Hdfc account cancelled because of overseas forex trading

#13
Guys anyone have any update, what happens at end. I got similar mail and letter today. Mine is debit card, I just want to know if they will lock my card only or my bank account as well?
Thank you!
 
#18
His concern is about going to jail. I've previously read about similar cases of cards getting blocked due to them being used for international transactions prohibited under FEMA but I've not heard of anyone going to jail for it; nonetheless, if that's a concern, then it might be time to consult a decent lawyer.

This is the "free" country we live in, where a person can't even do something that doesn't hurt anyone else, with HIS OWN money! Whether it's forex trading or gambling or whatever, so long as you're not hurting someone else or stealing from or defrauding someone, people should be free to do what they want involving mutual voluntary interaction between other free people, that's true freedom!
atleast in this "free country", police doesn't shoot you for a mere traffic violation.
maybe "the land of the free" will deliver "true freedom".

ps, I understand your frustration rg. FEMA. To be fair, you should also read about the backdrop behind the law and why it was written in the first place.
 
#19
Is your money safe now ? If so then everything is really damn fine anyway no matter how hard do you put it all that no matter what, I am hoping that you really need to be carefull anyway. What happens next with you entirely and absolutely probably.
 

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