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.