Indian Banks Receive RBI Approval To Offer Rupee Derivatives To Clients
REGULATORS
The Reserve Bank of India (RBI) has agreed to allow banks to offer rupee derivatives to their corporate clients; however, permission will be given on a case by case basis by the RBI, say officials.
Sources close to the RBI say the central bank will permit banks to offer rupee derivatives provided it is satisfied with their structure. Banks will therefore need RBI approval for their products--the primary criteria being price transparency.
No formal circular specifying guidelines is expected, but
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