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of <h1>RBI Updates Guidelines: Indian Entities Can Hedge Gold Price Risk on IFSC Exchanges Under FEMA 1999 Framework.</h1> The Reserve Bank of India has updated its guidelines to allow eligible resident entities in India to hedge their exposure to gold price risk on exchanges within the International Financial Services Centre (IFSC), as recognized by the International Financial Services Centres Authority (IFSCA). This change is part of the broader regulatory framework under the Foreign Exchange Management Act, 1999, and follows the Developmental and Regulatory Policies announced in the Bi-monthly Monetary Policy Statement for 2022-23. The updated Master Direction on hedging commodity price and freight risk in overseas markets is detailed in the new circular issued on December 12, 2022.
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