Commodity hedging extended to crude oil and petroleum products, subject to Reserve Bank approval and Schedule III procedures. The Reserve Bank extends permission to persons resident in India to enter into hedging contracts for price exposure in crude oil and petroleum products under the Foreign Exchange Management (Foreign exchange derivative contracts) Regulations, 2000, applying the Schedule III procedural requirements mutatis mutandis; a formal amendment will be issued and authorised dealers must notify constituents, with contraventions liable to penalties under the Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Commodity hedging extended to crude oil and petroleum products, subject to Reserve Bank approval and Schedule III procedures.
The Reserve Bank extends permission to persons resident in India to enter into hedging contracts for price exposure in crude oil and petroleum products under the Foreign Exchange Management (Foreign exchange derivative contracts) Regulations, 2000, applying the Schedule III procedural requirements mutatis mutandis; a formal amendment will be issued and authorised dealers must notify constituents, with contraventions liable to penalties under the Act.
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