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Full Fledge Money Changer License

What are the obligations of an FFMC License holder under FEMA (Foreign Exchange Management Act)?

The obligations of an FFMC License holder under the Foreign Exchange Management Act (FEMA) include:   1. Compliance with RBI Guidelines: Follow all rules and regulations issued by the Reserve Bank of India (RBI) for foreign exchange transactions.    2. KYC/AML Procedures: Implement Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to verify customers’ identities and prevent illegal activities.   3. Maintain Transaction Records: Keep proper records


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