News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Circulars »
 Minutes of the Monetary Policy Committee Meeting May 20 to 22, 2020
 RBI announces creation of Payments Infrastructure Development Fund
 Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Loans for Agriculture including Animal Husbandry, Dairy and Fisheries for extended period on account of Covid-19
 Extension of timeline for compliance with various payment system requirements
 RBI announces rate of interest on Government of India Floating Rate Bonds, 2031
 Directions under Section 35 A read with Section 56 of the BR Act (AACS), 1949 - Kerala Mercantile Co-operative Bank Ltd., Kozhikode, Kerala - Extension of period
 What has changed and what additional details it seeks from taxpayers
 Be aware of imitated Emails in the name of Reserve Bank of India (RBI)
 Notification No. 28/2020 CENTRAL BOARD OF DIRECT TAXES
 Auction of Government of India Dated Securities June 01, 2020
 Recovery of Penal Interest on delayed remittance of Government Receipts into Government Account

Risk Management and Inter-bank Dealings Hedging of Foreign Exchange Risk-Date of Implementation
May, 19th 2020

A.P.(DIR Series) Circular No.31

May 18, 2020


Authorised Dealers Category – I


Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation

A reference is invited to the Directions on Hedging of Foreign Exchange Risk issued vide A.P. (DIR Series) Circular No. 29 dated April 7, 2020. The Directions were to come into effect from June 1, 2020.

2. Based on the requests received from market participants and in the context of the difficulties arising from the outbreak of novel coronavirus disease (COVID-19), it has been decided that the Directions will now come into effect from September 1, 2020.

3. Directions on the participation of Banks in Offshore Non-deliverable Rupee Derivat

4. 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-in-Charge

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting