EbixCash World Money has become the first non-bank company in India to receive a perpetual Authorised Dealer Category-II (AD-II) licence from the RBI.
The licence allows the company to process trade remittances of up to ₹25 lakh per transaction, facilitate family maintenance transfers and hold Nostro accounts for direct international settlements without correspondent banks.
The approval follows recent FEMA reforms that expanded the scope of AD-II entities.
EbixCash Makes History as First Non-Bank to Secure RBI's Perpetual AD-II Licence
EbixCash World Money has become the first non-bank entity in India to receive a perpetual Authorised Dealer Category-II (AD-II) licence from the Reserve Bank of India, expanding its cross-border remittance and trade payment capabilities
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Summary
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EbixCash World Money Ltd announced on 21 July 2026 that it received a perpetual Authorised Dealer Category-II (AD-II) licence from the Reserve Bank of India.
The move makes the firm the first non-bank entity in India to secure this perpetual approval, breaking a segment previously dominated by banks.
The licence permits the company to process trade remittances of up to Rs 25 lakh per transaction, alongside family maintenance transfers.
This development follows modifications to the Foreign Exchange Management Act (FEMA) framework introduced in May 2026. The revised guidelines enabled AD-II entities to execute these current account transactions for the first time.
Direct Settlement for MSMEs
The RBI approved EbixCash to hold Nostro accounts, enabling direct settlement of international transactions without relying on correspondent banks.
The direct service targets micro, small and medium enterprises engaged in exports and imports. It reduces their dependence on traditional banking channels for cross-border payments.
Managing Director TC Guruprasad called the licence a "milestone" reflecting "nearly three decades of regulatory compliance".
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The company will expand services to importers and exporters through a network spanning more than 100 branches across over 70 cities and counters at more than 20 international airports.
Market Leadership and Compliance
EbixCash handles a major share of the market. The company processes upwards of 75 per cent of the country's cash-to-cash inward transfers, along with roughly 20 per cent of outward transfers via the AD-II route under the Liberalised Remittance Scheme, it stated.
Chief Compliance Officer Himanshu Pramanick said the perpetual licence "underscores confidence in the company's compliance and governance standards". The firm operates through more than 25,000 touchpoints and supplies foreign currency to over 40 partner banks.
The company began as a Full Fledged Money Changer in 1999. It upgraded to AD-II status in 2008. EbixCash was the first Indian authorised dealer to facilitate instant international transfers to the UK via the Faster Payments Service and to European nations using SEPA Instant.
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