The Reserve Bank of India has tightened forex rules, saying no new money changer licences will be issued, while putting in place stricter norms for dealers as well.
The RBI, under the Foreign Exchange Department, has notified new regulations named the Foreign Exchange Management (Authorised Persons) Regulations, 2026.
These regulations came into force on April 30, 2026. Under these regulations, no person or entity is allowed to act as an authorised person in foreign exchange without obtaining approval from the RBI.
The regulations are aimed at rationalising the authorisation and renewal framework for authorised persons and extending the principal-agent model for delivery of foreign exchange facilities while maintaining appropriate checks and balances.
(File Photo)
