CURRENT AFFAIRS : BANKING & FINANCE
Reserve Bank of India develops online application for Full-Fledged Money Changers & non-bank Authorised Dealers Category-II
- The Reserve Bank of India (RBI) has developed a software application, known as ‘APConnect’ for processing applications related to licencing of Full-Fledged Money Changers (FFMCs), non-bank Authorised Dealers (AD) Category-II, authorisation as Money Transfer Service Scheme (MTSS) Agent, renewal of existing licences/authorisations, for seeking approval and submission of various statements/returns.
