Terms & Conditions of Foreign Exchange Services
AashirwadForex.com — RBI Authorized Full Fledged Money Changer (FFMC)
Effective Date: 28 October 2014
Regulatory Status: AashirwadForex.com is operated by
[Aashirwad Forex Private Limited] holding
FFMC License No. [CHE-FFMC-0413-2023] issued by the
Reserve Bank of India (RBI) under FEMA, 1999.
1. Scope of Service & Authorization
- Service: We are authorized to undertake the purchase and sale of foreign currency strictly for RBI-permitted current account transactions (e.g., private travel, business travel, study abroad, medical treatment).
- Prohibited Transactions: Use of our services for capital account or speculative forex is strictly prohibited.
- Limits: All transactions are subject to RBI-prescribed LRS/FEMA limits.
2. Mandatory Documentation (KYC / AML)
- Identity & Address Proof: Valid Passport, PAN, Aadhaar, etc.
- Purpose Documents: Visa, air ticket, university letter, medical documents, etc.
- Declarations: Mandatory FEMA declarations confirming annual limit compliance.
3. Transaction Terms & Exchange Rate
- Exchange Rate: Final rate is the one at the moment of payment confirmation.
- Fees: Service charge/commission may apply.
- Cancellations: Subject to policy, rate differences, and administrative charges.
- Compliance Hold: Transactions may be paused/reported for FEMA/KYC violations.
4. User Obligations & Indemnity
- You confirm all documents and information are genuine and accurate.
- You indemnify AashirwadForex.com against penalties arising from regulatory violations.
- We are not liable for forex market fluctuations.
5. Grievance Redressal & Governing Law
- Law: Governed by FEMA, 1999 and RBI directives.
- Jurisdiction: Courts of [Chennai, Tamil Nadu].
-
Grievance Officer:
Name: [Sudarshan Chajed]
Email: [[email protected]]
6. Changes to Terms
Terms may be modified based on regulatory/RBI guideline updates. Updated terms will be published on this site.