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Overseas forex trading rbi

Public Caution: RBI Issues Alert List on Overseas Forex/CFD Trading Platforms,Trending Stories

Date: Feb 21, RBI Advisory on Overseas Forex Trading through Electronic / Internet Trading Portals. The Reserve Bank of India has today clarified that remittance in any form towards overseas foreign exchange trading through electronic/internet trading portals is not permitted under the Foreign Exchange Management Act (FEMA), Web17/9/ · (ii) As and when any AD category I bank comes across any prohibited transaction undertaken by its credit card or online banking customer the bank will WebOverseas Forex trading through electronic/internet trading portals using Debit Card is not allowed by RBI As per extant RBI guidelines resident Individuals are permitted to invest Web17/11/ · RBI// A.P. (DIR Series) Circular No. November 17, To, All Authorised Dealer Category I Banks. Madam/ Sir, Overseas forex trading through Web17/9/ · (i) All AD Category I banks who offer credit cards or online banking facilities to their customers should advise their customers that any person resident in India collecting ... read more

If it is observed that the concerned AD category I bank has failed to carry out the measures as outlined above, Reserve Bank of India may proceed against the defaulting bank under section 11 3 of FEMA, and take any action as may be deemed necessary. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. The instructions contained in this circular may also be brought to the attention of the card issuing companies who may also be advised to remain alert against permitting payments for such unauthorized transactions.

Rudra Narayan Kar Chief General Manager-In-Charge. Skip to main content. Language हिंदी. Search the Website Search. Home Notifications. Resident persons undertaking forex transactions for purposes other than those permitted under the FEMA or on ETPs not authorised by the RBI shall render themselves liable for legal action under the FEMA. Here's the complete list of the 34 forex trading online platforms banned by RBI.

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Attention of the Authorised Dealer Category - I AD Category - I banks is invited to A. DIR Series Circular No. Further, AD Category-I banks were also advised to exercise due caution in respect of the accounts being opened in the name of individuals or proprietary concerns at different bank branches for collecting the margin money, investment money, etc.

in connection with such transactions. With a view to further strengthening the restrictions on such online activities which are in violation of FEMA, , AD Category I banks are hereby directed as follows:. ii As and when any AD category I bank comes across any prohibited transaction undertaken by its credit card or online banking customer the bank will immediately close the card or account of the defaulting customer and report the same to Chief General Manager-in-Charge, Forex Markets Division, Foreign Exchange Department, Reserve Bank of India, Central Office, 5th Floor, Amar Building, P.

Road, Mumbai — in the format provided in the Annex to this circular. If it is observed that the concerned AD category I bank has failed to carry out the measures as outlined above, Reserve Bank of India may proceed against the defaulting bank under section 11 3 of FEMA, and take any action as may be deemed necessary.

AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned.

The instructions contained in this circular may also be brought to the attention of the card issuing companies who may also be advised to remain alert against permitting payments for such unauthorized transactions. Rudra Narayan Kar Chief General Manager-In-Charge. Skip to main content. Language हिंदी. Search the Website Search.

Home Notifications. Yours faithfully, Rudra Narayan Kar Chief General Manager-In-Charge. All Months January February March April May June July August September October November December.

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Web17/9/ · (ii) As and when any AD category I bank comes across any prohibited transaction undertaken by its credit card or online banking customer the bank will Web23/2/ · As of writing this blog post, India’s forex reserve is around USD Million. This is a huge figure, and our country’s forex reserves have swelled up in the last 25 Webtowards overseas foreign exchange trading through electronic/internet trading portals is not permitted under the Foreign Exchange Management Act (FEMA), The Reserve Web21/2/ · This prompted RBI to take action, and the result was the introduction of the FEMA Act The Act prohibits any margin trading, including forex trading in the WebOverseas Forex trading through electronic/internet trading portals using Debit Card is not allowed by RBI As per extant RBI guidelines resident Individuals are permitted to invest Web17/11/ · RBI// A.P. (DIR Series) Circular No. November 17, To, All Authorised Dealer Category I Banks. Madam/ Sir, Overseas forex trading through ... read more

In a release, the central bank said that the 'Alert List' is not exhaustive and is based on what was known to RBI at the time of issuing the release. With a view to further strengthening the restrictions on such online activities which are in violation of FEMA, , AD Category I banks are hereby directed as follows:. All rights reserved. Authorized currency transactions may be carried out electronically, only ETPs Electronic Trading Platforms approved for this purpose by the RBI or recognised stock exchanges, such as the National Stock Exchange, Bombay Stock Exchange, and Metropolitan Stock Exchange of India. Top Trending Coronavirus in India Live Russia Ukraine War Live FIFA World Cup Live Iran Players Protest Argentina vs Saudi Arabia Gujarat Assembly Election

Attention of the Authorised Dealer Category - I AD Category - I banks is invited to A. The dollar index tracks the relative value of the U. All Months January February March April May June July August September October November December. Trending Stories In Tech, overseas forex trading rbi. Rudra Narayan Kar Chief General Manager-In-Charge.

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