RBI - Introduction of Interest Rate Futures- NBFCs

Introduction of Interest Rate Futures- NBFCs

RBI/2009-10/165
DNBS.PD.CC.No.161/3.10.01/ 2009-10
September 18, 2009
All NBFCs (excluding RNBCs)

Dear Sir

Introduction of Interest Rate Futures- NBFCs

Please refer to the Directions issued by the Reserve Bank of India in terms of Notification No. FMD. 1 /ED(VKS) - 2009 dated August 28, 2009, covering the framework for trading of Interest Rate Futures (IRFs) in recognized exchanges in India.

2. It has been decided that NBFCs may participate in the designated interest rate futures exchanges recognized by SEBI, as clients, subject to RBI / SEBI guidelines in the matter, for the purpose of hedging their underlying exposures.

3. NBFCs participating in IRF exchanges may submit the data in this regard half yearly, in the format enclosed, to the Regional office of the Department of Non-Banking Supervision in whose jurisdiction their company is registered, within a period of one month from the close of the half year.
Yours sincerely,
(A Narayana Rao)
Chief General Manager-in-Charge
Encl: as above
________________________________________
Interest Rate futures transactions for the purpose of hedging by NBFCs – Statement for the Half-year ended……….
Name of the NBFC:
Interest Rate Futures No. of transactions Notional principal amount in Rs
Short
Long

Authorised signatory