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Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020 - FEMA.398/RB-2020 - Foreign Exchange Management

Extract

..... t Amendment) Regulations, 2020. ii. These regulations shall come into force from the date of their publication in the Official Gazette. 2. Amendments i. In para 2 (Definitions) of the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification No. FEMA 25/RB-2000 dated May 3, 2000) the text of the definition of “authorised dealer” at sub para (ii) shall be substituted by the following: 'authorised dealer' means a person authorised as such by Reserve Bank under sub-section (1) of section 10 of the Act; ii. In para 2 (Definitions) of the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification No. FEMA 25/RB-2000 dated May 3, 2000) the exist .....

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Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020 - FEMA.398/RB-2020 - Foreign Exchange Management

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..... es of one foreign currency against another or on account of movement of interest rate applicable to a foreign currency. (xv) ‘Hedging’ means the activity of undertaking a foreign exchange derivative transaction to manage currency risk. (xvi) ‘Exchange traded currency derivatives’ means a standardised foreign exchange derivative contract traded on a recognized stock exchange to buy or sell one currency against another on a specified future date, at a price specified on the date of contract. iv. In para 2(Definitions) of the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification No. FEMA 25/RB-2000 dated May 3, 2000) the existing sub-paras (iii), (iv), (va), (vi), (viii), (i .....

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Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020 - FEMA.398/RB-2020 - Foreign Exchange Management

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..... : 1. A person, whether resident in India or resident outside India, may enter into a foreign exchange derivative contract with an authorised dealer. Contracts involving Rupee subject to the following condition(s): i. that such contracts shall be for the purpose of hedging a contracted or anticipated exposure Provided that contracts not based on a contracted or anticipated exposure may be undertaken, as may be permitted by the Reserve Bank of India Provided further that transactions that involve the Rupee but are settled by delivery of a foreign currency shall be undertaken only by an authorised dealer or a person not resident in India and such other persons as may be permitted by the Reserve Bank of India, in terms of the directions issued .....

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Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020 - FEMA.398/RB-2020 - Foreign Exchange Management

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