New Delhi, May 7 -- The Reserve Bank of India has issued the Foreign Exchange Management (Authorised Persons) Regulations, 2026, introducing revised norms for entities dealing in foreign exchange and discontinuing fresh licences for Full-Fledged Money Changers (FFMCs).
The new regulations aim to rationalise the authorisation and renewal framework for authorised persons while expanding the principal-agent model for foreign exchange services with appropriate safeguards in place.
The central bank said the revised framework was finalised after incorporating stakeholder feedback received on the draft norms released in December 2023.
Three-Tier Authorisation Structure Introduced
Under the new regulations, all entities undertaking foreign...