# Mufin Green Finance gets RBI AD-II licence to enter forex conversion, remittance business — retained record

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source: [news](https://highsignal.app/data/news) (news:india-cnbc-tv18)  published 2026-11-13 17:56 ingested 2026-11-14 03:04

[original source ↗](https://www.cnbctv18.com/market/stocks/mufin-green-finance-share-price-gets-rbi-ad-ii-licence-to-enter-forex-conversion-remittance-business-20033709.htm)

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Mufin Green Finance gets RBI AD-II licence to enter forex conversion, remittance business
- Published OnNov 13, 2026 | 18:48 IST
- Last Updated OnNov 13, 2026 | 23:26 IST
Mufin Green Finance secured an RBI licence to launch cross-border remittance and forex services, aiming to diversify its revenue streams and generate capital-light fee income. Backed by strong earnings, the firm plans to integrate these new offerings into its digital ecosystem.
Non-banking financial company Mufin Green Finance Ltd on Friday (November 13) has received an Authorised Dealer Category-II (AD-II) licence from the Reserve Bank of India (RBI), allowing it to enter forex conversion and cross-border remittance services.
The company will offer outward remittances under the Liberalised Remittance Scheme (LRS) for education, medical treatment, travel and other permitted purposes, along with family maintenance remittances and smaller-ticket trade-related forex services.
The services will be rolled out across India, adding a new business vertical to Mufin Green Finance's existing digital lending products, prepaid payment instruments and workforce and insurance platform partnerships.
ALSO READ | Mufin Green Finance Gets RBI AD-II Licence, Enters Forex And Remittance Business
The company said the licence will enable it to generate fee and commission income from forex and remittance activities, which require limited incremental capital compared with balance-sheet-intensive lending. It expects the business to diversify revenue streams, reduce reliance on net interest income and improve operating leverage and return ratios over time.
Mufin plans to serve students, patients and families who already use its digital ecosystem, with the aim of deepening customer engagement and adding recurring service income.
Separately, Mufin Green Finance reported an 83% year-on-year increase in total income to ₹89.58 crore in Q2 FY27, compared with ₹48.89 crore in the corresponding quarter last year. Net profit rose 149% to ₹15.06 crore from ₹6.06 crore. For the first half of FY27, net profit stood at ₹29.07 crore, against ₹10.17 crore in the year-ago period.
ALSO READ | Mufin Green Finance secures $18 million USDFC loan to power EV growth in Bharat
The company's loan book increased to ₹1,754 crore as of September 30, 2026, from ₹1,530 crore as of March 31, 2026. Gross non-performing assets (NPA) improved to 1.77% from 2.37% a year earlier, while the capital adequacy ratio stood at 27.73%.
Kapil Garg, Managing Director, Mufin Green Finance, said, "Outbound and foreign travel from India is rising steadily, and customers increasingly expect forex and remittance services to be simple, transparent and digital.
The AD-II licence lets us cater to this growing demand within a regulated framework and extend our ecosystem beyond credit into fee-based services.
With this new vertical working alongside our lending business, we see our revenue doubling over the coming year. It is a natural step in building a diversified, scalable and profitable financial services platform."
ALSO READ | Mufin Finance acquires APM Finvest for Rs 76 crore, aims to create EV financing ecosystem
Shares of Mufin Green Finance Ltd ended at ₹138.00, down by ₹2.50, or 1.78%, on the BSE.
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