Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TDS :: due date for vat payment :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: cpt :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: empanelment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Latest Circulars »
  GST-Practical Difficulties In Filing And Solution, Code Of Ethics (Indirect Taxes)
 Sources of Variation in Foreign Exchange Reserves in India during April-September 2017
 Developments in India’s Balance of Payments during the Second Quarter (July-September) of 2017-18
 Professor Vijay Joshi, Emeritus Fellow, Merton College, Oxford, delivers the Fifteenth L. K. Jha Memorial Lecture titled ‘India’s Economic Reforms: Reflections on the Unfinished Agenda’
 Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review
 Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
 How to save maximum tax from Sec 80C deductions for FY2017-18
 Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India
 Change in name of “Sardar Bhiladwala Pardi People’s Co-operative Bank Ltd., Killa Pardi, Dist. Valsad (Gujarat)” to “SBPP Co-operative Bank Ltd., Killa Pardi, Dist. Valsad (Gujarat)” in the Second Schedule to the Reserve Bank of India Act, 1934
 Auction of Government of India Dated Securities December 5, 2017
 Auction for Sale (Re-issue) of Government Stock (GS) December 5, 2017

RBI-Risk Management and Inter Bank Dealings: Foreign Currency (FCY) INR Swaps
February, 14th 2015

RBI/2014-15/469 
A.P. (DIR Series) Circular No. 78

February 13, 2015

To

All Category - I Authorised Dealer Banks

Madam / Sir,

Risk Management and Inter Bank Dealings: Foreign Currency (FCY) – INR Swaps

Attention of Authorised Dealers Category‐I (AD Category‐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) circular no. 32 dated December 28, 2010, as amended from time to time.

2. In terms of paragraph (1) (iv) of section B contained in the annex to the above circular, eligible residents can enter into FCY-INR swaps to hedge exchange rate and/or interest rate risk exposure arising out of long-term foreign currency borrowing or to transform long-term INR borrowing into foreign currency liability, subject to operational guidelines, terms and conditions listed thereunder. As per condition listed at (e), swap transactions, once cancelled, shall not be rebooked or reentered, by whichever mechanism or by whatever name called.

3. To permit greater flexibility to the residents borrowing in foreign currency, it has been decided that in cases where the underlying is still surviving, the client, on cancellation of the swap contract, may be permitted to re-enter into a fresh FCY-INR swap to hedge the underlying but only after the expiry of the tenor of the original swap contract that had been cancelled. All other operational guidelines, terms and conditions governing FCY-INR swaps remain unchanged.

4. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers.

5. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law.

Yours faithfully

(Dimple Bhandia)
General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions