https://www.taxtmi.com/circulars?id=63596 Banks in India holding an Authorised Dealer Category 1 licence and operating IFSC Banking Units may offer non deliverable derivative contracts involving the Rupee to persons not resident in India. A Non deliverable derivative contract is defined as a Rupee foreign exchange derivative with a non resident counterparty settled without delivery of Rupee. Such transactions may be undertaken through IBUs, Indian branches, or foreign branches, and AD Category 1 banks with IBUs may transact NDDCs with other IBUs and overseas banks. en-us Fri, 27 Mar 2020 00:00:00 +0530 Sat, 28 Mar 2020 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=63596 Banks in India holding an Authorised Dealer Category 1 licence and operating IFSC Banking Units may offer non deliverable derivative contracts involving the Rupee to persons not resident in India. A Non deliverable derivative contract is defined as a Rupee foreign exchange derivative with a non resident counterparty settled without delivery of Rupee. Such transactions may be undertaken through IBUs, Indian branches, or foreign branches, and AD Category 1 banks with IBUs may transact NDDCs with other IBUs and overseas banks. Circulars FEMA Fri, 27 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63596