RBI amends the Hedging of Commodity Price Risk and Freight Risk in Overseas Markets Directions, 2018

Jan 16, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Reserve Bank of India (RBI) on January 15, 2020, has issued a Notification in order to amend the Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018, which was issued vide A.P. (DIR Series) Circular No. 19 dated March 12, 2018 under the Foreign Exchange Management Act, 1999.

Para 10 of the Directions related to “Report to Reserve Bank” stands substituted, stating that the banks shall submit a quarterly report to the Chief General Manager, Financial Markets Regulation Department, Reserve Bank of India through Extensible Business Reporting Language (XBRL) accessible at https://xbrl.rbi.org.in/orfsxbrl/ in the format provided in Annexure I and in case of no transactions, a “Nil” report shall be submitted by the bank.

[Notification No. A.P. (DIR Series) Circular No. 16]

 

 

 


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.