Reserve Bank acts tough on forex trading via Internet

Sep 18 2013, 01:38 IST
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SummaryThe RBI has asked banks to close accounts of customers using credit or debit card for online forex trading transactions, which are prohibited.

The RBI has asked banks to close accounts of customers using credit or debit card for online forex trading transactions, which are prohibited. If it is observed that the bank has failed to carry out the measures as outlined above, RBI may proceed against the defaulting bank, it said in a notification. PTI

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