https://www.taxtmi.com/circulars?id=52854 FPIs are allowed to participate in exchange traded currency derivatives to hedge currency risk on their Indian debt and equity exposures, trading through registered exchange members and subject to prescribed exchange-level position limits; positions beyond limits require demonstrable underlying exposure with the onus on the FPI. Exchanges must report FPI-wise positions to custodian banks, which aggregate positions across venues and OTC contracts, monitor excesses relative to market value of holdings, report transgressions, and trigger applicable penal and foreign exchange actions where aggregated contracts exceed holdings. en-us Fri, 20 Jun 2014 00:00:00 +0530 Fri, 20 Jun 2014 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52854 FPIs are allowed to participate in exchange traded currency derivatives to hedge currency risk on their Indian debt and equity exposures, trading through registered exchange members and subject to prescribed exchange-level position limits; positions beyond limits require demonstrable underlying exposure with the onus on the FPI. Exchanges must report FPI-wise positions to custodian banks, which aggregate positions across venues and OTC contracts, monitor excesses relative to market value of holdings, report transgressions, and trigger applicable penal and foreign exchange actions where aggregated contracts exceed holdings. Circulars FEMA Fri, 20 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52854