Latest Expert Exchange Queries

Make 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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: cpt :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: VAT RATES :: form 3cd :: TDS :: empanelment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
 
 
« Latest Circulars »
  Master Direction - Lending to Micro, Small & Medium Enterprises (MSME) Sector
 Auction of Government of India Dated Securities July 24, 2017
 RBI to conduct 7 day Variable Rate Reverse Repo Auction under LAF on July 24, 2017
 Results of Underwriting Auctions Conducted on July 20, 2017
 Master Circular – Detection and Impounding of Counterfeit Notes
 Monitoring of Foreign Investment under PIS in Indian Companies – M/s The Byke Hospitality Limited - 1. Increase in FIIs/FPIs Investment limit under Portfolio Investment Scheme from 24% to 40% Removal from the FIIs/ FPIs Caution List
 RBI's Monthly Bulletin for July 2017
 Financial Action Task Force (FATF) Public Statement dated June 23, 2017
 All-India House Price Index (HPI) recorded marginal increase in Q4:2016-17
 Auction of Government of India Dated Securities July 17, 2017
 RBI-Interest rates for Small Savings Schemes

Reporting Platform for OTC Foreign Exchange and Interest Rate Derivatives
June, 25th 2012

RBI/2011-12/616
FMD.MSRG.No.69/02.05.002/2011-12

June 22, 2012

All Category I Authorised Dealer Banks and Primary Dealers

Madam/Sir,

Reporting Platform for OTC Foreign Exchange and Interest Rate Derivatives

Reserve Bank, vide its circular No.FMD.MSRG.No.67/02.05.002/2011-12 dated March 9, 2012, had advised that all inter-bank OTC foreign exchange derivatives transactions should be reported on a platform to be developed by the CCIL. The CCIL has since completed development of the platform for reporting of USD-INR forwards, FX swaps and FCY-INR options. It has been decided that the platform should be operationalised with effect from July 9, 2012. The salient features of the reporting requirement are as under.

  1. AD category-I banks are required to report all their inter-bank OTC USD-INR forwards, FX swaps and FCY-INR options in hourly batches within 30 minutes from completion of the hour. For example, the first hourly batch will cover trades undertaken between 9 a.m. and 10 a.m. which shall have to be reported on the CCILs platform by 10.30 a.m.

  2. Trades with banks own overseas branches need not be reported.

  3. Details of all the outstanding inter-bank OTC USD-INR forwards, FX swaps and FCY-INR options as on the date of commencement of the reporting, i.e, July 9, 2012 are required to be reported to CCIL by July 31, 2012.

  4. AD category-I banks may complete the pre-commencement formalities including membership of the reporting platform well in time.

  5. Detailed operational guidelines in this regard would be made available by CCIL.

Reporting of other inter-bank OTC foreign exchange derivatives and all/selective trades in OTC foreign exchange and interest rate derivatives between the AD categoryI banks/market makers (banks/PDs) and their clients on CCILs reporting platform will be introduced in a phase-wise manner to be advised in due course.

Yours sincerely

(G. Mahalingam)
Chief 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