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Recent Current Affairs related to Forex

8 News
11 August 2026 BANKING

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.

30 July 2026 BANKING

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.

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