RBI adds 13 more entities in 'alert list' of unauthorised forex trading

Quick Summary:

The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.

The Reserve Bank on Tuesday updated the 'Alert List' of unauthorised forex trading platforms by adding 13 more entities, including TDFX and Inefex, taking the total to 88.

RBI said the Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities/ETPs, including through advertisements of such unauthorised entities or claiming to be providing training/advisory services.

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Category: BusinessFinance

Markets: India

Topics: Alert List Unauthorised forex trading platforms RBI Forex trading

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 17:26:36 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 240 words

Reading Time: 2 minutes read

Sentences: 9 lines

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Copyright Owner: © Business Standard

News ID: 23200881

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