A Full Fledged Money Changer (FFMC) is a licenced organisation that can buy foreign currency from non-residents and residents of India and sell it to those travelling overseas for personal or business reasons. There are three sorts of full-fledged money changers (FFMCs), often known as authorised money changers:
Authorized Dealer Category – I Banks (AD Category – I Banks),
Authorized Dealer Category – II (AD Category – II),
Fully Fledged Money Changers.