14-May-2026
Banking
 
Outward remittances: NBFCs don't need prior RBI nod for dealer tie-ups
14-May-2026

Non-bank entities facilitating outward remittances will no longer require prior approval from the Reserve Bank of India (RBI) to enter into tie-ups with authorised dealer banks, the regulator said in a revised sectoral framework published Wednesday. The framework shifts regulatory focus away from ex-ante approvals toward compliance, transparency and consumer protection obligations at regulated banks facilitating the transactions. RBI said authorised dealers must continue to comply with existing foreign exchange rules while facilitating cross-border outward remittances.

News Source:- https://economictimes.indiatimes.com/industry/banking/finance/outward-remittances-nbfcs-dont-need-prior-rbi-nod-for-dealer-tie-ups/articleshow/131076742.cms