ARTICLE · 30 OCTOBER 2024

AKP Banking & Finance Digest- October 28, 2024

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The Reserve Bank of India ("RBI") has announced a ban on thirteen unauthorised forex trading platforms, intensifying its efforts to protect Indian consumers...

IndiaFinance and Banking

1. Regulatory Updates

1.1. India

1.1.1. RBI updates alert list of unauthorised forex trading platforms

The Reserve Bank of India ("RBI") has announced a ban on thirteen unauthorised forex trading platforms, intensifying its efforts to protect Indian consumers from unregulated financial activities. Among the banned platforms are Ranger Capital, TDFX, Inefex, and YorkerFX, all of which were operating without the necessary authorisation. The RBI reiterated the importance of verifying the legality of forex trading platforms, as unauthorised trading can expose consumers to financial risks. This update aligns with the RBI's proactive approach in maintaining consumer safety and regulatory compliance in the forex trading sector. RBI

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