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Regulator amends Master Direction allowing AD Category-III standalone primary dealers to trade non-deliverable rupee derivatives with residents and banks
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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.
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.
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