https://www.taxtmi.com/circulars?id=4317 Permits domestic crude oil refiners to hedge price risk on domestic crude purchases and product sales via underlying contracts linked to international exchanges, and to hedge anticipated imports up to prescribed volume limits based on past imports; hedges must be routed through Authorised Dealer Category - I banks, regularised by import orders where applicable, and subject to Board approved derivatives policies, explicit OTC approval, mark to market rules, permitted counterparties, half yearly Board reports of OTC transactions, and suitability checks under the Comprehensive Guidelines on Derivatives. Applications beyond delegated authority go to the Reserve Bank. en-us Tue, 03 Jun 2008 00:00:00 +0530 Mon, 13 Oct 2008 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4317 Permits domestic crude oil refiners to hedge price risk on domestic crude purchases and product sales via underlying contracts linked to international exchanges, and to hedge anticipated imports up to prescribed volume limits based on past imports; hedges must be routed through Authorised Dealer Category - I banks, regularised by import orders where applicable, and subject to Board approved derivatives policies, explicit OTC approval, mark to market rules, permitted counterparties, half yearly Board reports of OTC transactions, and suitability checks under the Comprehensive Guidelines on Derivatives. Applications beyond delegated authority go to the Reserve Bank. Circulars FEMA Tue, 03 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4317