https://www.taxtmi.com/circulars?id=3034 Domestic oil refiners and marketers are permitted to hedge a capped portion of inventory price exposure overseas through authorised AD Category - I banks using OTC or exchange traded derivatives up to one year tenor. AD Category - I banks must ensure Board approved policies specifically permit inventory hedging and OTC dealings, include mark to market and counterparty rules, conduct suitability and due diligence checks, and require half yearly Board reporting of OTC transactions; other existing circular conditions and Reserve Bank approvals where delegated do apply. en-us Tue, 06 Nov 2007 00:00:00 +0530 Mon, 06 Oct 2008 13:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=3034 Domestic oil refiners and marketers are permitted to hedge a capped portion of inventory price exposure overseas through authorised AD Category - I banks using OTC or exchange traded derivatives up to one year tenor. AD Category - I banks must ensure Board approved policies specifically permit inventory hedging and OTC dealings, include mark to market and counterparty rules, conduct suitability and due diligence checks, and require half yearly Board reporting of OTC transactions; other existing circular conditions and Reserve Bank approvals where delegated do apply. Circulars FEMA Tue, 06 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=3034