Inward or outward or both remittance of lotteries banned:rbi

I am learning about the RBI and Foreign Exchange Regulation Act, when I came to know that the remittance to lotteries etc are banned by RBI due to increasing cases of frauds and phishing. This ban applies to the outward remittance(payment for upfront/lottery schemes) or inward remittance(remittance of lottery amount to India) or both? If possible, specify the clause in which it is mentioned in the respective Act.




Your are not logged in . Please login to post replies

Click here to Login / Register  


Search Forum:


  LAWyersclubindia Menu