New Delhi : Niyo Forex, the foreign exchange arm of Niyo (India’s leading travel fintech), has today announced that it has secured a Perpetual ADII License from the Reserve Bank of India (RBI), marking a significant regulatory milestone that provides long term continuity for its foreign exchange business. The approval reinforces the company’s commitment to India’s foreign exchange ecosystem while underscoring the strength of its compliance framework and operational standards.
The approval also enables Niyo Forex to undertake an expanded set of permitted AD-II activities, including Trade Remittances, Family Maintenance Remittances, and expand its branch network without seeking fresh RBI approvals.
The milestone comes at a pivotal time as India witnesses unprecedented growth in outbound travel, overseas education, international business, and cross border payments. India’s outbound tourism market alone is projected at ~US$ 60 Bn by 2031. With millions of Indians travelling, studying, working and transacting globally every year, demand for transparent, digital first and compliant forex solutions continues to accelerate.
Amit Talwar, CEO, Niyo Forex, said: “The grant of the perpetual forex license by the Reserve Bank of India marks an important milestone in Niyo Forex’s journey. We take this opportunity to thank the regulators for affirming their faith and trust in our organisation to operate with a long-term view in the Forex business.”
India’s outbound travel market continues to be resilient and with it, rising demand for forex solutions that are transparent, digital first, and easy to access. The enhanced scope of permitted activities under the new authorisation presents a large market opportunity for the AD II category licensed entities. Niyo Forex remains focused on leveraging technology to simplify every aspect of cross border payments while maintaining the highest standards of regulatory compliance and customer trust.”