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1. Regulatory Updates
1.1. India
Reserve Bank of India (RBI)
1.1.1. RBI releases Draft Directions on Reporting
Instructions for Authorised Dealer Category – I
Banks
The Reserve Bank of India (“RBI”)
has issued draft Directions on Reporting Instructions for
Authorised Dealer Category – I Banks (“AD
Category – I Banks”) to enhance transparency
in over the counter (“OTC”) derivative
markets. The proposed framework mandates AD Category – I
Banks to report foreign exchange derivative transactions involving
Indian Rupee (“INR”) undertaken
globally by their related parties, building upon earlier reporting
requirements applicable to primary dealers and banks. The measure
is intended to improve market visibility, strengthen price
discovery and enable more informed pricing decisions by market
participants. Comments
