https://www.taxtmi.com/circulars?id=55677 Non resident Indians are permitted to transact in exchange traded currency derivatives to hedge Rupee currency risk from permitted current account transactions or Rupee denominated assets or liabilities, subject to terms and conditions. NRIs must designate an Authorised Dealer Category I bank to receive exchange/clearing transaction details, consolidate OTC and exchange positions, monitor aggregate exposure against underlying Rupee risk, and report transgressions; the onus of proving underlying exposure lies with the NRI and excess hedging may attract statutory penalties. Regulatory amendments and directions implement this framework. en-us Thu, 02 Feb 2017 00:00:00 +0530 Fri, 03 Feb 2017 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=55677 Non resident Indians are permitted to transact in exchange traded currency derivatives to hedge Rupee currency risk from permitted current account transactions or Rupee denominated assets or liabilities, subject to terms and conditions. NRIs must designate an Authorised Dealer Category I bank to receive exchange/clearing transaction details, consolidate OTC and exchange positions, monitor aggregate exposure against underlying Rupee risk, and report transgressions; the onus of proving underlying exposure lies with the NRI and excess hedging may attract statutory penalties. Regulatory amendments and directions implement this framework. Circulars FEMA Thu, 02 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=55677