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of <h1>New Guidelines for Margin Requirements in Derivative Contracts Between Indian and Non-Resident Parties Under FEMA Regulations.</h1> The circular addresses Authorised Dealer Category-I banks regarding the margin requirements for derivative contracts between residents and non-residents of India. It references the Foreign Exchange Management Regulations, 2020, and outlines permissible forms of margin, including Indian currency, freely convertible foreign currency, and specific debt securities. Margins can be posted and collected both in India and abroad, with conditions on credit ratings for securities. Banks may also manage interest on margins and are required to maintain separate accounts for non-residents. These directives are issued under the Foreign Exchange Management Act, 1999, and are subject to other legal permissions.
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