Role of the FEDAI

The Authorized dealers have to furnish an undertaking to the RBI in adhering to the terms and conditions that are introduced from time to time by the FEDAI. Thus, there are different rules for different transactions primarily to safeguard the interest of the importers, exporters’, general public as a whole and also the authorized dealers. FEDAI lays down the terms and conditions that survey the daily Forex transactions in India. Apart from this, it also supports its associate banks with regard to advising and assisting in the training of its personnel. It then certifies the foreign exchange brokers of India and announces the exchange rates to its associate banks. read more