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Yup they will. Because of Reserve Bank of India guidelines, Cheq needs to at least show that they are making an effort to prevent domestic transactions being ma
by linolo 3y ago
Yup they will. Because of Reserve Bank of India guidelines, Cheq needs to at least show that they are making an effort to prevent domestic transactions being made outside India
- OJFord 3y agoWhat's the reasoning here? AML somehow? Or just that large amounts transferred in should be subject to import tax (that just doesn't seem like it would be RBI concern)? Because, on a basic high-level look, why would a country not want inflows of foreign cash, typically you do want to sell goods/services for foreign money, good for GDP.
- sudshekhar 3y agoI agree. In principle, there shouldn't be a concern allowing people to access their own money from anywhere in the world. However the product category itself is very new right now. We'll have to demonstrate strong customer need before approvals might be granted.