RBI draft rules aim to end hidden fees on foreign exchange transactions

RBI proposes new rules for banks and authorised dealers to disclose all forex transaction costs upfront, aiming for transparency and informed choices in cross-border payments. This will be a particularly helpful for retail customers making cross-border payments, whether for education fees, travel, living expenses or investments.RBI proposes new rules for banks and authorised dealers to disclose all forex transaction costs upfront, aiming for transparency and informed choices in cross-border payments. This will be a particularly helpful for retail customers making cross-border payments, whether for education fees, travel, living expenses or investments.