RBI Includes 13 Additional Firms in Its List of Unauthorized Forex Trading Platforms. Banking & Finance | Dated: 05 Nov 2024 On 22nd October 2024, the Reserve Bank of India (RBI) added 13 more firms to its "alert list" of unauthorized forex trading platforms, bringing the total number of entities on the list to 88. 🎯 Key Highlights: - According to the RBI, the entities listed are neither authorized to engage in forex transactions under the Foreign Exchange Management Act, 1999 (FEMA), nor authorized to operate Electronic Trading Platforms (ETPs) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. 💡 Other Important Facts: (i) The alert list includes entities, platforms, or websites promoting unauthorized entities or ETPs, including advertisements or claims of providing training or advisory services for such unauthorized entities. However, this list is not exhaustive. (ii) The RBI further clarified that the absence of an entity from this list does not imply its authorization by the RBI. (iii) As per RBI's direction, the authorization status of any entity or ETP can be verified from the list of authorized persons and authorized ETPs. 📚 Test Your Knowledge: How many additional firms were recently added by the RBI to its list of unauthorized forex trading platforms? Correct Answer: 13 🚀 Quick Recap: About RBI CEO : Shaktikanta Das Headquarter : Mumbai