Exporters - India

Global Multi-currency Accounts and Payment Solutions for Indian Exporters.

In January 2025, the Reserve Bank of India (RBI) introduced new guidelines to liberalize FEMA regulations. (Press Release No. 2024-2025/1940, dated January 16, 2025, titled “Steps to Encourage the Use of Indian Rupee and Local/National Currencies for Settlement of Cross-Border Transactions – Liberalization of FEMA Regulations”). Under these new guidelines, Indian exporters can now open accounts in any foreign currency overseas to facilitate trade transactions-enabling them to receive export proceeds and use these funds for import payments.

With rising tariffs and shifting trade policies, diversifying into new regions can help safeguard revenue and ensure business continuity. SingX Multi-currency Account and Payment Solutions and help you seamlessly expand into alternative markets with ease and security.

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Common Challenges

Does your bank in India delay credits received from your buyers?

With the SingX Global Account your exports proceeds are credited instantly into a flexible multi-currency account.

Are you limited to doing business only in US Dollars? Would you prefer to do business in other currencies such as CNY, Euro, or Dirham?

With an account based in Singapore or Hong Kong you can easily collect export proceeds in 15 countries.

Do you pay high FX rates when converting your USD to INR? Or converting Euro to INR or CNY to INR?

Use the SingX, Conversion feature to easily convert from one currency to another at pre-agreed exchange rates. These rates are set up upon account opening and no manual intervention is needed henceforth.

Do you have challenges and delays with using your own export proceeds for imports?

In line with RBI regulations, you can freely use the export proceeds to fund your imports.

Are you constrained because factoring companies don’t want to lend to you? Because your buyer will not re-assign the receivable from you to the factoring company?

The SingX Payment Control Solution empowers the factoring company with direct oversight of payment flows, ensuring seamless loan repayment. Here is how it works

Named Virtual Accounts (VAs) for Borrowers – Borrowers receive named VAs, allowing buyers to continue their existing payment processes without disruption. This means that the end buyer can continue to pay the existing borrower instead of the lender.

Automated Sweep Facility – Funds deposited into the named VA are automatically transferred to the lender, minimizing the risk of misallocation.

Do you have issues in making payments to a a new trading counterparty ?

Our experienced Compliance team can assist you by doing a KYC on your buyers and suppliers.

Why Choose SingX?

Open an account in 3 easy steps

Any business, anywhere can apply. We serve companies globally, no matter where you're based.

Easy Sign-Up

Enter your business details

Dedicated Support

Our business manager will reach out to guide you.

Start in Days

Submit your documents & open your account in 1-2 business days.

About SingX

SingX is a neobank headquartered in Singapore. Established in 2014, we are licensed as a Major Payment Institution by the Monetary Authority of Singapore-enabling us to hold funds, facilitate currency conversions and process global receipts and payments with speed and efficiency. We are also licensed in Hong Kong and Australia.

Safe, Secure and Fully Regulated

Operating under stringent regulatory oversight, in three of Asia's leading financial hubs, SingX partners with top-tier banks to ensure a secure and reliable financial infrastructure. Our advanced technology platform is built for both security and ease of use-delivering a seamless user experience.