Razorpay has received a final Payment Service Provider licence from the International Financial Services Centres Authority (IFSCA), allowing the payments company to facilitate foreign-currency transfers and offer multi-currency accounts from GIFT City.
The licence enables Razorpay to move money into and out of India through GIFT City under a single regulatory framework. It follows the in-principle approval granted to the company in April 2026 and marks another step in the development of GIFT City as a hub for international financial services.
Rahul Kothari, chief operations officer at Razorpay, said the company already supports cross-border payments involving Indian consumers paying global businesses and Indian businesses collecting from customers overseas. The final licence, he said, would expand that offering by allowing the company to move money in foreign currency, hold funds in multi-currency accounts and support financial flows involving Indian residents and non-resident Indians.
Razorpay said it has built a GIFT City-based infrastructure aimed at helping Indian investment platforms offer global investing services to residents. The company’s infrastructure is integrated with RBL Bank and ICICI Bank, while additional banking partnerships are expected to be added. Key investment platforms are also expected to go live on the system, according to the company.
The approval comes as demand for overseas investment by Indian residents rises. Indian residents invested $2.65 billion in overseas stocks and debt during financial year 2025-26, a 56 per cent increase from the previous year, according to the information provided by Razorpay.
However, investment platforms currently have to coordinate with multiple banks, compliance systems and remittance partners to offer access to global equities. This fragmented structure can lengthen onboarding, complicate compliance operations and create inconsistent experiences for users. Razorpay said its infrastructure is intended to consolidate these steps through a single integration.
Under the proposed arrangement, investment platforms would be able to connect once to offer global investing services while operating within the requirements of the Foreign Exchange Management Act and GIFT City regulations. Razorpay said integrations that typically take months can be completed in two to three weeks through its system.
The licence also reflects the growing role of GIFT City in routing international financial activity through a regulated framework in India. For platforms handling overseas investments, the availability of foreign-currency transfers, multi-currency accounts and banking integrations from the international financial services centre is intended to reduce operational complexity.
Razorpay said its infrastructure is ready and that investment platforms are expected to begin going live soon. The company also said more banks would be added to the network as the service expands.
