EbixCash World Money Ltd has become the first Authorised Dealer Category-II (AD-II) entity in India to receive authorization from the RBI to facilitate trade and family maintenance remittances, a domain previously dominated by banks.
The enhanced licence permits EbixCash to process trade remittances up to ₹25 lakh per transaction. Furthermore, the entity has received authorization to maintain Nostro accounts, enabling the direct settlement of international transactions without routing them through intermediary correspondent banks.