https://www.taxtmi.com/circulars?id=71579 INR non-deliverable derivative contracts offered by Authorised Dealers to non-resident users are restricted to hedging purposes. Authorised Dealers must maintain a Foreign Exchange Risk Reserve for INR foreign exchange derivative contracts undertaken to hedge the currency risk of their own assets and liabilities where foreign currency is purchased against INR. The reserve must equal 20 per cent of the INR equivalent of each contract's notional amount and be maintained as daily cash with the Reserve Bank until contract termination. The requirements apply prospectively. en-us Mon, 12 Oct 2026 00:00:00 +0530 Tue, 13 Oct 2026 10:03:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71579 INR non-deliverable derivative contracts offered by Authorised Dealers to non-resident users are restricted to hedging purposes. Authorised Dealers must maintain a Foreign Exchange Risk Reserve for INR foreign exchange derivative contracts undertaken to hedge the currency risk of their own assets and liabilities where foreign currency is purchased against INR. The reserve must equal 20 per cent of the INR equivalent of each contract's notional amount and be maintained as daily cash with the Reserve Bank until contract termination. The requirements apply prospectively. Circulars FEMA Mon, 12 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71579