Coin or chillar Exchange
4 years ago
Excess coins is the big issue,
To resolve that issue , we wish to build coin exchange app . Is this legal or need RBI or government approval ? We wants just to connect two needs one who has excess and one who needs coin. User can post it by app.
A.Dear Sir,
It is better to send a representation to the concerned RBI branch seeking permission if no reply is received then you can proceed with your proposed business.
Please take PAID phone call with me through VIDHIKARYA and get more legal guidance.
It is better to send a representation to the concerned RBI branch seeking permission if no reply is received then you can proceed with your proposed business.
Please take PAID phone call with me through VIDHIKARYA and get more legal guidance.
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A.This question does not have simple answer as any business having transaction of notes or coins the RBI would like to govern it. What would be better for you is to write a letter to the RBI and get their approval or instructions on it.
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