Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Banks Must Verify FII Currency Hedge Exposures with Mandates per Foreign Exchange Management Act, 1999 Guidelines.</h1> Authorized Dealer Category - I banks are reminded of guidelines permitting Foreign Institutional Investors (FIIs) to hedge currency risks on their investments in India. Banks must periodically verify that forward covers are backed by actual exposures. If an FII wishes to hedge a sub-account's exposure, a mandate from the sub-account holder is required, and banks must verify the mandate and contract eligibility against the sub-account's securities market value. Banks should inform relevant parties of this circular, issued under the Foreign Exchange Management Act, 1999, which does not override other legal permissions or approvals.
TaxTMI 
TaxTMI 
