https://www.taxtmi.com/circulars?id=54607 Permits resident exporters and importers to write standalone plain vanilla European covered call and covered put currency option contracts to AD Category I banks against contracted export or import exposures, treating such covered options as structured derivative products and not as hedges. AD Category I banks must obtain internal approvals, assess the writer's risk management and financial strength, treat the underlying exposures as unhedged for capital and provisioning, may require margin or collateral, report transactions to the designated reporting platform, and observe limits on maturity and permissible combinations. en-us Thu, 23 Jun 2016 00:00:00 +0530 Thu, 23 Jun 2016 17:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54607 Permits resident exporters and importers to write standalone plain vanilla European covered call and covered put currency option contracts to AD Category I banks against contracted export or import exposures, treating such covered options as structured derivative products and not as hedges. AD Category I banks must obtain internal approvals, assess the writer's risk management and financial strength, treat the underlying exposures as unhedged for capital and provisioning, may require margin or collateral, report transactions to the designated reporting platform, and observe limits on maturity and permissible combinations. Circulars FEMA Thu, 23 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54607