Currency futures permitted for residents to hedge exchange risk under RBI and SEBI directions with regulated participation. Introduction of currency futures as standardized exchange traded contracts for approved currency pairs, permitting participation only by persons resident in India subject to RBI and SEBI directions. Contracts are standardized (contract size, INR quotation and settlement, maturity cap, settlement reference rate). Membership and participation rules distinguish the currency futures segment, impose prudential eligibility for AD Category I banks, require inclusion of futures exposure within banks' Net Open Position and Aggregate Gap limits, and mandate margins, surveillance, disclosures and RBI authorisation for exchanges and clearing corporations.