|
RBI/2026-27/101 June 8, 2026 To, All Authorised Dealer Category-I Banks Madam/Sir, NOP-INR position of Authorised Dealer Category-I banks Attention of Authorised Dealer Category (AD Cat)-I banks is 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’. 2. AD Cat-I banks may exclude the swap positions arising out of 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. 3. 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) |
