RegAlert2026-06-23
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Open positions of Authorised Dealer Category-I banks
Authorised Dealer Category-I banks must exclude positions arising from hedged transactions related to FCNR (B) deposits, External Commercial Borrowings, and Overseas Foreign Currency Borrowings when computing their net overnight open position. This partial modification applies to the A.P. (DIR Series) Circular No. 13 dated June 8, 2026, while requiring compliance with the A.P. (DIR Series) Circular No. 24 dated March 27, 2026.
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( 257 kb ) Open positions of Authorised Dealer Category-I banks
RBI/2026-27/153 A.P. (DIR Series) Circular No.16
June 23, 2026
To,
All Authorised Dealer Category-I Banks
Madam/Sir,
Open positions of Authorised Dealer Category-I banks
Attention of Authorised Dealer Category (AD Cat)-I banks is invited to the A.P. (DIR Series) Circular No. 13 dated June 8, 2026 and the Master Direction – Risk Management and Inter-Bank Dealings dated July 05, 2016 , as amended from time to time. Attention of AD Cat-I banks is also invited to circulars FMOD.MAOG.No.S-56/01.06.016/2026-27 dated June 8, 2026 on ‘Swap Facility for FCNR (B) Deposits’ and FMOD.MAOG.No.S-57/01.06.016/2026-27 dated June 8, 2026 on ‘Swap Facility for External Commercial Borrowings and Overseas Foreign Currency Borrowings’.
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In partial modification of the A.P. (DIR Series) Circular No. 13 dated June 8, 2026 on ‘NOP-INR position of Authorised Dealer Category-I banks’, it has been decided that AD Cat-I banks shall exclude the positions arising out of hedged transactions related to FCNR (B) deposits, External Commercial Borrowings and Overseas Foreign Currency Borrowings raised in terms of the aforesaid circulars, while ensuring compliance with the provisions of the A.P. (DIR Series) Circular No. 24 dated March 27, 2026 and for computation of net overnight open position in terms of the aforesaid Master Direction .
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The directions contained in this circular have been issued under Sections 10(4), 11(1) and 11(2) of the FEMA, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Dimple Bhandia) Chief General Manager
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This document amends: Exclusion of Swap Positions from NOP-INR Calculation for AD Cat-I Banks
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Source: Reserve Bank of India — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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