Some of these platforms also claim to be regulated by overseas regulators and recipients of global awards, it had added. RBI has also cautioned against misleading advertisements of unauthorised ETPs (electronic trading platforms) offering forex trading facilities to Indian residents, including on social media platforms, search engines, over-the-top platforms and gaming apps. CFD is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled. “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," it added.Īccording to a 4 February Mint report, RBI had noticed that these platforms offered a derivative product called contracts for differences (CFD) during the lockdown period. it curves back on the leeward side and flows up these slopes, producing a. and Metropolitan Stock Exchange of India Ltd," it said Because trade winds in Hawaii blow persistently from the ENE direction. While permitted forex transactions can be executed electronically, they should be undertaken only on ETPs authorised for the purpose by the RBI or on recognised stock exchanges viz., National Stock Exchange of India Ltd., BSE Ltd. Outback Trading Company Grizzly Black / S 1486-BLK-SM 789043015607 Hats. ![]() ![]() “The RBI reiterates that resident persons can undertake forex transactions only with authorised persons and for permitted purposes, in terms of the FEMA. Outback Trading Company River Guide Brown / S 1497-BRN-SM 089043142465 Hats. The entities in the alert list are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platforms for forex transactions. ![]() While the regulator did not name any of these entities at that time, it received several references seeking clarification on the authorisation of these entities which has now forced RBI to come out with an alert list.
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