Foreign Exchange Management Act (FEMA)

Authorized Person

An " Authorized Person" under FEMA, is a person who is authorized by Reserve Bank to deal in Foreign Exchange.

For being registered as an " Authorized Person", necessary application along with relevant documents has to be furnished to Reserve Bank.

An " Authorized Person" is also, not given a free hand to deal in foreign Exchange. He has to furnish details and information, to Reserve Bank from time to time as may be required by it.