Attention of the Exchange
Companies and Exchange Companies of ‘B’
Category is invited towards Para 2 (i),
Chapter 3 and Para 3 (i), Chapter 8 of Exchange
Companies Manual – 2017 which prescribe
minimum capital requirements for Exchange
Companies and Exchange Companies of ‘B’
Category respectively.
2. In this regard, it is
clarified that the minimum capital requirement
is calculated as under:
Minimum Capital Requirement
= Paid-up Capital less Accumulated Losses
3. All Exchange Companies
and Exchange Companies of ‘B’
Category shall ensure to meet their respective
minimum capital requirements at all times.
4. All other instructions
on the matter shall remain unchanged.
5. Failure to comply with
the above instructions shall attract regulatory
action under the relevant provisions of
Foreign Exchange Regulation Act, 1947.