RBI GOVERNOR FLAGS CONCERNS OVER UNAUTHORISED FOREX TRADING PLATFORMS.
Why in the news?
RBI Governor raises concerns about unauthorised forex platforms, urges banks to enhance vigilance against illegal activities.
source:slideshare
Highlights of the Alerts and Cautioning:
- RBI Governor Shaktikanta Das addressed concerns over unauthorised forex trading platforms, urging banks to enhance vigilance against illegal activities.
- The RBI has been cautioning both banks and the public about such platforms, issuing an alert list and updating it regularly.
- Misleading advertisements and reports of frauds by unauthorised platforms led the RBI to caution the public against engaging in forex transactions with them.
What are forex transactions ?
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