https://www.taxtmi.com/circulars?id=11415 The circular withdraws the facility permitting cancellation and rebooking of forwards by residents; forwards once cancelled cannot be rebooked. Past performance hedging limits are reduced and such contracts must be fully deliverable, with no passing of exchange gains on cancellations to customers. Cash/tom/spot client transactions must be for actual remittance/delivery and non cancellable. FIIs may roll over forwards but cancelled contracts cannot be rebooked. Net Overnight Open Position Limits for Authorised Dealers are reduced and intra day limits must not exceed the approved NOOPL. en-us Thu, 15 Dec 2011 00:00:00 +0530 Thu, 15 Dec 2011 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11415 The circular withdraws the facility permitting cancellation and rebooking of forwards by residents; forwards once cancelled cannot be rebooked. Past performance hedging limits are reduced and such contracts must be fully deliverable, with no passing of exchange gains on cancellations to customers. Cash/tom/spot client transactions must be for actual remittance/delivery and non cancellable. FIIs may roll over forwards but cancelled contracts cannot be rebooked. Net Overnight Open Position Limits for Authorised Dealers are reduced and intra day limits must not exceed the approved NOOPL. Circulars FEMA Thu, 15 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11415