Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: TDS :: cpt :: articles on VAT and GST in India :: empanelment :: list of goods taxed at 4% :: form 3cd :: due date for vat payment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD
 
 
« Latest Circulars »
 RBI-Core Banking Solution (CBS) Requirements for Urban Co-operative Banks (UCBs)
 RBI-Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18
 Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI releases Data on India’s International Trade in Services: June 2017
 RBI-Reserve Bank Commercial Paper Directions, 2017
  RBI announces OMO Sale of Government of India Dated Securities
 Risk Management and Interbank Dealings- Reports to the Reserve Bank
  RBI announces OMO Sale of Government of India Dated Securities
 Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri S.S. Godara, JM & Manish Borad, Am Causelist For Bench 'A' 07-08-2017
 RBI directive on auditors to benefit second-tier firms
 RBI-Auction of Government of India Dated Securities August 7, 2017

RBI-Guidelines for Grant of Authorisation for Additional Branches of FFMC/AD Cat. II
September, 15th 2015

RBI/2015-16/174
A.P. (DIR Series) Circular No.12

September 10, 2015

To

All Authorised Persons

Madam/Sir,

Guidelines for Grant of Authorisation for Additional Branches of FFMC/AD Cat. II

Attention of FFMC/AD Cat. II licence holders is invited to paragraph (B) of Annex- I to A.P. (DIR Series) Circular No. 57 dated March 9, 2009 on Memorandum of Instructions governing money changing activities, wherein guidelines for grant of authorization for additional branches had been given.

2. As part of further simplification of the guidelines, it has now been decided to incorporate the changes in the guidelines in respect of submission of documents by the applicant FFMC/AD Cat. II while applying for authorization for an additional branch. The existing guidelines in respect of required documents and revised position are provided in the table below:--

Sr. No. Documents required to be submitted as per existing guidelines Revised Position
1 Copy of latest audited accounts with a certificate from Statutory Auditors regarding position of NOF as on date of application. Only a certificate from Proprietor/Partner/Director /CFO of the entity as regards the position of NOF is required to be submitted.
2 Confidential Report from applicant’s banker. This requirement shall be dispensed with.
3 Declaration to the effect that no proceedings have been initiated or are pending with DoE/DRI The declaration has to be submitted every time an application for authorisation of a new branch is made, as per existing instructions.
4 A copy of KYC/AML/CFT policy framework existing in the company Only a declaration to be submitted that there is no change in the KYC/AML/CFT policy framework since its last submission to RBI. However, in case there is a change, a copy of the revised/latest version of the policy shall be required to be submitted.
5 Brief write-up on the internal control systems, including internal and external audit. Only a declaration to be submitted to the effect that there is no change in the internal control systems including internal and external audit since submission of the last write-up to RBI. However, in case there is a change, the revised/latest write-up shall be required to be submitted.

3. The revised guidelines will come into force with immediate effect.

4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(B. P. Kanungo)
Principal Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions