Online Overseas Forex Trading Guide
International currency dealing through online dealing portals
We wish to bring to your find the following guidelines as from the Source Financial institution of world its round old.
Online Overseas Forex Trading
1. Remittance in any type towards overseas currency dealing (including through electronic/internet dealing sites or by use of credit/debit cards) is totally banned and accordingly, the customers are informed not to remit or down payment cash or implement credit/debit credit cards for such dealings.
2. Further, any person, citizen in Indian gathering and affecting / remitting expenses straight /indirectly outside Indian in any type towards overseas currency dealing through electronic/internet dealing sites would make himself/ herself / themselves responsible to be started against with for contravention of the International Return Management Act (FEMA), 1999 besides being responsible for breach of rules with regards to Know Your Client (KYC) standards / Anti Money Washing (AML) requirements.
3. Financial institutions are required to review such banned overseas currency dealing dealings on the credit/debit credit cards to the Source Financial institution of Indian.
In view of above, the lender would be restricted to take necessary action by ending credit/ an atm cards in case of any “overseas currency trading trading” dealings noticed on your cards account and review the same to the regulator. Hence, you are asked for to keep from doing such dealings on your credit/debit cards.
If you have not done any such transaction/s, you may neglect the email.
Thank you for your ongoing patronage of HDFC Financial institution.
* Online Overseas Forex Trading