The integration with Clearcorp’s FX-Retail Platform allows retail users to access foreign currency, forex card reloads, and remittances digitally through select banking and payment apps.
The service, unveiled at the Global Fintech Fest 2025 in the presence of RBI Deputy Governor T Rabi Sankar, enables users to view real-time exchange rates, compare competitive pricing, and complete transactions seamlessly from mobile devices.
Customers can choose physical currency delivery, reload forex cards, or make outward remittances via participating Third Party Application Providers (TPAPs) and mobile banking apps.
Currently, the forex category is live on apps including BHIM, CRED, MobiKwik, and the retail banking apps of Federal Bank and SBI.
Users can select from six relationship banks—Axis Bank, Bank of Baroda, Federal Bank, ICICI Bank, SBI, and Yes Bank—for transaction fulfilment. The initial rollout supports the purchase of US dollars, with plans to expand to additional currencies in the future.
“This launch marks a new chapter in how Indians access foreign exchange,” said Noopur Chaturvedi, MD & CEO of NBBL.
Hare Krishna Jena, MD of CCIL, added, “The linkage of FX-Retail Platform with Bharat Connect enhances transparency and fairness in forex transactions, enabling more users to access the market efficiently.”
The service complies with the RBI’s Liberalised Remittance Scheme and eliminates lengthy registration and branch visits, streamlining access to forex for individual customers.
