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of <h1>RBI Lifts $100M Cap on Net Forex Supply for Category-I Banks in INR Swap Transactions, Enhancing Flexibility for Clients.</h1> The circular addresses Category-I Authorized Dealer banks regarding the guidelines for Over the Counter (OTC) Foreign Exchange Derivatives, specifically Foreign Currency-INR swaps. It references a previous directive that allowed these banks to engage in swap transactions as intermediaries without limits, except for a USD 100 million cap on net foreign exchange supply. The circular announces the removal of this USD 100 million limit, allowing banks greater flexibility in facilitating swaps for corporate clients. These directions are issued under the Foreign Exchange Management Act, 1999, and banks are instructed to inform their clients accordingly.
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