Is MT760 OR MT 799 legal in India?

In India, the use of MT760 and MT799 messages, which are types of SWIFT messaging used in international banking and trade finance, is subject to regulatory scrutiny. While these messages themselves are not illegal, their use must comply with the Foreign Exchange Management Act (FEMA) and other relevant regulations. Any fraudulent or unauthorized use of these messages can lead to legal consequences. It's essential for businesses to ensure compliance with applicable laws when engaging in transactions involving these instruments.