Finance
Mr. BillionhairRBI's Bold Move: Banks Must Report Offshore ₹-Fx Deals
Folks, the Reserve Bank of India is making waves! They just announced draft rules for banks to report foreign exchange deals involving the rupee. If you're an AD Cat-I bank, get ready to spill the beans by March 9, 2026! This is going to be huge, folks! Everyone's talking about it, believe me!
few days ago | Anjali Kumari
Quick rundown
1.RBI issues draft directions for AD Cat-I banks.
2.Banks must report rupee derivatives globally.
3.Phased implementation for reporting thresholds.
4.Excludes exchange-traded derivatives and small contracts.
5.Comments on draft invited until March 9, 2026.
