https://www.taxtmi.com/circulars?id=11729 The Reserve Bank extended the existing inter-bank switch facility so that residents may rollover hedge transactions by switching Authorised Dealer Category I banks on the contract maturity date. The extension applies to all hedge transactions and remains subject to the established conditions: a commercially warranted reason for the switch, simultaneous cancellation and rebooking on maturity, and the rebooking bank's responsibility to ensure cancellation of the original contract. These directions are issued under the Foreign Exchange Management Act. en-us Wed, 11 Jul 2012 00:00:00 +0530 Wed, 11 Jul 2012 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11729 The Reserve Bank extended the existing inter-bank switch facility so that residents may rollover hedge transactions by switching Authorised Dealer Category I banks on the contract maturity date. The extension applies to all hedge transactions and remains subject to the established conditions: a commercially warranted reason for the switch, simultaneous cancellation and rebooking on maturity, and the rebooking bank's responsibility to ensure cancellation of the original contract. These directions are issued under the Foreign Exchange Management Act. Circulars FEMA Wed, 11 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11729