https://www.taxtmi.com/circulars?id=66132 Eligible resident entities (other than individuals) may hedge commodity price risk and freight risk in overseas markets using permitted products; gold hedges are limited to recognised IFSC exchanges. Banks may authorise and remit for such hedges after due diligence on exposure, hedge tenor and quantity, justification for OTC or non identical benchmarks, board approved hedging policy and requisite risk management. OTC contracts must be with regulated counterparties in acceptable jurisdictions, structured products are subject to net worth and listing conditions, all payments must pass through designated special accounts, and banks must maintain records, obtain annual statutory auditor certification, report irregularities and submit quarterly XBRL returns. en-us Mon, 12 Dec 2022 00:00:00 +0530 Sat, 07 Jan 2023 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66132 Eligible resident entities (other than individuals) may hedge commodity price risk and freight risk in overseas markets using permitted products; gold hedges are limited to recognised IFSC exchanges. Banks may authorise and remit for such hedges after due diligence on exposure, hedge tenor and quantity, justification for OTC or non identical benchmarks, board approved hedging policy and requisite risk management. OTC contracts must be with regulated counterparties in acceptable jurisdictions, structured products are subject to net worth and listing conditions, all payments must pass through designated special accounts, and banks must maintain records, obtain annual statutory auditor certification, report irregularities and submit quarterly XBRL returns. Circulars FEMA Mon, 12 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66132