Section 10 of FEMA : Section 10: Authorised Person

FEMA

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Explanation using Example

Imagine a travel agency, "GlobeTrotters," wants to start offering currency exchange services to its clients who travel abroad. To legally provide this service, they apply to the Reserve Bank of India (RBI) for authorization to become a money changer under the Foreign Exchange Management Act (FEMA), 1999.

The RBI reviews their application and grants GlobeTrotters a written authorization with specific conditions they must adhere to while conducting their foreign exchange operations.

Later on, it comes to the notice of the RBI that GlobeTrotters...

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