The Reserve Bank of India (RBI) on May 03, 2023, issued the notification regarding the amendment to the Master Direction on Risk Management and Inter-Bank Dealings.
The following has been stated namely: -
• The amendments are placed at Annex I.
• Directions on reporting of OTC foreign exchange derivative contracts and foreign currency interest rate derivative contracts to the Trade Repository of Clearing Corporation of India Ltd. have been updated and incorporated in Part E of the Master Direction.
• The following amendments have been made namely: -
o Para 5 has been inserted namely: -
“Authorised Persons shall mean Authorised Dealer Category - I banks, Standalone Primary Dealers authorised as Authorised Dealer Category – III and for the purpose of exchange traded currency derivatives, Recognised Stock Exchanges and Recognised Clearing Corporations, authorised under Section 10 (1) of the FEMA, 1999.”
o Para 6 of Part A (Section III) which states “Operational Guidelines, terms and conditions for AD Category-I banks participation in the ETCD market” shall be renamed to:
“Participation of Authorised Dealers in the exchange traded currency derivative (ETCD) market”
[Notification No. RBI/2024-25/32]
