Classification of Authorised Dealer in FEMA

Classification of Persons Authorised to deal in the foreign exchange

1. Authorised Dealer - Category - I

Commercial Banks
State Co-op Banks
Urban Co-op Banks

All current and capital account transactions according to RBI directions issued from time-to-time.

(No Change).

Authorised Dealer - Category - II

Upgraded FFMCs
Co-op. Banks
Regional Rural Banks (RRBs)

Specified non-trade related current account transactions as at paragraph 3 below as also all the activities permitted to Full Fledged Money Changers. Any other activity as decided by the Reserve Bank.

Select Financial and other Institutions Authorised Dealer - Category - III

Transactions incidental to the foreign exchange activities undertaken by these institutions. (No Change)

Full Fledged Money Changers (FFMCs)

Dept. of Posts
Urban Co-op. Banks
Other FFMCs

Purchase of foreign exchange and sale for private and business visits abroad.
(No Change)