 "rbi, reserve bank of india")
The Reserve Bank of India’s (RBI’s) move to introduce a foreign exchange trading platform for retail customers is set to hit the fee income of banks significantly.
This may also take a toll on the operations of small-time money changers in the long term in case the platform is adopted directly by the customers.
Considering that a customer will have to knock on a bank’s doors to get a limit and a KYC approved beforehand to access the platform could be cumbersome for many, particularly those with small currency requirements.
“Not everyone comes to banks for their currency needs. These
