Under Section 2(c) of the Foreign Exchange Management Act, 1999 (FEMA), an Authorised Person means an authorised dealer, money changer, offshore banking unit, or any other person authorised by the Reserve Bank of India (RBI) to deal in foreign exchange or foreign securities. Two key objectives of FEMA are: (i) to facilitate external trade and payments by providing a transparent legal framework for foreign exchange transactions; and (ii) to promote the orderly development and maintenance of the foreign exchange market in India, ensuring stability of the rupee and control over capital account transactions.