Foreign Currency-INR swap cap removed, allowing AD Category I banks to intermediate OTC swaps for customer hedging without the prior net supply limit. AD Category I banks may undertake OTC Foreign Currency-INR swap transactions as intermediaries by matching corporate counterparties' requirements to facilitate hedging, and the earlier regulatory cap on net supply of foreign exchange in the market for such swaps has been removed; banks should notify their constituents and remain subject to any other statutory permissions.
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Provisions expressly mentioned in the judgment/order text.
Foreign Currency-INR swap cap removed, allowing AD Category I banks to intermediate OTC swaps for customer hedging without the prior net supply limit.
AD Category I banks may undertake OTC Foreign Currency-INR swap transactions as intermediaries by matching corporate counterparties' requirements to facilitate hedging, and the earlier regulatory cap on net supply of foreign exchange in the market for such swaps has been removed; banks should notify their constituents and remain subject to any other statutory permissions.
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