RBI introduces specific turnover thresholds for money changers The Reserve Bank of India has introduced new rules for the money changing sector, emphasizing banking principles and setting a ₹10 crore annual turnover threshold for authorized dealers. The central bank is tightening oversight by shifting responsibility to principal authorized dealers, strengthening accountability for customer protection and compliance in forex transactions.
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The Reserve Bank of India has introduced new rules for the money changing sector, emphasizing banking principles and setting a ₹10 crore annual turnover threshold for authorized dealers. The central bank is tightening oversight by shifting responsibility to principal authorized dealers, strengthening accountability for customer protection and compliance in forex transactions.
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