Mufin Green Finance received an AD-II licence from the RBI to offer forex and remittance services. This move helps the company provide support for education and medical treatments. MD Kapil Garg said, "We see our revenue doubling over the coming year." This new business vertical will help diversify their income streams.

Mufin Green Finance has recently received an AD-II licence from the RBI, permitting it to offer forex services. This new licence enables the company to provide remittance services for medical treatments, education, and family maintenance. Mufin anticipates diversifying revenue streams through these fee-based services, reducing reliance on net interest income. The company's recent financial results indicate significant growth in profit and income.

New Delhi: Mufin Green Finance has received AD-II licence from RBI, allowing the NBFC to offer forex and remittance services, including medical treatment and education.

The Authorised Dealer Category-II (AD-II) licence allows the company to offer forex conversion, outward remittances under the Liberalised Remittance Scheme (LRS) for education, medical treatment, travel and other permissible purposes.

Besides, it can now offer family maintenance remittances, and smaller-ticket trade-related forex services, Mufin Green Finance said in a statement.

The licence opens a new, capital-light business vertical for Mufin Green Finance. Unlike balance-sheet-intensive lending, forex and remittance activities earn fee and commission income, which can scale with limited incremental capital, it said.

Mufin expects this to diversify its revenue streams, reduce its reliance on net interest income, and improve

operating leverage and return ratios over time.

"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," MD Kapil Garg said.

For the second quarter ended September, 2026, the NBFC's net profit more than doubled to Rs 15 crore as against Rs 6 crore in the same quarter a year ago.

The total income for Q2 FY27 rose to Rs 90 crore from Rs 49 crore. Gross NPA improved to 1.77 per cent from 2.37 per cent a year ago, and the capital adequacy ratio stood at 27.73 per cent.

"With this new vertical working alongside our lending business, we see our revenue doubling over the coming year," Mufin added.