Current Affairs - Finance - Discussion

EbixCash World Money became the first non-bank entity in India to receive a perpetual Authorised Dealer Category-II (AD Category-II) license from the Reserve Bank of India (RBI). This license enables the company to provide cross-border trade-related remittance services in addition to family remittances under the regulatory framework of the Foreign Exchange Management Act (FEMA), 1999. The approval is expected to benefit Micro, Small, and Medium Enterprises (MSMEs) by allowing them to make outward trade remittances directly without depending on traditional commercial banks. The milestone reflects the RBI's regulated approach to expanding foreign exchange services while maintaining compliance and financial stability.