The (RBI) has recently updated its ‘Alert List’ to caution the public about unauthorised forex trading platforms. The list, which initially contained 34 entities, has now been expanded to include eight additional names, bringing the total to 56.
This move highlights the RBI’s commitment to protecting residents from fraudulent activities related to forex trading. The central bank has emphasized the need for individuals to verify the authorization status of any entity or Electronic Trading Platform (ETP) before engaging in forex transactions.