MONEY CONTROL Eligible NBFCs to get license
CONTEXT:
- Systematically important non-deposit taking NBFCs offering foreignexchange transactions on individual accounts will be eligible to obtainAuthorised Dealer (AD) Category-II licence from it.
- AD-Cat II means entities that are authorised by the RBI to deal in foreignexchange for specified purposes.
- These include upgraded full-fledged money changers (FFMCs), and selectregional rural banks.