From The Economic Times · PTI · · 50s
Mufin Green Finance Gets RBI Licence for Forex and Remittance Services
Mufin Green Finance receives RBI AD-II licence to expand forex and remittance services.
In brief
Mufin Green Finance receives RBI AD-II licence to expand forex and remittance services. Mufin Green Finance, an NBFC, gained RBI AD-II licence to offer forex conversion and remittance services including medical and education purposes, aiming to double revenue within a year. Originally reported by The Economic Times.
RBI AD-II Licence Granted
Mufin Green Finance received RBI AD-II licence to enter forex and international remittance business.
New Services Offered
Company can now provide family maintenance remittances and smaller-ticket trade-related forex services.
Financial Impact
Q2 FY27 net profit more than doubled to Rs 15 crore from Rs 6 crore.
Revenue Strategy
Mufin expects revenue to double within a year by diversifying income streams and reducing reliance on net interest income.
“With this new vertical working alongside our lending business, we see our revenue doubling over the coming year”
The essence
Mufin Green Finance, an NBFC, gained RBI AD-II licence to offer forex conversion and remittance services including medical and education purposes, aiming to double revenue within a year.