https://www.taxtmi.com/circulars?id=11893 AD Category I banks may accept FIIs for hedging currency risk on the market value of their entire India investments if supported by a valuation certificate from the designated AD bank and a declaration that global outstanding hedges plus cancelled derivatives across AD banks are within the market value. FIIs must provide quarterly declarations to the custodian that total derivatives booked across AD banks are within the market value. Hedges with non-designated AD banks must be settled through the Special Non-Resident Rupee A/c maintained with the designated bank via RTGS/NEFT. en-us Mon, 22 Oct 2012 00:00:00 +0530 Tue, 23 Oct 2012 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11893 AD Category I banks may accept FIIs for hedging currency risk on the market value of their entire India investments if supported by a valuation certificate from the designated AD bank and a declaration that global outstanding hedges plus cancelled derivatives across AD banks are within the market value. FIIs must provide quarterly declarations to the custodian that total derivatives booked across AD banks are within the market value. Hedges with non-designated AD banks must be settled through the Special Non-Resident Rupee A/c maintained with the designated bank via RTGS/NEFT. Circulars FEMA Mon, 22 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11893