Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market - Taxindiainternational.com

INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI

NEWS FLASH

I-T - Draft assessment order is invalidated where issued in the name of an entity which ceased to exist on account of its amalgamation with another entity: ITAT (See Breaking News)

I-T - Profits from providing technical handling services as part of participation in international pool, whether to member or non-member airlines, are exempt from tax in India: ITAT (See Breaking News)

Budget 2026: Non-resident taxation almost becomes mainstream (See TII Edit)

I-T-Revisionary powers u/s 263 can be exercised where the AO's order is based on sound assessment of facts on proper enquiry: ITAT (See Breaking News)

I-T- Deduction u/s 80G of the Act can be claimed in respect of CSR Expenses: ITAT (See Breaking News)

TP - AO, having made reference u/s 92CA, was statutorily barred from independently determining ALP in absence of TPO order; ergo, revisionary power u/s 263 cannot be exercised in respect of an order which AO was not authorised to pass: ITAT (See Breaking News)

TP - Comparable company can be rejected if it is functionally dissimilar, as evidenced by factors like different business model, low employee cost, or fluctuating margins: ITAT (See Breaking News)

DTAA- Payments to foreign entities for ECB processing is not liable to tax under DTAA provisions where the technical know-how is not transferred: HC (See Breaking News)

TP - If delay in realizing receivables from Non-AEs was more than delay in realizing receivables from AEs, calls for ALP adjustment, if there existed no trade practice of not charging interest on export receivables: ITAT (See Breaking News)

TP - If final assessment order passed by AO u/s 143(3) r.w.s. 144C(13) r.w.s. 144B is beyond upper time limit provided u/s 153(1) and Section 153(4), then said order is beyond limitation period: ITAT (See Breaking News)

TP - Upper time limit for passing final assessment order u/s 143(3) r.w.s. 144C(13) r.w.s. 144B, is governed by provisions of Section 153(1) and Section 153(4): ITAT (See Breaking News)

TII SEARCH

Home >>


Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market By TII News Service Feb 27, 2018 , New Delhi
A.P. (DIR Series) CIRCULAR NO 18/RBI., Dated: February 26, 2018 Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market Attention of Authorized Dealers Category - I (AD Category - I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA.25/RB-2000 dated May 3, 2000), as amended from time to time, A.P. (DIR Series) Circular No. 90 dated March 31, 2015 relating to participation of a person resident in India in the Exchange traded currency derivatives (ETCD) market, A.P. (DIR Series) Circular No. 91 dated March 31, 2015 relating to participation of a Foreign Portfolio Investor (FPI) in the ETCD market. 2. Currently, persons resident in India and FPIs are allowed to take a long (bought) or short (sold) position in USD-INR upto USD 15 million per exchange without having to establish existence of underlying exposure. In addition, residents & FPIs are allowed to take long or short positions in EUR-INR, GBP-INR and JPY-INR pairs, all put together, upto USD 5 million equivalent per exchange without having to establish existence of any underlying exposure. 3. It has now been decided to permit persons resident in India and FPIs to take positions (long or short), without having to establish existence of underlying exposure, upto a single limit of USD 100 million equivalent across all currency pairs involving INR, put together, and combined across all exchanges. 4. The onus of complying with the provisions of this circular rests with the participant in the ETCD market and in case of any contravention the participant shall be liable to any action that may be warranted as per the provisions of Foreign Exchange Management Act, 1999 and the regulations, directions, etc. issued thereunder. These limits shall also be monitored by the exchanges, and breaches, if any, may be reported to the Reserve Bank of India. 5. All other operational guidelines, terms and conditions shall remain unchanged. 6. This circular has been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions/approvals, if any, required under any other law. [RBI/2017-18/134] T Rabi Sankar Chief General Manager

INTL TAXATION	INTL MISC	TP	FDI	LIBRARY	VISA	BIPA	NRI	TII
DTAA Circulars (I-T Act, 1922) Limited Treaties Other Treaties TIEAs Notifications Circulars Relevant Sections of I-T Rules,1962 Instructions Administrative Orders DRP Panel I-T Act, 1961 MLI Relevant Portion of I-T Act,1922 GAAR MAP	OECD Conventions Draft Guidelines DTC Bill Committee Reports FATCA Intl-Taxation Finance Acts Manual on EoI UN Model Taxation Miscellaneous Cost Inflation Index Union Budget Information Security Guidelines	APA Annual Report APA Rules Miscellaneous Relevant Sections of Act Instructions Circulars Notifications Draft Notifications Forms TP Rules APA FAQ UN Manual on TP Safe Harbour Rules US Transfer Pricing	FEMA Act Exchange Manual Fema Notifications Master Circulars Press Notes Rules FDI Circulars RBI Circulars Reports FDI Approved RBI Other Notifications FIPB Review FEO Act	INTELLECTUAL PROPERTY CBR Act NBFC Report Black Money Act PMLA Instruction PMLA Bill FM Budget Speeches Multimodal Transportation Vienna Convention EXIM Bank LoC Manufacturing Policy FTDR Act, 1992 White Paper on Black Money Posting Policy PMLA Cases Transfer of Property MCA Circular Limitation Act	Type of Visa SSAs EPFO Acts FAQs Rules Guidelines Tourist Visa Notifications	Arbitration Model Text Agreements	Relevant Portion of I-T Act I-T Rules, 1962 Circulars MISC Notification	About Us Contact Us


A Taxindiaonline Website. Copyright © 2010-2025 \| Privacy Policy \| Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.

TIOL GROUP WEBSITES