https://www.taxtmi.com/circulars?id=53692 Master Circular sets a regulatory framework permitting specified foreign exchange derivatives (forwards, cross currency options not involving the rupee, foreign currency INR options, swaps) for defined users and purposes, mandates AD Category I banks as market makers with documentary verification, undertakings and auditor certificates, stipulates eligibility, notional and tenor limits (including ETCD participant caps of USD 15 million for USD INR and aggregate USD 5 million for other pairs), restricts exotic/leveraged products, prescribes prudential position and capital limits, and requires extensive periodic reporting to the Reserve Bank. en-us Wed, 01 Jul 2015 00:00:00 +0530 Wed, 11 Feb 2026 15:56:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53692 Master Circular sets a regulatory framework permitting specified foreign exchange derivatives (forwards, cross currency options not involving the rupee, foreign currency INR options, swaps) for defined users and purposes, mandates AD Category I banks as market makers with documentary verification, undertakings and auditor certificates, stipulates eligibility, notional and tenor limits (including ETCD participant caps of USD 15 million for USD INR and aggregate USD 5 million for other pairs), restricts exotic/leveraged products, prescribes prudential position and capital limits, and requires extensive periodic reporting to the Reserve Bank. Circulars FEMA Wed, 01 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53692