Section 7: Money-changers .-(1) The Reserve Bank may, on an application made to it in this behalf, authorise any person to deal in foreign currency

Q: What does Section 7 of The Foreign Exchange Regulation Act, 1973 (FERA) deal with?

Section 7 FERA pertains to "Money-changers .-(1) The Reserve Bank may, on an application made to it in this behalf, authorise any person to deal in foreign currency". It is part of the The Foreign Exchange Regulation Act, 1973, a legislation enacted by the Parliament of India. Section 7 of The Foreign Exchange Regulation Act, 1973 (FERA) governs money-changers .-(1) The Reserve Bank may, on an application made to it in this behalf, authorise any person to deal in foreign currency. As verified on 22 May 2026.

Q: Is Section 7 FERA still in force?

Yes, Section 7 of the The Foreign Exchange Regulation Act, 1973 is currently in force across the Republic of India.

Q: What is धारा 7 FERA?

धारा 7 FERA is the Devanagari Hindi reference for Section 7 of the The Foreign Exchange Regulation Act, 1973. Section 7 of The Foreign Exchange Regulation Act, 1973 (FERA) governs money-changers .-(1) The Reserve Bank may, on an application made to it in this behalf, authorise any person to deal in foreign currency. As verified on 22 May 2026.

Q: What is Dhara 7 FERA?

Dhara 7 FERA is the Roman Hindi reference for Section 7 of the The Foreign Exchange Regulation Act, 1973. "Dhara" means "Section" in Hindi. Section 7 of The Foreign Exchange Regulation Act, 1973 (FERA) governs money-changers .-(1) The Reserve Bank may, on an application made to it in this behalf, authorise any person to deal in foreign currency. As verified on 22 May 2026.

Q: How to cite Section 7 of The Foreign Exchange Regulation Act, 1973?

Cite as: "Section 7, The Foreign Exchange Regulation Act, 1973 (FERA)" in legal briefs. For academic writing, use the BlueBook format: The Foreign Exchange Regulation Act, 1973, 1973, § 7 (India).

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(2)

An authorisation under this section shall be in writing and-

(3)

Any authorisation granted under sub-section (1) may be revoked by the Reserve Bank at any time if the Reserve Bank is satisfied that-

(4)

The provisions of sub-sections (4) and (5) of section 6 shall, in so far as they are applicable, apply in relation to a money-changer as they apply in relation to an authorised dealer.

Explanation.—In this section, "foreign currency " means foreign currency in the form of notes, coins or traveller's cheques and "dealing " means purchasing foreign currency in the form of notes, coins or traveller's cheques or selling foreign currency in the form of notes or coins.