Key Points:
- The approval comes through a perpetual Authorised Dealer Category-II (AD-II) licence, expanding Indel Remit’s foreign-exchange and cross-border payment capabilities.
- Company: Indel Remit is the foreign exchange division of Indel Money Limited.
- Approval Date: The RBI approval was announced on 6 August 2026.
- Regulator: The approval was granted by the Reserve Bank of India.
- Type of Licence: Indel Remit operates under an Authorised Dealer Category-II or AD-II licence issued by RBI. The latest approval is described as a perpetual licence, strengthening the company’s ability to offer foreign-exchange services.
- New Facility: The approval allows Indel Remit to facilitate foreign trade-related remittances of up to ₹25 lakh per transaction.
- Current Account Transactions: The expanded licence also permits Indel Remit to undertake eligible non-trade current-account transactions, subject to RBI and FEMA rules. Certain transactions, including gifts and donations, are excluded from the expanded scope reported by the company.
- Target Customers: The service is expected to benefit MSMEs, traders and businesses requiring cross-border payments for legitimate international trade transactions.
- Existing Services: Indel Remit already provides foreign-exchange and cross-border payment solutions, including eligible inward and outward remittances.
- Purpose: The approval is aimed at making international business payments more accessible, efficient and transparent, while ensuring compliance with RBI and foreign-exchange regulations.
- Significance: The licence expands Indel Remit from primarily retail and non-trade forex services into trade-related cross-border remittances, strengthening its position in India’s foreign-exchange services market.
Question:
Q1.Indel Remit, which received RBI approval in August 2026 to offer trade remittance services, is the foreign exchange division of which company?a) Muthoot Finance Limited
b) Indel Money Limited
c) Manappuram Finance Limited
d) Thomas Cook India Limited
Answer b). Indel Remit is the foreign exchange division of Indel Money Limited. In August 2026, it received RBI approval under its Authorised Dealer Category-II framework to expand into trade remittance services, including eligible foreign trade transactions of up to ₹25 lakh per transaction.
