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August 2013

A. P. (DIR Series) Circular No. 121 dated June 26, 2013

By Gaurang Gandhi, Chartered Accountant

Reading Time 1 mins

Risk Management and Inter Bank Dealings

Presently, a Foreign Institutional Investor (FII) is permitted to hedge the currency risk on the market value of their entire investment in equity and/ or debt in India.

This circular clarifies that if a FII wants to hedge the exposure of one of its sub-account holders it must produce a clear mandate from the sub-account holder indicating the latter’s (sub-account holders) intention to enter into the derivative transaction. Banks must also verify the mandate as well as the eligibility of the contract with respect to the market value of the securities held in the concerned sub-account.

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August 2013

A. P. (DIR Series) Circular No. 121 dated June 26, 2013

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A. P. (DIR Series) Circular No. 120 dated June 26, 2013

A. P. (DIR Series) Circular No. 122 dated June 27, 2013

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August 2013

A. P. (DIR Series) Circular No. 121 dated June 26, 2013

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A. P. (DIR Series) Circular No. 120 dated June 26, 2013

A. P. (DIR Series) Circular No. 122 dated June 27, 2013