The Reserve Bank of India (RBI) on December 27, 2024, notified regarding the reporting platform for transactions undertaken to hedge the price risk of gold.
The following has been stated namely: -
• It states that from February 01, 2025, banks shall report all gold derivative OTC transactions, including amendments, by themselves and their customers to CCIL's trade repository by noon the next business day.
• It states that banks shall report all matured and outstanding gold derivative OTC transactions from April 15, 2024, to February 28, 2025, to CCIL's trade repository as a one-time measure.
• It further states that banks shall submit quarterly reports on gold derivative transactions at IFSC and overseas exchanges to the RBI within 10 days of each quarter, starting December 31, 2024.
[Notification no. - RBI/2024-25/98]
