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of <h1>SEBI Guidelines: Currency Futures Membership Must Be Separate from Equity Segments; Specific Criteria for Bank Participation</h1> Membership in the currency futures market of a recognized stock exchange must be distinct from the equity derivative or cash segments, per SEBI guidelines. Banks authorized by the Reserve Bank of India as 'AD Category - I banks' can be trading and clearing members if they meet certain requirements: a minimum net worth of Rs. 500 crores, a CRAR of at least 10%, net NPAs not exceeding 3%, and profitability over the last three years. Those not meeting these criteria, including Urban and State Co-operative banks, may only participate as clients with Reserve Bank approval.
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