Mumbai, India : EbixCash World Money Limited today became the first Authorised Dealer Category-II (AD-II) entity in India to be granted a perpetual RBI licence with an expanded scope of permitted activities — a regulatory milestone no other AD-II player in the country has achieved. The upgrade follows a landmark revision to the Foreign Exchange Management Act (FEMA) framework in May 2026, under which the Reserve Bank of India opened trade remittances of up to ₹25 lakh, and family maintenance remittances, to AD-II entities for the first time.

For an industry where trade remittance has been the exclusive preserve of banks and AD-I institutions, this is a structural shift. EbixCash World Money — already India’s largest AD-II network — is now the first non-bank entity in its category authorised to carry that flow, putting it in direct reach of the MSMEs and SMEs that banks have historically underserved.

Why This Changes the Game

India’s MSME exporters and importers have long faced a structural bottleneck: to send or receive payment for goods and services abroad, they needed a full banking relationship, often with slower turnaround and heavier documentation. EbixCash World Money’s upgrade removes that bottleneck. Backed by a licence built for permanence — not renewal cycles — and a mandate that now spans trade remittance and family maintenance, the company is positioned to become the fastest, most accessible route for cross-border MSME payments in India.

 Management Commentary

“This is the moment nearly three decades of building trust with the regulator pays off. 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. Our vision extends well beyond this licence. EbixCash World Money is  recognised as one of India’s most trusted and comprehensive payments and foreign exchange platforms — one that brings payments, remittances, travel cards, and treasury together on a single technology-driven ecosystem. That vision is aligned with where the regulator itself is heading, from RBI’s Payment Vision 2028 to the G20 Roadmap for Enhancing Cross-Border Payments. We don’t just want to participate in India’s digital payments story. We intend to help shape it.”

MSMEs have never had an accessible, non-bank channel for trade remittance. With 100+ branches in 70+ cities and a presence at 20+ international airports, we’re not waiting for demand to find us — we’re taking this capability directly to where India’s exporters and importers already are.”

— TC Guruprasad, Managing Director & CEO, EbixCash World Money Limited

“A perpetual licence isn’t handed out lightly, and an expanded activity scope on top of it is rarer still. RBI is trusting us with a wider mandate because our compliance architecture has been tested and proven, transaction after transaction, and audit after audit. Being first carries weight — every trade remittance we process under this licence will set the benchmark for how the rest of the industry is expected to operate. We intend to meet that standard, not just today but for every transaction that follows.”

— Himanshu Pramanick, Chief Compliance Officer, EbixCash World Money Limited