India’s central bank has confirmed a firm by the name of M/s Forex Achievements is a unregualted company which has no regulation and registration with the RBI.
India’s vulnerable investors have been exposed to false players claiming guaranteed funds using FX as an asset class. M/ S Forex Achievements has gone as far as using a fabricated certificate and registration number as if they are a registered company under RBI.
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RBI has been hitting on firms offering spot FX to resident Indians.