https://www.taxtmi.com/circulars?id=66365 AD Category I banks operating IFSC Banking Units may offer NDDCs involving the Rupee to resident non retail users for hedging, cash settled in the Rupee. Cash settlement of NDDC transactions between AD Category I banks and between an AD Category I bank and a person resident outside India is permitted in the Rupee or any foreign currency. The Master Direction is amended to define NDDC as an OTC foreign exchange derivative contract that is cash settled without delivery of the notional underlying currencies. en-us Tue, 06 Jun 2023 00:00:00 +0530 Wed, 07 Jun 2023 09:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66365 AD Category I banks operating IFSC Banking Units may offer NDDCs involving the Rupee to resident non retail users for hedging, cash settled in the Rupee. Cash settlement of NDDC transactions between AD Category I banks and between an AD Category I bank and a person resident outside India is permitted in the Rupee or any foreign currency. The Master Direction is amended to define NDDC as an OTC foreign exchange derivative contract that is cash settled without delivery of the notional underlying currencies. Circulars FEMA Tue, 06 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66365