On October 12, 2017, the Reserve Bank of India (RBI) issued a discussion paper that proposes to establish a spot currency trading platform and allow retail consumers access to it. Today, retail consumers are largely at the mercy of banks when dealing in foreign exchange. Banks often decide the buying and selling rates for foreign exchange at the opening of business hours and retain the same rate through the day. Resultantly, buyers and sellers of foreign exchange end up missing the benefits of intra-day price movements. Moreover, most banks do not transparently disclose their charges for currency dealings. Hence, allowing direct access to an exchange-like platform for currency trading is a welcome move. This essentially means when one goes to buy or sell foreign exchange from or to a bank, the buyer or seller dictates the price. The bank will place the order on the exchange platform for execution. This is a good thing, as it places more control in the hands of the consumer and