Please refer to FE Circular No. 09 dated July 30, 2002, FE Circular No. 06 dated June 07, 2004 and other related instructions issued from time to time. In order to improve compliance level and ensure rationalized expansion of Exchange Companies sector, following instructions shall be applicable with immediate effect:

i. A non-refundable application processing fee of Rs. 1,000,000/- shall be charged for forming a new Exchange Company.

ii. A non-refundable processing fee of Rs. 50,000/- per new outlet shall be charged from an Exchange Company at the time of submission of Annual Network Expansion Plan (ANEP) for in-principle approval.

iii. License renewal fee shall be charged at the rate of Rs. 500,000/- from Exchange Companies and Rs. 250,000/- from Exchange Companies of ‘B’ category at the time of submission of their request for renewal of license.

iv. A non-refundable outlet relocation fee of Rs. 25,000/- per outlet currently applicable to Exchange Companies shall also be applicable to Exchange Companies of ‘B’ category.

v. A non-refundable processing fee of Rs. 25,000/- per outlet shall be charged on account of substitution of a location of an outlet in ANEP.

2. All other instructions on the subject shall remain unchanged.