I am attaching a RBI guideline on FX. Read 3.1.a and Schedule 1 k) and one tends to think that FX trading by resident Indians is allowed by RBI but in a Capital Transaction Account. I understand from CTA means, an account like Current account, where the money doesnt get any interest from bank.
Combined with the Liberalised Scheeme of USD 200000 /year with this document, one can safely assume fx trade to be legal. Other opinions are welcome.
Combined with the Liberalised Scheeme of USD 200000 /year with this document, one can safely assume fx trade to be legal. Other opinions are welcome.