Razorpay gets final IFSCA licence for GIFT City as outbound investing hits $2.65 billion
The fintech can now run payment services from GIFT City, after getting in-principle approval in April 2026.
The 30-second read
- Razorpay has received the final Payment Service Provider licence from IFSCA for GIFT City, Gujarat.
- The licence also covers capital-account flows such as investing abroad, which its RBI licence does not.
- In FY26, Indian residents' investment in stocks and debt abroad reached $2.65 billion, a 56% rise year-on-year.
IllustrationRazorpay has received the final Payment Service Provider licence from IFSCA to operate in GIFT City, Gujarat. The company got in-principle approval in April 2026. IFSCA approval has two stages. The final licence, a Certificate of Authorisation, comes after conditions are met.
The licence enables global investing, international collections, settlements, multi-currency accounts and foreign currency transfers. NRI services are planned. Razorpay has integrated RBL Bank and ICICI Bank. It is targeting an integration timeline of two to three weeks, down from several months. Rahul Kothari, Chief Operations Officer at Razorpay, was first reported by CNBC-TV18 as part of the story. The company was founded in 2014 by Shashank Kumar and Harshil Mathur.
Razorpay already holds an RBI PA-CB licence from December 2025. That licence is limited to current-account trade. The IFSCA licence also covers capital-account flows. Razorpay is described as Bengaluru-based and IPO-bound. Rival Vested Finance's GIFT City entity got IFSCA PSP authorisation in July.
Demand is rising. Indian residents' overseas stocks and debt investment reached $2.65 billion in FY26, up 56% year-on-year. Separately, LRS outward remittances fell nearly 2% to $28.98 billion, first reported by Indian Startup News.
Why it matters
Indian residents investing abroad, and the platforms that serve them, get a faster route under one framework of FEMA and GIFT City rules. It comes as outbound investment keeps rising.
The data
| Item | Value |
|---|---|
| Overseas stocks and debt investment, FY26 | $2.65 billion, up 56% year-on-year |
| LRS outward remittances, FY26 | Fell nearly 2% to $28.98 billion |
| Integration time target | Two to three weeks |
