Divya Agarwal
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.
