In pursuance of the announcements made in the Statement on Developmental and Regulatory Policies dated February 6, 2020, the Reserve Bank of India has released today Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2020. Comments on the Draft Directions are invited from banks, market participants and other interested parties by October 15, 2020.

Feedback on the Draft Directions may be forwarded to:

The Chief General Manager, Reserve Bank of India
Financial Markets Regulation Department
9th Floor, Central Office Building
Shahid Bhagat Singh Marg, Fort
Mumbai – 400001

or by email with the subject line “Feedback on Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2020”.

(Yogesh Dayal)     
Chief General Manager

Rupee interest rate derivatives rules proposed; public consultation invited and stakeholders may submit written comments. The Reserve Bank has published the Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2020 under Section 45W of the RBI Act, 1934, proposing a regulatory framework for rupee interest rate derivatives and clarifying the Reserve Bank's supervisory scope. The publication institutes a public consultation: banks, market participants and other interested parties are invited to submit written comments to the Financial Markets Regulation Department by the stated deadline, using the prescribed contact channels and email subject line.