|
The Reserve Bank of India (RBI) has advised the public not to succumb to the temptation of fictitious offers of large funds through e-mails from unknown entities. "Members of public should also not make any remittance towards participation in such schemes/offers from unknown entities," the central bank said while clarifying that sending money abroad to participate in lottery or similar schemes is not permitted under Foreign Exchange Management Act (FEMA). The RBI has issued the warning to caution individuals who initially receive tempting offers of large funds on various pretexts from unknown overseas entities through e-mails and letters and are later requested to remit a small amount as commission for transfer of money. The RBI clarified that under FEMA restrictions on transfer of funds also apply to lottery-like schemes functioning in different names such as money circulation scheme or remittances for the purpose of securing prize money/awards etc. Describing the usual modus operandi of such operators, the RBI said that once the contact is established, the offer is followed by a request seeking details of bank account of the individuals and a demand for some initial deposit/ commission for transfer of money. The central bank, it said, has been receiving references from individuals in the past seeking approvals for effecting remittances in foreign currency towards commission/fees for receiving prizes won in overseas lottery schemes. The central bank has also asked the people not to be swayed by copies of certificates/deposit schemes, purported to have been issued by the RBI, which some operators produce to substantiate their claims. |
Mixx
Facebook
Twitter
Digg
delicious
reddit
MySpace
StumbleUpon
LinkedIn
Windows 8 likely to support Adobe Flash
About eight months back, when Microsoft introduced its Windows 8 Metro UI, it was almost clear that the company’s Metro version........
Dell Latitude 10, first Windows 8 tablet shows up
Microsoft's programme to incubate 10 Indian start-ups in cloud computing
Giant radio telescope gets split location
Asus Eee Pad Transformer Prime TF201 Review
Top 5 potential Gmail alternatives
Yahoo! Axis reportedly slowing down IE9
The latest "should they-shouldn't they" event with Facebook is the lift of the minimu...
Leaked Images, Availability, Pricing,
Specs, Pre-order
Top 5 free all-in-one messengers for Windows
The number of instant messaging services have exploded, since the first...
Project Darpan: Digitizing Indian local languages
Compared to the relatively slow adoption rate of the traditional PC, that...
Top 10 tips for Internet Explorer 9
Microsoft’s browser Internet Explorer has been around a while and things
By Tech2
Exploring Apps Store: Apps for the Samsung Galaxy Note
Andi Braime
Sat May 26, 20:00:23
Exploring Apps Store: Apps for the Samsung Galaxy Note
Andi Braime
Sat May 26, 19:59:32
Google Nexus tablet to be unveiled at Google I/O 2012
Derek Matuszewski
Sat May 26, 19:03:39
_011517074205_160x90.jpg "Epson Stylus Photo R3000")
Sony to roll-out ICS update next week,...
BlackBerry Curve 9320 announced in India...
Microsoft VP talks about Ballmer's...
Cisco won't invest in their Android...
About Us | Site Profile | Tech2 Team | IBNLive News | IBNLive Hindi News | Cricket News | Indian Stock Market | Policy | T & C
Copyright © 2011, Tech2.com India - A Network 18 India Venture
