Summary: Prithvi Exchange India Limited is an Indian company offering money-changing and permitted outward-remittance services under an RBI Authorised Dealer Category II licence. That status is narrower than a bank’s general foreign-exchange authority and does not authorise overseas leveraged forex, contracts for difference or speculative margin remittances. This profile identifies the legal entity, explains the documented service scope and outlines the checks a resident should complete before accepting a quote or submitting funds.
- Legal Entity and Regulatory Capacity
- Permitted Services and Resident Use Cases
- Money changing and travel money
- Outward remittance for permitted purposes
- KYC Source of Funds and Booking Process
- Rates Card Charges GST and TCS
- Settlement Cancellation Refund and Grievance Route
- Frequently Asked Questions
- What is the exact company behind Prithvi Exchange
- Does AD Category II status permit leveraged forex trading
- Can a resident remit LRS funds to meet an overseas margin call
- Is the website exchange rate the final rate
- What documents are commonly needed for an outward remittance
- Why can a returned wire produce a smaller refund
- Does paying TCS make a prohibited remittance permissible
- Key Takeaways
Legal Entity and Regulatory Capacity
The contracting entity profiled here is Prithvi Exchange India Limited, CIN L30006TN1995PLC031931, with its registered and corporate information disclosed through the company’s website and investor-relations materials. The company describes itself as an RBI Authorised Dealer Category II. Its 2026 investor disclosure records that RBI granted a perpetual AD Category II licence. The authorisation supports specified money-changing and remittance functions; it should not be read as a blanket approval for every product carrying the words forex, currency or international trading.
An AD Category II may undertake the transactions permitted by RBI directions and the conditions of its authorisation. Prithvi’s published service materials cover foreign currency notes, travel cards and permitted outward remittances for purposes such as private or business travel, education, medical treatment, emigration, employment and maintenance of close relatives. The company is not profiled here as a broker for currency derivatives, an electronic trading platform or a provider of foreign leveraged spot forex or CFDs.
| Verification point | Documented position | What it does not prove |
|---|---|---|
| Legal entity | Prithvi Exchange India Limited | A trade name alone does not identify the contracting party |
| Regulatory capacity | RBI Authorised Dealer Category II | Not a universal banking or leveraged trading licence |
| Core retail services | Currency exchange, travel card and permitted remittance facilities | Not permission to remit overseas margin or margin calls |
| Public company information | CIN and investor disclosures published by the entity | Listing or corporate registration does not replace RBI transaction rules |
Permitted Services and Resident Use Cases
Money changing and travel money
A customer may seek a quote for buying or selling eligible foreign currency notes, obtaining or reloading a supported prepaid travel card, or arranging another documented travel-money product. Availability depends on the branch or digital channel, currency inventory, KYC completion, travel purpose and regulatory limits. A displayed indicative rate should not be treated as a binding execution rate unless the provider confirms the quote, amount, fees, taxes and validity period.
Outward remittance for permitted purposes
Resident individuals may use the Liberalised Remittance Scheme for permitted current or capital account transactions within the prevailing aggregate annual limit, subject to exclusions and documentation. Prithvi’s terms refer to the USD 250,000 per financial year LRS ceiling. The customer must aggregate remittances across authorised dealers and disclose prior utilisation. Education, medical treatment, travel, maintenance of relatives, emigration and employment-related remittances can require purpose-specific evidence in addition to PAN and Form A2.
