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Regulator permits standalone primary dealers authorised as Authorised Dealer Category-III to transact in non-deliverable rupee derivative contracts, amending the Master Direction to allow such transactions with residents, non-residents, IFSC banking units and overseas banks; the amendments take effect immediately and update multiple paragraphs to include AD Cat-III SPDs. For this circular, 'Authorised Persons' means AD Cat-I banks and AD Cat-III SPDs. The directions are issued under statutory powers of the central bank and FEMA and are subject to any other legal permissions or approvals that may be required.