Barter and exchange services provider, BBX India, is awaiting an approval from the Reserve Bank of India or RBI to commence international trading in the country. it already filed an application with RBI to this effect.
Chief Executive Officer Michael Touma said in Mumbai that the company might get the approval in the next six months. He added that the company is focusing in India, as the country is growing rapidly economy-wise, besides having a huge potential. Moreover, the barter system in India is familiar only in corporate level.
BBX is a listed company in Australia Stock Exchange and facilitates cashless business transactions. It started India operations in November last year by opening an exchange in Delhi followed by a franchisee in Kanpur.
The company recently launched a franchisee in Mumbai, and plans to open 150 franchisees in the next four months across the country.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.