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Apr 21, 2026
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RBI partially rolls back restrictions on trades in forex market; $100-mn open position cap remains
The Reserve Bank of India (RBI) on Monday partially rolled back some of the restrictions imposed on trades in the offshore non-deliverable forwards (NDF) market.
In a notification, the central bank said it has withdrawn its earlier circular that barred banks from offering certain derivative contracts to resident and non-resident users. Banks are now also permitted to rebook or cancel such contracts, with immediate effect.
Restrictions, however, remain in place for related-party transactions. Banks will not be allowed to offer derivative contracts to related parties, except for the cancellation or rollover of existing contracts.
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