....The Reserve Bank of India (RBI) has, on more than one occasion, cautioned against overseas foreign exchange trading through Internet trading portals. It first issued an advisory in February last year, and then followed up with two notifications — in April 2011 and November 2011 (see links below). The RBI has observed that “overseas foreign exchange trading has been introduced on a number of Internet/electronic trading portals luring the residents with offers of guaranteed high returns based on such forex trading”.......
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