MANU/RMIC/0010/2020
Ministry : Reserve Bank of India
Department/Board : Department of Regulation
Circular No. : DOR.IBD.BC.No.28/23.13.004/2019-2020
RBI/2019-2020/147
Date : 21.01.2020
Notification/ Circulars Referred : Circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015 MANU/RMIC/0131/2015;A.P (DIR Series) Circular No. 17 on "Introduction of Rupee derivatives at International Financial Services Centres (IFSCs)" dated January 20, 2020 MANU/APDR/0004/2020 Circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015 MANU/RMIC/0131/2015;A.P (DIR Series) Circular No. 17 on "Introduction of Rupee derivatives at International Financial Services Centres (IFSCs)" dated January 20, 2020 MANU/APDR/0004/2020
Citing Reference:
Circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015 MANU/RMIC/0131/2015 Referred
A.P (DIR Series) Circular No. 17 on "Introduction of Rupee derivatives at International Financial Services Centres (IFSCs)" dated January 20, 2020 MANU/APDR/0004/2020 Referred
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Dear Sir/Madam
Setting up of IFSC Banking Units (IBUs) - Permissible activities
Please refer to RBI circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015, as modified from time to time, setting out RBI directions relating to IFSC Banking Units (IBUs).
2. The Task Force (TF) on Offshore Rupee Markets chaired by Smt. Usha Thorat had recommended introduction of non-deliverable Rupee Derivatives in IFSCs in a phased manner, starting with ex........