Today I got this email from icicibank. can some one please explain what exactly does it mean? Does it mean that I can't use my debit card for any online purhase? As per Reserve Bank of India circular no.RBI/2010-11/ 472 dated April 7, 2011 and RBI/2011-12/262 A.P (DIR Series) Circular No. 46 dated November 17, 2011, remittances in any form towards overseas foreign exchange trading through electronic or internet trading portals is not permitted under the Foreign Exchange Management Act (FEMA), 1999. Reserve Bank of India has also clarified that the existing regulations under FEMA, 1999 do not permit residents to trade in foreign exchange in domestic / overseas markets through your Debit Card. Residents are, however, permitted to trade in currency futures and options contracts, traded on the stock exchanges recognised by the Securities and Exchange Board of India (SEBI) in India, subject to the conditions specified by the Reserve Bank from time to time.