# Authorised Person — Section 2(c) of FEMA
## Meaning
An Authorised Person is an individual or entity authorised by the Reserve Bank of India under Section 10 of FEMA to deal in foreign exchange or foreign securities.
## Categories of Authorised Persons
| # | Category | Examples / Role |
|---|---|---|
| 1 | Authorised Dealer (AD) | Banks authorised by RBI to deal in forex — e.g., scheduled commercial banks like SBI, HDFC Bank. |
| 2 | Money Changer | Entities authorised to undertake cash purchase/sale of foreign currency — e.g., Full-Fledged Money Changers (FFMCs). |
| 3 | Off-shore Banking Unit (OBU) | A branch of an Indian bank operating in a foreign jurisdiction or SEZ that deals in forex — e.g., a branch of SBI in the US. |
| 4 | Other persons authorised u/s 10 | Any other person specifically authorised by RBI under Section 10 to deal in forex. |
## Why this Matters
Only an Authorised Person can lawfully deal in foreign exchange. Dealing in forex through any unauthorised channel (hawala etc.) is a contravention of FEMA.
## Visual
```
RBI ---authorises u/s 10---> Authorised Person
|
+----------------+-----------+-----------+
| | | |
Authorised Money Off-shore Other persons
Dealer Changer Banking Unit authorised u/s 10
(Banks) (FFMCs) (OBU)
```