These measures include – licensing of a new category of entities as AD category-II to handle non-trade related current account transactions and licensing of select Urban Cooperative Banks and RRBs as well to operate as AD Cat-II.
In addition, the norms for the Full Fledged Money Changers have been reviewed and the ADs have been permitted to enter into franchisee arrangements for provision of money changing facilities. Further, measures have been taken to simplify procedures in respect of cross-border flows through Exchange Houses (Rupee Drawing Arrangements).