https://www.taxtmi.com/circulars?id=56299 Non residents and their central treasuries may hedge INR invoiced trade exposures with AD Category I banks in India under two models: Model I (via an overseas bank correspondent) and Model II (direct dealing with the AD bank). AD banks must verify underlying trade documentation, obtain prescribed undertakings and KYC/AML certification, confine hedge amount and tenor to the underlying transaction and regulatory limits, settle via Nostro/Vostro accounts, prohibit rebooking of cancelled contracts while permitting a single rollover tied to extension of the underlying transaction, and report Model II contracts to the trade repository. en-us Thu, 12 Oct 2017 00:00:00 +0530 Thu, 12 Oct 2017 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=56299 Non residents and their central treasuries may hedge INR invoiced trade exposures with AD Category I banks in India under two models: Model I (via an overseas bank correspondent) and Model II (direct dealing with the AD bank). AD banks must verify underlying trade documentation, obtain prescribed undertakings and KYC/AML certification, confine hedge amount and tenor to the underlying transaction and regulatory limits, settle via Nostro/Vostro accounts, prohibit rebooking of cancelled contracts while permitting a single rollover tied to extension of the underlying transaction, and report Model II contracts to the trade repository. Circulars FEMA Thu, 12 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=56299