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RBI Alert List of Unauthorised Forex Platforms Reaches 95

20 November 20251 min read
BANKING & FINANCERBI Alert List ofUnauthorisedForex PlatformsReaches 9520 November 2025safalsetu.com

Why in the news

RBI expanded its public warning list of forex platforms operating without permission.

Key facts

  • Total: 95 entities on the Alert List.
  • New names include: Starnet FX, CapPlace, Mirrox, Trive, NXG Markets and Nord FX.
  • Status: not authorised under FEMA, 1999 or allowed to run ETPs for forex.

Forex platforms and ETPs

  • Forex platforms let users buy, sell and manage currencies, for pairs like USD/INR, with live prices and charts.
  • ETPs trade instruments electronically with no physical floor: forex, equities, commodities, derivatives and G-secs.

FEMA, 1999

Facilitates external trade and payments and orderly forex market development; RBI regulates it under Central Government oversight.

Exam angle

  • Law: FEMA, 1999 (replaced FERA, 1973); regulator RBI.
  • Terms: Alert List, ETP.

Test yourself

1. After the latest additions, how many unauthorised forex entities are on RBI's Alert List?

The total rose to 95.

2. Entities on RBI's forex Alert List are not authorised under which Act?

They lack authorisation under FEMA, 1999.

3. Which law did FEMA, 1999 replace?

FEMA replaced the Foreign Exchange Regulation Act, 1973.

This topic is part of Daily Current Affairs 20 November 2025 (16 topics).

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