Swap tenor determination: tenor follows underlying FCNR(B) deposit tenor; banks must request swap from the central bank indicating days. The tenor of the swap is governed by the tenor of the underlying FCNR(B) deposits and will be for three years or more; banks seeking the swap window must approach the Reserve Bank to request the swap and indicate the tenor in number of days.
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Provisions expressly mentioned in the judgment/order text.
Swap tenor determination: tenor follows underlying FCNR(B) deposit tenor; banks must request swap from the central bank indicating days.
The tenor of the swap is governed by the tenor of the underlying FCNR(B) deposits and will be for three years or more; banks seeking the swap window must approach the Reserve Bank to request the swap and indicate the tenor in number of days.
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