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RBI tightens rules on rupee non-deliverable contracts, widens 20% cash reserve requirement
Source: Economic Times · 4 hr ago
Summary
The Reserve Bank of India has tightened regulations on rupee non‑deliverable derivative contracts, restricting overseas clients to use them solely for hedging purposes. It has also expanded the 20 % cash reserve requirement so that banks must hold the reserve against their own rupee currency‑hedge positions.
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From the original report
The Reserve Bank of India on Monday tightened rules on rupee non-deliverable derivative contracts, limiting overseas clients to using them only for hedging, and widened a 20% cash reserve requirement to banks' own rupee currency hedges.
Excerpt from Economic Times.
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