Niyo Gets GIFT City Licence to Expand Cross-Border Financial Services

Exam-focused facts from the 10 September 2026 current affairs briefing.

Key facts

Fintech platform Niyo has secured a Payment Service Provider (PSP) licence from the International Financial Services Centres Authority (IFSCA) to operate from GIFT City.
The licence will allow Niyo to expand its cross-border financial services beyond travel forex to include international education, employment, spending and money transfers.
Niyo's GIFT City expansion follows its acquisition of Capital India Finance's forex business, which operates under the RemitX brand, increasing its branch network by more than four times.
Niyo plans to offer cross-border services through both physical branches and its app.
Sai Sankar is the chief business officer at Niyo Forex.