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of <h1>RBI's Master Circular Guides Banks on Forex, Derivatives, and Risk Management for Non-Resident and Resident Accounts.</h1> The Master Circular on Risk Management and Inter-Bank Dealings, issued by the Reserve Bank of India, outlines comprehensive guidelines for Authorized Dealers (AD) Category I banks in managing foreign exchange and derivative transactions. It covers foreign exchange derivative contracts, hedging of overseas commodities and freight, and rupee accounts of non-resident banks. The circular specifies operational guidelines for risk management, including contracted and probable exposures, special dispensations for SMEs, and facilities for residents and non-residents. It also details the participation in currency futures and options markets, management of banks' assets-liabilities, and reporting requirements to the Reserve Bank. The circular is updated periodically to reflect new instructions and amendments.
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