Niyo Forex & GlobalPay — RBI AD-II Licences

Niyo Forex and GlobalPay received perpetual/expanded Authorised Dealer Category-II (AD-II) licences from the RBI.

Key Points

• Regulator: Reserve Bank of India
• Legal framework mentioned: FEMA 2026
• Areas:
  • Cross-border payments
  • Family remittances
  • Foreign exchange
  • Non-trade transactions

GlobalPay

Expanded licence permits:

• Non-trade current-account transactions, except gifts and donations
• Inward/outward trade remittances up to ₹25 lakh
• Appointment of forex correspondent agencies

Target Users

• Individuals
• Students
• Travellers
• Exporters
• Importers
• Corporates
• Financial institutions

UPSC Focus: RBI | FEMA | Forex market | Remittances | AD categories