According to the guidelines, these directions will not apply to electronic systems operated by scheduled commercial banks and standalone primary dealers for transactions in eligible instruments, where the bank or primary dealer operating the electronic system is the sole quote.
The Reserve Bank of India has updated and included names of entities or platforms or websites which appear to be promoting unauthorised entities or electronic trading platforms for forex trade
Mumbai (Maharashtra) [India], September 7 (ANI): The Reserve Bank of India (RBI) on Wednesday released a list of entities that are not authorised to deal in forex and cautioned the general public not to undertake transactions on unauthorised platforms.
Mumbai (Maharashtra) [India], February 3 (ANI): The Reserve Bank of India (RBI) on Thursday cautioned the people not to undertake forex transactions on unauthorised Electronic Trading Platforms (ETPs) saying it may lead to penal action and loss of money.