Regulator amends Master Direction allowing AD Category-III standalone primary dealers to trade non-deliverable rupee derivatives with residents and banks

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Full Text of the Document

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....Regulator permits standalone primary dealers authorised as Authorised Dealer Category-III to transact in non-deliverable rupee derivative contracts, amending the Master Direction to allow such transactions with residents, non-residents, IFSC banking units and overseas banks; the amendments take effect immediately and update multiple paragraphs to include AD Cat-III SPDs. For this circular, "Authorised Persons" means AD Cat-I banks and AD Cat-III SPDs. The directions are issued under statutory powers of the central bank and FEMA and are subject to any other legal permissions or approvals that may be required.....