https://www.taxtmi.com/circulars?id=8597 Residents are not permitted to remit funds for overseas foreign exchange trading through electronic or internet trading portals; foreign exchange derivative contracts are allowed only to hedge permissible underlying exposures, while currency futures and options on recognised domestic stock exchanges remain permitted subject to Reserve Bank directions. Banks must be vigilant against portals soliciting margin or investment payments via domestic accounts or cards, as such collections and remittances may contravene foreign exchange rules and KYC/AML obligations. en-us Thu, 07 Apr 2011 00:00:00 +0530 Wed, 13 Apr 2011 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8597 Residents are not permitted to remit funds for overseas foreign exchange trading through electronic or internet trading portals; foreign exchange derivative contracts are allowed only to hedge permissible underlying exposures, while currency futures and options on recognised domestic stock exchanges remain permitted subject to Reserve Bank directions. Banks must be vigilant against portals soliciting margin or investment payments via domestic accounts or cards, as such collections and remittances may contravene foreign exchange rules and KYC/AML obligations. Circulars FEMA Thu, 07 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8597