Categories of Authorized Persons under FEMA Act
| Category | Authorized Dealer –Category I |
Authorized Dealer Category– II |
Authorized Dealer Category – III |
Full Fledged Money Changers |
|---|---|---|---|---|
| Entities | 1.CommercialBanks 2.State Co-operative Banks 3.Urban Co-operative Banks |
1. Upgraded FFMC 2. Co-operative Banks 3. Regional Rural Banks (RRB’s), others |
1. Select Financial and other Institutions | 1. Department of Post 2.Urban Co-operative Banks 3. Other FFMC |
| Activities Permitted |
As per RBI guidelines, all current and capital account transactions | All activities permitted to FFMC and specified non-trade related current account transactions | Foreign exchange, Transactions related | Purchase of foreign exchange and sale for private and business visits abroa |