I had been using the OTC face-to-face method to exchange USDT to INR in the Delhi NCR region, but I stopped doing so after facing some legal issues and incurring significant financial losses. I had forgotten about this post as I had been busy with other matters.
If you are comfortable then feel free to express what are the challenges and legal issue with F2F trades, because I have never done it while it is becoming more popular in our country especially after 30% capital gains and 1%TDS tax rate imposed by our government.
Also please describe how things work in f2f trades, where you meet and how much is the minimum and maximum trade limit, over the market price and please tell us about the legal issues and how it lead you to financial losses.
This will help many others too who don't know the pitfalls in this kind of trading.