Best forex robot Capital India Finance gets forex business licence from RBI thumbnail

Best forex robot Capital India Finance gets forex business licence from RBI

Business/Investing

Best Forex (Click Here For Best Forex Techniques) robot

By: PTI|New Delhi |

September 10, 2020 3: 37: 50 pm





best forex robot rbi, rbi news, rbi updates, rbi reserve bank of india, rbi repo rate, rbi monetary policy committee The Reserve Bank of India (RBI) logo is shown on a gate outside the central bank’s local headquarters in New Delhi, India, on Monday, July 8,2019 (Photographer: T. Narayan/Bloomberg)

Capital India Financing Ltd (CIFL) on Thursday stated it has received Authorised Dealership Classification II licence from RBI for carrying out Forex (Click Here For Best Forex Techniques) business.

CIFL is the first listed NBFC in India to receive this licence and is now authorised to develop and do Forex (Click Here For Best Forex Techniques) business under the trademark name RapiMoney, the company said in a declaration.

In 2015, RBI allowed systemically essential non-deposit taking NBFCs to obtain Authorised Dealership Category-II licence from it.

This adds another feather in the cap of Capital India which is already doing domestic remittances through its fintech subsidiary RapiPay which offers fundamental banking services of money transfer and cash withdrawal through Micro ATM and Aadhaar allowed payment systems, it stated.

In Forex (Click Here For Best Forex Techniques) business, CIFL under the trademark name RapiMoney will supply outside remittances, Forex (Click Here For Best Forex Techniques) travel cards, and Forex (Click Here For Best Forex Techniques) options for trainees taking a trip to other countries for higher studies, it stated.

According to the statement, Forex (Click Here For Best Forex Techniques) market is the biggest monetary market with a daily turnover of over USD 60 billion of which outward remittance is roughly USD 15 billion prior to COVID-19 effect.

Business in Forex (Click Here For Best Forex Techniques) market has actually shown a constant boost as an effect of rise in the volume of foreign trade of the country and enhancement in the interactions systems, and is also expected to recover faster from the COVID-19 impact, it said.

CIFL focusses on offering personalized monetary options to mid corporates and SMEs for their development and working capital requirements. The non-banking finance business (NBFC) provides home loans in cost effective segment through it subsidiary Capital India Home Loans.

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