC-License-1.png\",\"width\":800,\"height\":800,\"caption\":\"FFMC License\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/ffmc-license\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Full Fledged Money Changer (FFMC) License\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/\",\"name\":\"Legal Window\",\"description\":\"Legal Solution Provider\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#organization\",\"name\":\"LegalWindow\",\"url\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/legalwindow.in\\\/blog\\\/wp-content\\\/uploads\\\/LW-Logo-2.png\",\"contentUrl\":\"https:\\\/\\\/legalwindow.in\\\/blog\\\/wp-content\\\/uploads\\\/LW-Logo-2.png\",\"width\":1245,\"height\":357,\"caption\":\"LegalWindow\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/legalwindow.in\\\/\",\"https:\\\/\\\/www.instagram.com\\\/legalwindow.in\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/legal-window\\\/\",\"https:\\\/\\\/in.pinterest.com\\\/legalwindow\\\/\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCFtHKxaXtK4WjOe9UytbX9A\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#\\\/schema\\\/person\\\/0d15d443f6478b86969f96816ea59630\",\"name\":\"CS Urvashi Jain (M.COM, LLB, ACS)\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9688428c3b5a0b2f2c22195d91411315eba4822fbe2090ed08ee91103ece9678?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9688428c3b5a0b2f2c22195d91411315eba4822fbe2090ed08ee91103ece9678?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9688428c3b5a0b2f2c22195d91411315eba4822fbe2090ed08ee91103ece9678?s=96&d=mm&r=g\",\"caption\":\"CS Urvashi Jain (M.COM, LLB, ACS)\"},\"description\":\"CS Urvashi Jain is an associate member of the Institute of Company Secretaries of India. Her expertise, inter-alia, is in regulatory approvals, licenses, registrations for any organization set up in India. She posse\u2019s good exposure to compliance management system, legal due diligence, drafting and vetting of various legal agreements. She has good command in drafting manuals, blogs, guides, interpretations and providing opinions on the different core areas of companies act, intellectual properties and taxation.\",\"sameAs\":[\"https:\\\/\\\/legalwindow.in\"],\"url\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/author\\\/csurvashijain\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FFMC License &#187; Legal Window","description":"This article briefly describes What you mean by Full Fledged Money Changer (FFMC), & the Procedure for obtaining FFMC License from RBI.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/","og_locale":"en_US","og_type":"article","og_title":"FFMC License &#187; Legal Window","og_description":"This article briefly describes What you mean by Full Fledged Money Changer (FFMC), & the Procedure for obtaining FFMC License from RBI.","og_url":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/","og_site_name":"Legal Window","article_publisher":"https:\/\/www.facebook.com\/legalwindow.in\/","article_published_time":"2023-02-27T09:10:02+00:00","article_modified_time":"2023-03-03T08:42:05+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License.png","type":"image\/png"}],"author":"CS Urvashi Jain (M.COM, LLB, ACS)","twitter_card":"summary_large_image","twitter_misc":{"Written by":"CS Urvashi Jain (M.COM, LLB, ACS)","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/#article","isPartOf":{"@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/"},"author":{"name":"CS Urvashi Jain (M.COM, LLB, ACS)","@id":"https:\/\/www.legalwindow.in\/blog\/#\/schema\/person\/0d15d443f6478b86969f96816ea59630"},"headline":"Full Fledged Money Changer (FFMC) License","datePublished":"2023-02-27T09:10:02+00:00","dateModified":"2023-03-03T08:42:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/"},"wordCount":1443,"publisher":{"@id":"https:\/\/www.legalwindow.in\/blog\/#organization"},"image":{"@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-1.png","articleSection":["Finance Company"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/","url":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/","name":"FFMC License &#187; Legal Window","isPartOf":{"@id":"https:\/\/www.legalwindow.in\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/#primaryimage"},"image":{"@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-1.png","datePublished":"2023-02-27T09:10:02+00:00","dateModified":"2023-03-03T08:42:05+00:00","description":"This article briefly describes What you mean by Full Fledged Money Changer (FFMC), & the Procedure for obtaining FFMC License from RBI.","breadcrumb":{"@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.legalwindow.in\/blog\/ffmc-license\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/#primaryimage","url":"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-1.png","contentUrl":"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Full-Fledged-Money-Changer-FFMC-License-1.png","width":800,"height":800,"caption":"FFMC License"},{"@type":"BreadcrumbList","@id":"https:\/\/www.legalwindow.in\/blog\/ffmc-license\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.legalwindow.in\/blog\/"},{"@type":"ListItem","position":2,"name":"Full Fledged Money Changer (FFMC) License"}]},{"@type":"WebSite","@id":"https:\/\/www.legalwindow.in\/blog\/#website","url":"https:\/\/www.legalwindow.in\/blog\/","name":"Legal Window","description":"Legal Solution Provider","publisher":{"@id":"https:\/\/www.legalwindow.in\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.legalwindow.in\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.legalwindow.in\/blog\/#organization","name":"LegalWindow","url":"https:\/\/www.legalwindow.in\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.legalwindow.in\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/legalwindow.in\/blog\/wp-content\/uploads\/LW-Logo-2.png","contentUrl":"https:\/\/legalwindow.in\/blog\/wp-content\/uploads\/LW-Logo-2.png","width":1245,"height":357,"caption":"LegalWindow"},"image":{"@id":"https:\/\/www.legalwindow.in\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/legalwindow.in\/","https:\/\/www.instagram.com\/legalwindow.in\/","https:\/\/www.linkedin.com\/company\/legal-window\/","https:\/\/in.pinterest.com\/legalwindow\/","https:\/\/www.youtube.com\/channel\/UCFtHKxaXtK4WjOe9UytbX9A"]},{"@type":"Person","@id":"https:\/\/www.legalwindow.in\/blog\/#\/schema\/person\/0d15d443f6478b86969f96816ea59630","name":"CS Urvashi Jain (M.COM, LLB, ACS)","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9688428c3b5a0b2f2c22195d91411315eba4822fbe2090ed08ee91103ece9678?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9688428c3b5a0b2f2c22195d91411315eba4822fbe2090ed08ee91103ece9678?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9688428c3b5a0b2f2c22195d91411315eba4822fbe2090ed08ee91103ece9678?s=96&d=mm&r=g","caption":"CS Urvashi Jain (M.COM, LLB, ACS)"},"description":"CS Urvashi Jain is an associate member of the Institute of Company Secretaries of India. Her expertise, inter-alia, is in regulatory approvals, licenses, registrations for any organization set up in India. She posse\u2019s good exposure to compliance management system, legal due diligence, drafting and vetting of various legal agreements. She has good command in drafting manuals, blogs, guides, interpretations and providing opinions on the different core areas of companies act, intellectual properties and taxation.","sameAs":["https:\/\/legalwindow.in"],"url":"https:\/\/www.legalwindow.in\/blog\/author\/csurvashijain\/"}]}},"_links":{"self":[{"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/posts\/112835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/comments?post=112835"}],"version-history":[{"count":6,"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/posts\/112835\/revisions"}],"predecessor-version":[{"id":112849,"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/posts\/112835\/revisions\/112849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/media\/112845"}],"wp:attachment":[{"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/media?parent=112835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/categories?post=112835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalwindow.in\/blog\/wp-json\/wp\/v2\/tags?post=112835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}