September 19, 2013 BY Gerald Segal

India's RBI warns banks to crack down on offshore retail forex traders

Local banks asked to close credit card or bank accounts of customers who deposit to foreign retail FX brokers. LeapRate has learned that India's central bank the Reserve Bank of India (or 'RBI') has sent a circular to banks and credit card issuers throughout the country, demanding that they crack down on Indian nationals who…

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