| Date: |
15-01-2020
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| Notification No: |
A.P. (DIR Series) Circular No. 16
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| Issuing Authority: |
RBI
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| Type: |
Circular
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| File No: |
RBI/2019-20/143 |
| Subject: |
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment
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RBI/2019-20/143
A.P. (DIR Series) Circular No. 16
January 15, 2020
All Authorised Dealer Category – I Banks
Madam / Sir,
Hedging of
Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank)
Directions, 2018 - Amendment
Please refer to Foreign Exchange Management
(Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification No. FEMA
25/RB-2000 dated May 3, 2000), as amended from time to time, and Hedging of
Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank)
Directions, 2018 (issued vide A.P. (DIR Series) Circular No. 19 dated March 12,
2018).
2. Para 10 of the Directions ibid shall be substituted with
following:
“10. Report to Reserve Bank - 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. In case of no transactions, a “Nil” report shall be submitted by the
bank.”
3. The directions contained in this circular have been issued
under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42
of 1999) and are without prejudice to permissions /approvals, if any, required
under any other law.
Yours faithfully,
(Saswat Mahapatra)
Deputy General Manager (O-i-C)
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