RBI issues 2026 authorised-persons rules for FX providers
FX providers must reset evidence, control and agent-delivery models under RBI's 2026 rules
Change
RBI issued the Foreign Exchange Management (Authorised Persons) Regulations, 2026, revising the authorisation, renewal and principal-agent framework for foreign exchange facilities.
Why it matters
The regulations reset the operating boundary for authorised persons providing foreign exchange facilities. FX providers must translate the revised authorisation, renewal and principal-agent framework into defensible evidence standards, internal controls, ownership structures and agent-delivery workflows instead of treating it as a policy-only update.
Implications
- — Authorised person entities providing foreign exchange facilities must define the evidence threshold for permitted activities before finalising approval or renewal controls — weak documentation standards leave transactions harder to defend under RBI, audit, compliance and partner-bank scrutiny.
- — Principal-agent foreign exchange service networks must align agent onboarding, renewal and delivery controls with the revised RBI model — branches and agents operating on earlier workflows create inconsistent delivery records and compliance evidence gaps.
- — FX compliance, treasury and operations teams must assign ownership for affected approval, renewal and agent-delivery controls before internal sign-off is finalised — unclear ownership leaves renewal files, agent records and audit evidence misaligned with the 2026 RBI framework.
Who is affected
- — Authorised person entities providing foreign exchange facilities
- — Principal-agent foreign exchange service networks
- — FX compliance, treasury and operations teams