Mercury Travels has been issued an Authorised Dealer license by the Reserve Bank of India (RBI). With this move, Mercury Travels joins the elite list of banks and large forex providers, licensed to undertake a wide range of foreign exchange transactions for travel and related services.
“The Authorised Dealer license is a recognition of Mercury Travels’ focus on good Corporate Governance practices, Internal Control Systems, and implementation of Anti-Money Laundering (AML) and Know Your Customers (KYC) Policies. Growing the retail foreign exchange business and foreign remittance volumes will be a key thrust area.”, said Ashwini Kakkar, Executive Vice-Chairman, Mercury Travels.
In addition to sale and encashment of foreign exchange for business and leisure travel, the company will now issue foreign exchange to students traveling overseas for higher studies, people traveling overseas for employment, migration and medical treatment. The enhanced status also presents opportunities to undertake a wide range of foreign currency remittances for individuals and corporate customers. |