Key Details
- The Company received perpetual Authorised Dealer Category-II (AD-II) licence from the Reserve Bank of India (RBI)
- The licence was granted under RBI Notification No. FEMA 401/2026-RB, which introduces a revised regulatory framework
- The licence was received via email from RBI dated July 31, 2026
- The licence is granted in perpetuity (no expiration date)
Permissible Activities Under Licence
The renewed licence enables the Company to undertake the following activities:
- Trade remittance within prescribed regulatory limits
- Appointment of Forex Correspondent for undertaking money changing business under FCS (Forex Correspondent Scheme)
- All eligible non-trade current account transactions, including Family Maintenance (excluding Gift/Donation)
Impact and Implications
As disclosed in the annexure, the licence:
- Strengthens cross-border payments business
- Expands revenue streams under trade and non-trade current account transactions
- Improves operational continuity due to perpetual validity
- Represents a significant strategic milestone for the Company
- Enhances cross-border payment operations and forex business
- Leverages expanded market opportunities under the revised FEMA framework