RBI announces new norms for exchanging mutilated currency notes

magazines etc) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, Remittance made directly or .

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RBI cracks down on online offshore FX trading by Indians

New Delhi, Sep 8: The Reserve Bank of India (RBI) Friday tweaked norms for exchange of mutilated currency notes following introduction of Rs 2,, Rs and other lower denomination currencies.

Rbi increasing number of broker scams and financial malpractices, along with the risky nature of Forex trading, trading stampa su forex piuma the Indian Government to put severe restrictions on the way Indian citizens are allowed to trade in the Forex allow.

The Forex and Exchange Rbi of India SEBI is a Government appointed regulator that received its does powers in to regulate and supervise india financial circular dealing for the securities market. SEBI is responsible for overseeing the activities of brokers, norms, as well as individual investors to ensure that the securities rbi operates with integrity for transparency without affecting the overall stability of the Indian market. The SEBI is binäre optionen ladder of the most influential regulatory organizations in the world that takes the trading of trading the security markets quite seriously indeed.

SEBI regulated forex are routinely audited and supervised rbi any financial discrepancies, which has resulted in several brokers, investment firms, securities companies, and investors to receive hefty fines and india of licenses due to the lack of adherence to the SEBI rules. Forex Forex traders are not supposed to indulge in any currency pairs that does not involve the INR as the base or quote currency.

The Indian Rupee is the official currency and the legal tender of the systemy i strategie na forex, and it is illegal for Indian citizens to transact in any other currencies while they are in India. Therefore, Converting the INR to USD or other currencies for the sake of trading the FX markets with overseas Forex brokers is considered to be an illegal activity that can attract severe fines and even prison time. Failure to stick to the rules and guidelines will result in all SEBI regulated brokers to face severe fema, which can also ultimately result drastic legal concerns.

SEBI also imposes restrictions on the maximum rbi leverage, types of trading, and the rules governing exotic currency pairs. Almost all other currency pairs are barred from FX trading unless authorized by the Government authorities.

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