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What is the story about?
EbixCash World Money said it has become the first Authorised Dealer Category-II (AD-II) entity in India to receive a perpetual Reserve Bank of India (RBI) licence with an expanded scope of permitted activities.
The upgraded authorisation allows EbixCash to undertake trade remittances of up to ₹25 lakh per transaction and process family maintenance remittances under the revised Foreign Exchange Management Act (FEMA) framework.
The development comes after the RBI widened the scope of activities permitted for AD-II entities under the revised FEMA framework introduced in May 2026. Earlier, trade-related foreign exchange transactions were largely handled through banks and AD-I entities.
Why the RBI licence upgrade matters
With the expanded mandate, EbixCash can now offer another channel for smaller businesses involved in import and export activities to make eligible overseas payments.
The move could be relevant for MSMEs that require foreign exchange services for lower-value trade transactions but may not always have access to specialised banking channels.
EbixCash said the licence upgrade strengthens its position in India's cross-border payments ecosystem by combining foreign exchange, remittance and payment services under a single platform.
"We are the first AD-II in India to be handed this licence, and we don't take that lightly — it's RBI's endorsement of everything we've built in governance, compliance, and customer protection since 1999," said TC Guruprasad, Managing Director and CEO, EbixCash World Money Limited.
Expansion beyond forex services
EbixCash World Money currently provides foreign exchange services, international remittances and prepaid travel cards. The company said the new authorisation will allow it to expand its offerings for businesses and individuals making permissible overseas payments.
The company also said it has RBI approval to maintain Nostro accounts and has partnerships with multiple banks for forex distribution.
What are AD-II entities?
AD-II entities are RBI-authorised entities allowed to undertake specified foreign exchange activities. These include services such as currency exchange, travel cards and certain remittance-related transactions.
The latest regulatory changes have expanded the role of such entities in India's cross-border payments ecosystem.
The upgraded authorisation allows EbixCash to undertake trade remittances of up to ₹25 lakh per transaction and process family maintenance remittances under the revised Foreign Exchange Management Act (FEMA) framework.
The development comes after the RBI widened the scope of activities permitted for AD-II entities under the revised FEMA framework introduced in May 2026. Earlier, trade-related foreign exchange transactions were largely handled through banks and AD-I entities.
Why the RBI licence upgrade matters
With the expanded mandate, EbixCash can now offer another channel for smaller businesses involved in import and export activities to make eligible overseas payments.
The move could be relevant for MSMEs that require foreign exchange services for lower-value trade transactions but may not always have access to specialised banking channels.
EbixCash said the licence upgrade strengthens its position in India's cross-border payments ecosystem by combining foreign exchange, remittance and payment services under a single platform.
"We are the first AD-II in India to be handed this licence, and we don't take that lightly — it's RBI's endorsement of everything we've built in governance, compliance, and customer protection since 1999," said TC Guruprasad, Managing Director and CEO, EbixCash World Money Limited.
Expansion beyond forex services
EbixCash World Money currently provides foreign exchange services, international remittances and prepaid travel cards. The company said the new authorisation will allow it to expand its offerings for businesses and individuals making permissible overseas payments.
The company also said it has RBI approval to maintain Nostro accounts and has partnerships with multiple banks for forex distribution.
What are AD-II entities?
AD-II entities are RBI-authorised entities allowed to undertake specified foreign exchange activities. These include services such as currency exchange, travel cards and certain remittance-related transactions.
The latest regulatory changes have expanded the role of such entities in India's cross-border payments ecosystem.
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