Regulatory Alerts2026-06-08
Added · Updated
Exclusion of Swap Positions from NOP-INR Calculation for AD Cat-I Banks
Authorised Dealer Category-I banks are permitted to exclude swap positions arising from FCNR (B) deposits, External Commercial Borrowings, and Overseas Foreign Currency Borrowings when calculating their Net Open Position in Indian Rupees. This exclusion applies provided the banks ensure compliance with the provisions of A.P. (DIR Series) Circular No. 24 dated March 27, 2026. The directive is issued under Sections 10(4), 11(1), and 11(2) of the FEMA, 1999.
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