Classification of Persons Authorised to deal in the foreign exchange
1. Authorised Dealer - Category - I
State Co-op Banks
Urban Co-op Banks
All current and capital account transactions according to RBI directions issued from time-to-time.
Authorised Dealer - Category - II
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
Purchase of foreign exchange and sale for private and business visits abroad.