RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S2

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

55448405

Introduction of Currency Futures - UCBs

RBI/2008-09/178
UBD.PCB.Cir.No. 14/16.12.000/ 08-09

September 17, 2008.

The Chief Executive Officer of
All Primary  (Urban) Co-operative Banks.

Dear Sir/Madam,
Introduction of Currency Futures - UCBs

As announced in the Annual Policy Statement for the year 2007-08, an Internal Working Group was set up by the Reserve Bank of India to study the international experience and suggest a suitable framework to operationalise the proposal to introduce exchange traded Currency Futures in India. The Working Group has in its report, recommended the introduction of currency futures in the domestic foreign exchange market.
2. The recommendations have been examined and accepted by the Reserve Bank of India and directions have been issued, vide Notification No. FEMA177/RB-2008 dated August 1, 2008.  Accordingly, it has been decided that UCBs which are authorized to undertake forex business as Authorised Dealer Category I and II, may participate in the designated currency futures exchanges recognized by SEBI as clients, subject to RBI (Foreign Exchange Department) guidelines in the matter, only for the purpose of hedging their underlying forex exposures.

Yours faithfully,

(A.K Khound)
Chief General Manager-in-Charge

RbiTtsCommonUtility

PLAYING
LISTEN

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

بھارت موبائل ایپلی کیشن کے ریزرو بینک کو انسٹال کریں اور تازہ ترین خبروں تک فوری رسائی حاصل کریں!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

یہ صفحہ مددگار تھا؟