RBI warns against forex trading sites2 min read . Updated: 04 Feb 2022, 12:20 AM IST
The RBI said people undertaking transactions for purposes other than those permitted under the Foreign Exchange Management Act (FEMA) or on electronic trading platforms (ETPs) not authorized by the RBI can face penal action under the Foreign Exchange Act
MUMBAI : The Reserve Bank of India (RBI) on Thursday warned people against trading forex on unauthorized platforms following growing reports of people falling prey to such entities.
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