Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Top Headlines »
Open DEMAT Account in 24 hrs
 Mastering Online Income Tax Return Filing: Step-by-Step Guide For Easy ITR Filing
 Notification No. 27/2023 CENTRAL BOARD OF DIRECT TAXES
 How to calculate income tax on stock market earnings along with your salary?
 10 things to remember while investing in tax saving fixed deposits (FDs)
 How HRA exemption can help you save tax in 2023-24
 Filing ITR On Your Own? A Senior Income Tax Expert Suggests This
 Income tax return filing for FY22-23: Form 16 issue date, ITR forms and more
 Notification No. 22/2023 CENTRAL BOARD OF DIRECT TAXES
 Four tax-saving tools for your investment portfolio
 How to decide which Income Tax Regime is good for you in FY 2023-24
 How to maximise your tax refund: Strategies for smart filing

Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions
December, 13th 2022

RBI/2022-23/151
A. P. (DIR Series) Circular No. 19

December 12, 2022

All Authorised Dealer Category – I Banks

Madam / Sir,

Hedging of Commodity Price Risk and Freight Risk in Overseas Markets
(Reserve Bank) Directions

Please refer to Paragraph 4 of the Statement on Developmental and Regulatory Policies announced as a part of the Bi-monthly Monetary Policy Statement for 2022-23 dated December 07, 2022 regarding hedging of price risk of gold in overseas markets. Attention is also invited to the Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 dated March 12, 2018, as amended from time to time.

2. Resident entities in India are currently not permitted to hedge their exposure to price risk of gold in overseas markets. On a review, it has been decided to permit eligible entities to hedge their exposure to price risk of gold on exchanges in the International Financial Services Centre (IFSC) recognised by the International Financial Services Centres Authority (IFSCA).

3. The Master Direction – Foreign Exchange Management (Hedging of Commodity Price Risk and Freight Risk in Overseas Markets) Directions, 2022 (A. P. (DIR Series) Circular No. 21 dated December 12, 2022) have been issued today and are enclosed herewith.

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)
Chief General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting