Hedging of foreign exchange risk: implementation deferred; offshore non deliverable rupee directions remain effective as previously scheduled. Directions on hedging of foreign exchange risk originally to come into effect on June 1, 2020 are deferred and will now be effective from September 1, 2020; Directions on banks' participation in offshore non deliverable rupee derivative markets remain effective from June 1, 2020. The Circular is issued under the statutory foreign exchange framework and preserves any permissions required under other laws, addressed to Authorised Dealers Category I.
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Provisions expressly mentioned in the judgment/order text.
Hedging of foreign exchange risk: implementation deferred; offshore non deliverable rupee directions remain effective as previously scheduled.
Directions on hedging of foreign exchange risk originally to come into effect on June 1, 2020 are deferred and will now be effective from September 1, 2020; Directions on banks' participation in offshore non deliverable rupee derivative markets remain effective from June 1, 2020. The Circular is issued under the statutory foreign exchange framework and preserves any permissions required under other laws, addressed to Authorised Dealers Category I.
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