RBI Mandates Reporting of Global INR Derivative Deals by 2028

  • Blog|News|FEMA & Banking|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 29 April, 2026

Latest from Taxmann

RBI INR derivative reporting

Circular No. RBI/2026-27/38 A.P. (DIR Series) Circular No. 08 dated 27.04.2026

The Reserve Bank of India (RBI) has mandated Authorised Dealer (AD) Category-I banks to report all INR-based over-the-counter (OTC) derivative transactions to the Clearing Corporation of India Ltd. (CCIL) to enhance market transparency and oversight.

1. Scope of Reporting

Covers:

  • All INR-based OTC derivative deals
  • Transactions undertaken:
    1. Domestically, and
    2. Abroad by group entities of AD banks
  • Includes both:
    1. Deliverable contracts
    2. Non-deliverable contracts

2. Exemption for Small Transactions

  • Transactions with value Up to USD 1 million
  • Are exempt from reporting requirements

3. Reporting Timeline

Banks must:

  • Submit key transaction details within 2 working days
  • From the date of the transaction

4. Phased Implementation

The reporting framework will be:

  • Implemented in phases
  • Fully operational by 2028

5. Objective of the Framework

The mandate aims to:

  • Improve transparency in OTC derivatives market
  • Enable better risk monitoring and data aggregation
  • Strengthen regulatory oversight and financial stability

6. Conclusion

This initiative marks a significant step towards centralised reporting and enhanced supervision of INR-based derivatives, ensuring a more transparent and resilient financial market ecosystem.

Click Here To Read The Full Circular

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied

Leave a Reply

Your email address will not be published. Required fields are marked *

«
»

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied