RNFI Money Gets RBI Nod for Cross-Border Trade Remittances

Why in the news

RBI gave a fintech subsidiary the go-ahead to handle cross-border trade payments, adding to its parent’s earlier authorisation.

Key facts

• Entity: RNFI Money Private Limited, subsidiary of RNFI Services.
• Permission: cross-border trade remittances.
• Services: regulated forex, remittances and trade payments through a last-mile network.
• Validity: perpetual, with no expiry date.

Link to the parent

• Earlier, RBI gave RNFI Services in-principle authorisation to run as a PA-P (physical payment aggregator).

Exam angle

• Approval type: cross-border trade remittances.
• Duration of validity: perpetual.
• Parent company: RNFI Services.