Niyo, a fintech platform, has secured a Payment Service Provider (PSP) licence from the International Financial Services Centres Authority (IFSCA) to operate in GIFT City, Gandhinagar, Gujarat.
Niyo, a fintech platform, has secured a Payment Service Provider (PSP) licence from the International Financial Services Centres Authority (IFSCA) to operate in GIFT City, Gandhinagar, Gujarat.
Axis Bank has partnered with travel fintech Scapia to launch a co-branded credit card named “Scapia Axis Bank Credit Card”. The card is designed to cater to the requirements of digitally native and travel-focused consumers.
Wizzmoni Financial Services Limited (formerly Unimoni), an Indian Non-Banking Financial Company (NBFC), has partnered with Oman Air to launch a co-branded, AI-powered travel card named “Wizz Voyager Multi-Currency Card” that supports multiple global currencies.
Muthoot FinCorp Ltd, a Non-Banking Financial Company (NBFC), has secured a perpetual Authorised Dealer Category-II (AD-II) foreign exchange (Forex) licence from the RBI. The licence enables the NBFC to offer a wider range of regulated forex services.
Indel Remit, the foreign exchange division of Indel Money Ltd, has secured a perpetual Authorised Dealer-II (AD-II) licence from the RBI to offer trade remittance services.
Under RBI directions, the company is restricted from processing gifts, donations, and transactions exceeding ₹25 lakh.
RBI has granted Authorised Dealer Category II (AD II) licences to Niyo Forex (via Kanji Forex Pvt Ltd) and GlobalPay (WSFx Global Pay Ltd).
While Niyo Forex received a perpetual licence, GlobalPay secured an expanded perpetual licence under the updated Foreign Exchange Management Act (FEMA) 2026. It is to be noted that these licences facilitate inward and outward trade remittances up to a limit of ₹25 lakh.
The RBI has appointed Monisha Chakraborty as an Executive Director (ED), effective from August 3, 2026. In her new role, she will oversee the Foreign Exchange Department (FED) and the Financial Markets Regulation Department (FMRD).
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.