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RBI Updates Alert List: 13 Unauthorized Forex Trading Entities Added
The Reserve Bank of India (RBI) updated its Alert List on October 22, 2024, with 13 unauthorized forex trading platforms newly added including Inefex and FreshForex. This latest update brings the total number of unauthorized entities on the list to 88.
RBI’s Alert List contains names of entities that are neither authorized to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorized to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.
RBI’s Alert List newly adds 13 unauthorized entities
The Alert List also contains names of entities/platforms/websites that appear to be promoting unauthorized entities/ETPs, including through advertisements of such unauthorized entities or claiming to be providing training/advisory services.
“This list is not exhaustive. An entity not appearing in the list should not be assumed to be authorized by the RBI,” said the bank.
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