Paul Merchants Secures Perpetual RBI AD‑II Licence
On 8 August 2026, in Chandigarh, Paul Merchants Limited announced that the Reserve Bank of India (RBI) has granted it a perpetual licence to operate as an Authorised Dealer (AD) Category‑II under the Foreign Exchange Management (Authorised Persons) Regulations, 2026. The approval expands the company's authorised activities to include additional non‑trade current account transactions permissible under FEMA, expressly excluding gifts and donations, as well as foreign trade transactions capped at Rs 25 lakh per transaction.
The company, which has been providing foreign exchange services to Indian travellers and facilitating overseas remittances for education, medical treatment, travel, conference participation and other purposes for over three decades, now gains the ability to broaden its service portfolio across these new transaction categories. Paul Merchants operates through a network of 65 offices spread from the northern frontier of Leh to the southern port city of Kochi, serving leisure travellers, students, professionals, corporates and businesses with technology‑driven international payment solutions.
Mr Rajneesh Bansal, Managing Director of Paul Merchants Limited, stated that the RBI approval “marks an important milestone in our journey and reinforces our commitment to delivering secure, compliant and customer‑centric cross‑border financial solutions,” adding that the firm remains focused on simplifying global payments for individuals, students and businesses across India.
Paul Merchants is listed on the Bombay Stock Exchange (BSE) and continues to emphasise regulatory compliance, robust technology platforms and nationwide accessibility as core pillars of its operations.