Skip to content Skip to sidebar Skip to footer

‘Unauthorised FX platforms: Need enhanced vigilance by banks’ | Business News

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday raised concerns over unauthorised forex trading platforms and asked banks to maintain vigil against such illegal activities.

“We continue to see banking channels being used by certain persons or entities to fund activities on unauthorised FX (forex) trading platforms. This warrants enhanced vigilance by the banks,” Das said in his address at the FIMMDA (The Fixed Income Money Market and Derivatives Association of India)-PDAI (Primary Dealers Association of India) annual conference, Barcelona.

The regulator has been cautioning banks and the public against such forex trading platforms.

In 2018, the RBI announced a framework for authorisation of electronic trading platforms (ETPs) for financial market instruments regulated by it. Electronic Trading Platform (ETP) are electronic system, other than a recognised stock…

Read the full article…