Foreign exchange hedging expanded: QFIs recognized and non-residents permitted rupee denominated ECB forward, option and swap hedges. A definition for Qualified Foreign Investor is added; Regulation 6 is amended to omit and renumber specified authorisation provisions; Regulation 6A cross references are updated. Schedule I removes a provision on cancellation and rebooking of resident hedge contracts and inserts a reference to foreign currency loans against FCNR(B) deposits. Schedule II inserts QFIs into participant listings and adds a provision permitting non residents to enter forward, foreign currency rupee option or foreign currency rupee swap contracts with an Authorised Dealer to hedge rupee denominated external commercial borrowings subject to stipulated terms and conditions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign exchange hedging expanded: QFIs recognized and non-residents permitted rupee denominated ECB forward, option and swap hedges.
A definition for Qualified Foreign Investor is added; Regulation 6 is amended to omit and renumber specified authorisation provisions; Regulation 6A cross references are updated. Schedule I removes a provision on cancellation and rebooking of resident hedge contracts and inserts a reference to foreign currency loans against FCNR(B) deposits. Schedule II inserts QFIs into participant listings and adds a provision permitting non residents to enter forward, foreign currency rupee option or foreign currency rupee swap contracts with an Authorised Dealer to hedge rupee denominated external commercial borrowings subject to stipulated terms and conditions.
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