RBI adds 13 more entities in 'alert list' of unauthorised forex trading

The RBI has added 13 more entities to its alert list of unauthorized forex trading platforms. These platforms, which operate without regulatory approval, have been flagged for offering forex trading services that violate the Foreign Exchange Management Act (FEMA). The RBI continues to caution the public against dealing with such entities, as unauthorized forex trading platforms pose significant risks to consumers. The central bank is intensifying its efforts to clamp down on illegal forex activities by regularly updating its alert list to protect the public from fraudulent schemes.