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Risk Management & Inter-Bank Dealings: Booking of Forward Contracts - Liberalisation
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....ttention of Authorised Dealers Category-I (AD Cat-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB-2000 dated May 3, 2000) as amended from time to time and A.P. (DIR Series) Circulars No. 15 dated October 29, 2007 and 119 dated April 7, 2014 regarding Booking of Forward Contracts - Libera....
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....is of a simple declaration. While the contracts booked under this facility would normally be on a deliverable basis, cancellation and rebooking of contracts are permitted. Based on the track record of the entity, the concerned AD Cat-I bank may, however, call for underlying documents, if considered necessary, at the time of rebooking of cancelled contracts. All other conditions as indicated in A.P....
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.... faithfully, (R Subramanian) Chief General Manager Annex I Application cum Declaration for booking of forward contracts / options up to USD 1,000,000 by Resident Individuals, Firms and Companies (To be completed by the applicant) I. Details of the applicant a. Name ................................ b. Address.............................. c. Account No..................
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....n only) and certify that the above derivative contracts are meant for undertaking permitted current and / or capital account transactions. I also certify that I have not booked foreign exchange forward / FCY-INR options contracts with any other bank / branch. I have understood the risks inherent in booking of foreign exchange forward contracts / FCY-INR options contracts. Signature of the appli....