RNFI Money, a wholly owned subsidiary of RNFI Services, has received RBI approval to undertake cross-border trade remittances. The licence will allow it to expand regulated foreign exchange, remittance and trade-payment services through RNFI’s existing last-mile network, alongside the parent company’s recent in-principle authorisation to operate as a Payment Aggregator–Physical (PA-P). The company said the licence has perpetual validity.
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