https://www.taxtmi.com/circulars?id=8499 FFMCs and ADs Category II (excluding RRBs, LABs, UCBs and NBFCs) with a minimum net worth of Rs. 5 crore may participate as clients in designated currency futures and exchange traded currency options on recognised exchanges solely to hedge their underlying foreign exchange exposures; institutions in the excluded categories are to follow Reserve Bank departmental instructions, and non compliance engages penal provisions under the Foreign Exchange Management Act. en-us Tue, 25 Jan 2011 00:00:00 +0530 Fri, 28 Jan 2011 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8499 FFMCs and ADs Category II (excluding RRBs, LABs, UCBs and NBFCs) with a minimum net worth of Rs. 5 crore may participate as clients in designated currency futures and exchange traded currency options on recognised exchanges solely to hedge their underlying foreign exchange exposures; institutions in the excluded categories are to follow Reserve Bank departmental instructions, and non compliance engages penal provisions under the Foreign Exchange Management Act. Circulars FEMA Tue, 25 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8499