LRS does not permit remittances for trading in foreign exchange abroad, including margin or margin-call payments to overseas exchanges or counterparties. An overseas platform’s FCA, ASIC, CySEC or other foreign licence does not create Indian resident eligibility. The absence of a name from RBI’s Alert List is likewise not affirmative approval. A customer should test the purpose against RBI rules, not merely against a recipient’s marketing description.
| Service request | Typical supporting record | Key control |
|---|---|---|
| Leisure or business travel | Passport, PAN, ticket or itinerary and travel declaration | Check eligible amount and currency availability |
| Overseas education | Admission or fee demand, student and remitter KYC, bank details | Match beneficiary and institution details |
| Medical treatment abroad | Hospital estimate or medical documents and beneficiary instructions | Confirm purpose code and documentary sufficiency |
| Family maintenance | Relationship and beneficiary records | Ensure purpose and residency facts are accurately declared |
| Sale of unused foreign notes | Identity and source or travel evidence where required | Obtain receipt showing currency, rate and rupee settlement |
KYC Source of Funds and Booking Process
1. Identify Prithvi Exchange India Limited as the service provider and confirm the branch or official digital channel. Avoid payments requested through personal accounts or unofficial messaging links.
2. State the exact transaction purpose, amount, currency, destination and required date. For LRS, disclose earlier remittances in the same financial year.
3. Submit PAN, identity and address records, Form A2 and the purpose-specific documents requested under FEMA, KYC and anti-money-laundering controls.
4. Obtain a complete quote showing the exchange rate, service fee, card charge if any, GST treatment, TCS if applicable and the quote-expiry condition.
5. Pay only through the accepted channel from an eligible account. Verify beneficiary name, account number, bank identifiers, currency and intermediary-bank instructions before authorising a wire.
6. Retain the application, declaration, receipt, SWIFT or remittance reference, tax invoice, TCS evidence and cancellation or refund correspondence.
KYC completion does not guarantee acceptance. The provider may seek clarification, enhanced due diligence or source-of-funds evidence, or decline a transaction that is incomplete, prohibited or inconsistent with sanctions and anti-money-laundering controls. A customer should not split transactions, misstate a purpose or route another person’s remittance to avoid limits or documentation.
Rates Card Charges GST and TCS
Foreign-exchange cost is not only the visible service fee. It can include the spread between the provider’s buy or sell rate and a reference market rate, fixed processing charges, correspondent-bank deductions, card network charges and taxes. Prithvi’s exchange rate is quote-dependent. The customer should compare the all-in rupee amount for the specified currency and delivery result rather than assuming that an online headline rate is executable.
For the company’s Iconic travel card, the published schedule lists a card-issuance charge of ₹100, nil reload and wallet-transfer charges, a USD 2 equivalent ATM-withdrawal charge, a USD 0.50 equivalent balance-enquiry charge, a 3 percent cross-currency charge, a 2 percent markup and specified inactivity, replacement and courier charges, with taxes extra. Those figures relate to that published product schedule and may be amended; they should not be generalized to every service or card programme.
GST may apply to money-changing value and service charges under the statutory valuation rules. For LRS remittances, tax collection at source depends on the amount, purpose, source of education funding and current threshold and rate. The authorised dealer may collect TCS at execution, but the amount is generally a tax credit rather than a separate remittance-purpose entitlement. Customers should verify the current rule and ensure PAN details permit credit matching.
| Cost item | How to verify | Potential variation |
|---|---|---|
| Exchange rate or spread | Written time-stamped quote | Currency, amount, channel and market movement |
| Service fee | Invoice or tariff supplied before payment | Transaction purpose and delivery method |
| Correspondent deduction | Ask whether charges are OUR, SHA or BEN where relevant | Receiving and intermediary bank practice |
| Travel card charge | Current product schedule | ATM, cross-currency, inactivity and replacement events |
| GST and TCS | Tax invoice and TCS certificate or statement | Law, purpose, threshold and customer facts |
Settlement Cancellation Refund and Grievance Route
Cash availability, card activation and wire crediting are not identical settlement events. International wires can be delayed by cut-off times, bank holidays, compliance review, beneficiary-bank processing, incorrect details or intermediary-bank queries. The customer should ask for the expected processing window and reference number, while recognising that a provider cannot guarantee the beneficiary bank’s posting time.
