What is the role of FEDAI in foreign exchange market?

The Foreign Exchange Dealers' Association of India (FEDAI) plays a crucial role in the foreign exchange market by establishing guidelines and best practices for forex transactions among its member banks and financial institutions. It aims to promote a fair and transparent foreign exchange market in India, facilitating efficient trading and settlement processes. Additionally, FEDAI provides training and resources to enhance the skills of forex professionals and works to represent the interests of its members in policy discussions with regulatory authorities.