Capital India Finance Approves Transfer of RemitX Forex Assets, Sharpens Focus on MSME Lending

Keshav Porwal, MD, Capital India Finance Limited

Mumbai (Maharashtra) [India], September 1: Capital India Finance Limited (CIFL) today announced that its Board has approved the transfer of certain assets of its Forex division, operating under the RemitX brand, to Kanji Forex Private Limited, subject to the terms and conditions of the agreement and receipt of applicable regulatory and other requisite approvals. Kanji Forex Private Limited is part of Niyo, a travel fintech platform.

The proposed transaction is part of CIFL’s strategic realignment to sharpen its focus on its core lending business, which remains the Company’s primary growth engine. Following the divestment of Capital India Home Loans Limited in FY26, the RemitX transaction represents another step in simplifying CIFL’s portfolio and concentrating resources on its lending operations.

Keshav Porwal, MD, of CIFL said: “Over the past few years, we have been steadily reshaping Capital India around businesses where we see the strongest long-term opportunity and ability to create sustainable value. This transaction is another step in that journey and will allow us to sharpen our focus on our tech enabled lending franchise. With a strong capital position, an expanding distribution network and growing momentum in lending, we believe we are well positioned to deploy our resources and management bandwidth towards scaling this business in a disciplined manner.”

Over the past six years, RemitX has built a presence across 32 locations in more than 16 states, creating an established distribution network for its Forex and cross-border services. The transaction will enable the business to build on this foundation with Niyo.

Amit Talwar, CEO of Niyo Forexsaid: “RemitX brings three things for Niyo that cannot be built quickly: a branch network that reaches customers where they live, partner relationships and a team that has been running this business together for years. Cross-border is a core business for Niyo, and we are investing in it accordingly.”

CIFL’s lending business has continued to build momentum. In Q1 FY27, the Company reported a 32% YoY increase in standalone total income to Rs 69.53 crore, while disbursements grew 36% YoY and AUM expanded approximately 20% YoY. The Company remained strongly capitalised, with a Capital Adequacy Ratio of 43.58% as of June 30, 2026.

CIFL has also strengthened its distribution network, expanding from 29 locations to 46 branches across nine states. This follows a year in which the Company’s AUM grew 22% YoY to Rs 1,227.37 crore in FY26, while disbursements increased 62% YoY to Rs 753.54 crore.

Business

StarManch Introduces a First-of-Its-Kind In-Car Karaoke Experience

Indian homegrown karaoke platform founded by Randeep Bhattacharya takes its 8,000+ song catalogue beyond smartphones and into connected mobility Kolkata (West Bengal) [India], September 1: StarManch, an Indian homegrown karaoke and social music platform, has entered the connected-mobility space through its integration with the newly launched MG Hector Tomahawk. The development takes StarManch beyond smartphones […]

Read More
Business

Director (Refineries), Indian Oil Corporation Limited Visits RGIPT; Discussions Focus on Strengthening Academia–Industry Collaboration

Amethi (Uttar Pradesh) [India], September 1: Shri Arvind Kumar, Director (Refineries), Indian Oil Corporation Limited (IOCL), visited Rajiv Gandhi Institute of Petroleum Technology (RGIPT), Jais, on 27 August 2026. During the visit, he interacted with the Director, RGIPT, Prof. Harish Hirani and faculty members, reviewed key research and training facilities, and discussed opportunities for further […]

Read More
Aditya Kathotia Amit Metaliks aparajita Business corporate communications Digital PR Employment Generation industrial development Kolkata Nico Digital Powver Limited Pr agency Purulia SM Steels steel plant Suvendu Adhikari west bengal Women Empowerment

Nico Digital Leads Communications for Amit Metaliks’ Rs 4,000-Crore Steel Project and Aparajita; Shri Suvendu Adhikari Graces the Occasion

Nico Digital Leads Strategic Communications for Amit Metaliks’ ₹4,000-Crore Steel Project and Aparajita; CM of West Bengal Shri Suvendu Adhikari Graces Foundation Stone Ceremony Kolkata (West Bengal) [India], September 1: Strategic communications and digital PR agency Nico Digital has successfully led public relations and media communications for two significant events in West Bengal: SM Steels and Powver […]

Read More