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TMI BlogParticipation of Non Resident Indians (NRIs) in the Exchange Traded Currency Derivatives (ETCD) segmentX X X X Extracts X X X X X X X X Extracts X X X X ..... Non Resident Indians (NRIs) in the Exchange Traded Currency Derivatives (ETCD) segment Reserve Bank of India (RBI) vide A.P. (DIR Series) Circular no. 30 dated February 02, 2017 has permitted Non Resident Indians (NRIs) to participate in the exchange traded currency derivatives market to hedge the currency risk arising out of their investments in India under FEMA, 1999. 2. NRIs are now per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vidend due and balances held in NRE accounts. (iii) The onus of complying with the relevant provisions of the RBI A.P. (DIR Series) Circular no. 30 dated February 02, 2017 shall rest with the NRI and in case of any contravention, the NRI shall render itself liable to any action that may be warranted by RBI as per the provisions of Foreign Exchange Management Act, 1999. 4. The exchange/ clear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gher. GBP-INR Gross open position across all contracts shall not exceed 6% of the total open interest or GBP 5 million, whichever is higher. JPY-INR Gross open position across all contracts shall not exceed 6% of the total open interest or JPY 200 million, whichever is higher. 6. Accordingly, Para I.1.d. o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the stock brokers and also disseminate the same on their website, and (iii) communicate the status of implementation of the provisions of this circular in the Monthly Development report submitted to SEBI including pre-trade and post-trade controls. 8. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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