Cancellation or amendment may be impossible after currency delivery, card funding or release of a wire. If a pre-release cancellation is accepted, the provider may reverse the currency at the prevailing rate and deduct documented third-party or processing costs. A returned international transfer can arrive after correspondent deductions or exchange-rate movement, so the rupee refund need not equal the original debit. The exact result must follow the accepted terms and transaction records, not an assumed full-refund rule.
For a service issue, first use the official branch or customer-service channel and quote the order or remittance reference. Escalate through the company’s published grievance or compliance contact if unresolved, preserving emails, receipts and promised timelines. Complaints involving regulated service can then be taken to the appropriate RBI complaint mechanism if eligible and after the entity-level process. Privacy concerns should be directed to the officer identified in the company’s privacy policy. Fraud or unauthorised-payment concerns should also be reported immediately to the payment bank and relevant authorities.
Frequently Asked Questions
What is the exact company behind Prithvi Exchange
The entity is Prithvi Exchange India Limited, identified by CIN L30006TN1995PLC031931 in its corporate disclosures.
Does AD Category II status permit leveraged forex trading
No. AD Category II status supports specified money-changing and remittance activities. It is not authority to offer overseas leveraged forex, CFDs or every product labelled forex.
Can a resident remit LRS funds to meet an overseas margin call
No. RBI rules do not permit LRS remittances for overseas foreign-exchange trading margin or margin calls.
Is the website exchange rate the final rate
Not necessarily. Obtain a transaction-specific quote showing its validity, fees, taxes and the exact foreign-currency delivery amount.
What documents are commonly needed for an outward remittance
PAN, identity and address records, Form A2 and purpose-specific evidence are common, but the precise list depends on the purpose, amount and compliance review.
Why can a returned wire produce a smaller refund
Correspondent deductions, provider charges and exchange-rate movement can affect the amount converted back after a returned transfer.
Does paying TCS make a prohibited remittance permissible
No. TCS is a tax-collection mechanism. The underlying remittance must independently satisfy FEMA, LRS and authorised-dealer rules.
Key Takeaways
- Prithvi Exchange India Limited is the identified legal entity and holds an RBI AD Category II authorisation for a limited service scope.
- Its documented role covers money changing, travel-money products and permitted remittances, not overseas leveraged forex or CFDs.
- Customers should verify purpose eligibility, LRS utilisation, KYC and source-of-funds records before funding a transaction.
- The all-in cost includes quote-dependent exchange rates, disclosed charges, possible correspondent deductions, GST and applicable TCS.
- Settlement and refund outcomes depend on the transaction stage and banking chain; written references and the formal grievance route matter.
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Disclaimer: This factual profile is based on official material reviewed for publication on 30 October 2026 and is not an endorsement of Prithvi Exchange India Limited or any foreign-exchange, remittance, travel-card or investment service. It is not legal, FEMA, tax, accounting, travel, payment or financial advice. RBI authorisation is limited to the category and activities permitted by law and licence conditions; it does not guarantee service quality, exchange rates, refund outcomes or the safety of a beneficiary, and it does not authorise overseas leveraged forex, contracts for difference, speculative margin payments or any product merely because it is marketed as forex. Service coverage, branch access, currency inventory, quotes, spreads, fees, card schedules, correspondent-bank deductions, KYC evidence, LRS limits, GST valuation, TCS thresholds and grievance mechanisms can change. Each customer must verify the current RBI directions, the provider’s licence and official terms, the precise remittance purpose, aggregate annual LRS usage, recipient details, source of funds, tax residence and eligibility before payment. Do not rely on a foreign regulator’s licence or absence from an alert list as proof of Indian legality. International settlement and returned funds may be delayed or reduced by compliance review, third-party charges and exchange movement. Seek advice from qualified FEMA, tax and legal professionals for the specific transaction. TaxGuru accepts no responsibility for any quote, delay, rejection, tax collection, regulatory breach, fraud, data loss, exchange-rate movement, card event, refund shortfall or other consequence arising from reliance on this article or use of the provider.
