RBI issues Alert List of entities not authorised to deal in forex and to operate electronic trading platforms for forex transactions
On February 03, 2022, rbi had warn the public not to undertake forex transactions on unauthorised electronic trading platforms (ETPs) deposit money for unauthorised forex transactions.
The RBI put an alert list on RBI website an “Alert List” of entities which 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.
The RBI statement that resident persons can undertake forex transactions only with authorised persons and for permitted purposes, in terms of the FEMA.
Source: rbitweeter post