RBI releases Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934

The Reserve Bank of India today released Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions 2019. Comments on the draft directions are invited from banks, market participants and other interested parties by April 26, 2019.

Feedback on the draft directions may be forwarded to:

The Chief General Manager, Reserve Bank of India
Financial Markets Regulation Department
1st Floor, Main Building
Shahid Bhagat Singh Marg,
Mumbai – 400001

Or by email with subject line “Feedback on Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019”.

Background

Reserve Bank of India in its Statement on Developmental and Regulatory Policies dated February 7, 2019 announced that RBI will issue a simplified comprehensive guidelines to rationalise regulations for interest rate derivatives (IRDs) to achieve consistency and ease of access with the eventual objective of fostering a thriving environment for management of interest rate risk in the Indian economy.

Accordingly, a draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 is being issued for feedback.

Anirudha D. Jadhav
Assistant Manager