Chennai, August 07,2026: Muthoot Fincorp Limited has been granted the Perpetual Authorised Dealer Category-II (AD-II) Forex Licence by the Reserve Bank of India (RBI), licence enables the Company to offer a comprehensive suite of regulated foreign exchange services to better serve the evolving needs of retail customers, MSMEs, SMEs, corporates, travellers, and its partner ecosystem. Backed by one of India’s largest AD-II forex networks, with across the country, Muthoot Fincorp is well-positioned to expand customer access to forex services nationwide.
The perpetual nature of the licence removes the requirement for periodic renewal, providing Muthoot Fincorp with long-term operational continuity, subject to continued compliance with RBI regulations, and reinforcing the Company’s governance and regulatory standing. It authorises a full suite of RBI-regulated forex solutions, including foreign currency exchange, multi-currency forex cards, Liberalised Remittance Scheme (LRS) remittances, family maintenance remittances, trade remittances, and forex business correspondent services as a principal agent. The licence also enables the Company to expand its authorised forex network by establishing additional branches across the country, in accordance with RBI guidelines, improving access to regulated forex services for retail customers, MSMEs, SMEs, corporates, students pursuing overseas education, business travellers, NRIs, partner institutions, and individual customers nationwide.
Commenting on the development, Mr. Shaji Varghese, Chief Executive Officer, Muthoot Fincorp Limited, said:
“The licence allows us to offer a wider portfolio of regulated forex services including trade and family maintenance remittances to retail customers, MSMEs, SMEs, corporates, travellers, and our partner ecosystem, through our nationwide network. This milestone aligns with our long-term vision of supporting India’s growing trade, travel, education, and remittance ecosystem, and we will continue to invest in technology and distribution to deliver secure, compliant, and customer-centric forex solutions that create lasting value for our customers, partners, and stakeholders.”
The approval follows a landmark revision to the Foreign Exchange Management Act (FEMA) framework in May 2026, under which the RBI expanded the scope of Authorised Dealer Category-II (AD-II) entities, permitting eligible AD-II entities to facilitate trade remittances of up to ₹25 lakh and family maintenance remittances, services traditionally reserved for banks and Authorised Dealer Category-I (AD-I) institutions. The reform marks a significant structural shift in India’s foreign exchange ecosystem, extending a segment of trade and remittance business to eligible non-bank entities for the first time.
About Muthoot Fincorp Limited
Muthoot FinCorp Limited is the flagship company of the Muthoot Pappachan Group (MPG). The company aims to transform the lives of the common man by ensuring financial well-being through a diverse range of financial products and services. With a network of 3,800+ branches across India, Muthoot FinCorp has built a strong presence in semi-urban and rural markets. Its long-standing experience, customer-centric approach, and extensive reach enable it to provide quick, convenient, and customised financial solutions to millions of customers.
About Muthoot Pappachan Group
Muthoot Pappachan Group (MPG) is a diversified business conglomerate with a nationwide presence and a portfolio of customer-centric products and services. The Group operates across Financial Services, Hospitality, Automotive, Realty, IT Services, Precious Metals, and Alternate Energy. With Muthoot FinCorp Limited as its flagship company and Bollywood icon Shah Rukh Khan as its brand ambassador, MPG has established itself as one of India’s leading diversified business groups
