Capital India Finance has successfully obtained renewal of its money transfer service license from the Reserve Bank of India (RBI), securing regulatory approval to operate until January 31, 2028. This development ensures the continued operation of the company's cross-border money transfer services through its RemitX platform.

License Renewal Details

The RBI license renewal represents a crucial regulatory milestone for Capital India Finance's financial services operations. The approval extends the company's authorization to provide money transfer services for a period extending until January 31, 2028, providing operational certainty for the next four years.

RemitX Platform Operations

The license renewal specifically enables Capital India Finance's RemitX platform to continue facilitating inward cross-border money transfers. This service operates through a strategic partnership with Western Union, one of the world's leading money transfer networks. The RemitX platform serves as the company's digital infrastructure for processing international money transfer transactions.

Partnership with Western Union

The regulatory approval ensures continuity of Capital India Finance's collaboration with Western Union for cross-border money transfer services. This partnership allows the company to leverage Western Union's extensive global network while maintaining compliance with Indian regulatory requirements. The association enables customers to receive money transfers from international locations through the RemitX platform.

Regulatory Compliance

The RBI license renewal demonstrates Capital India Finance's adherence to regulatory standards and compliance requirements for money transfer services in India. The approval process involves stringent evaluation of operational capabilities, financial stability, and regulatory compliance measures. This regulatory endorsement validates the company's operational framework and risk management systems for handling cross-border financial transactions.

Capital India Finance Limited announced significant board decisions on December 30, 2025, including a key appointment and authorization for member voting on executive leadership changes. The board resolutions were passed by circulation at 01:36 P.M. in compliance with SEBI listing regulations.

Key Appointment: Head-Risk & Policy

The board approved the appointment of Mr. Mohit Sirpurkar as Head-Risk & Policy, effective December 30, 2025. The appointment details are outlined below:

Mr. Sirpurkar brings extensive industry experience in risk management and credit policy development, with particular expertise in secured lending and rural finance sectors. His appointment strengthens the company's risk management capabilities and policy framework.

Postal Ballot Authorization for Executive Vice Chairman

The board authorized seeking member consent through postal ballot for appointing Mr. Surender Rana (DIN: 10315624) as Whole-time Director, designated as Executive Vice Chairman. The company will conduct this process through remote e-voting to ensure member participation.

Remote E-Voting Schedule

KFin Technologies Limited has been appointed as the Registrar and Transfer Agent to facilitate the remote e-voting process:

Members whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date will be eligible to vote on the proposed resolution.

Regulatory Compliance

The announcements were made in compliance with Regulation 30, 51, and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company will submit the Notice of Postal Ballot with requisite details to stock exchanges and distribute it to members in due course.

These strategic appointments and governance processes reflect Capital India Finance Limited's commitment to strengthening its leadership team and maintaining transparent corporate governance practices.