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Guidelines for Grant of Authorisation for Additional Branches of FFMC/AD Cat. II

FEMA - 12 - Dated:- 10-9-2015 - RBI/2015-16/174 A.P. (DIR Series) Circular No.12 September 10, 2015 To All Authorised Persons Madam/Sir, Attention of FFMC/AD Cat. II licence holders is invited to paragraph (B) of Annex- I to A.P. (DIR Series) Circular No. 57 dated March 9, 2009 on Memorandum of Instructions governing money changing activities, wherein guidelines for grant of authorization for additional branches had been given. 2. As part of further simplification of the guidelines, it has now b .....

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of application. Only a certificate from Proprietor/Partner/Director /CFO of the entity as regards the position of NOF is required to be submitted. 2 Confidential Report from applicant s banker. This requirement shall be dispensed with. 3 Declaration to the effect that no proceedings have been initiated or are pending with DoE/DRI The declaration has to be submitted every time an application for authorisation of a new branch is made, as per existing instructions. 4 A copy of KYC/AML/CFT policy fr .....

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