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ANYTIME NEWS NETWORK . The Reserve Bank of India (RBI) has released draft Directions on Reporting Instructions for Authorised Dealer Category–I (AD–I) Banks and invited comments from market participants and stakeholders by March 9, 2026.
Push for Greater Market Transparency
As part of its ongoing efforts to enhance transparency in OTC foreign exchange, interest rate, and credit derivatives markets, RBI currently mandates reporting of OTC derivative transactions to the trade repository of Clearing Corporation of India Limited (CCIL).
However, a significant portion of offshore Rupee derivative transactions remains unreported, limiting market transparency. Earlier steps included mandatory global reporting of Rupee derivative transactions by standalone primary dealers (October 2022) and Indian banks reporting global Rupee interest rate derivatives (December 2025).
Proposal to Cover INR FX Derivatives Globally
Under the new proposal, all AD Category–I banks will be required to report foreign exchange derivative transactions involving INR undertaken globally by their related parties. RBI believes this move will improve transparency in Rupee derivative markets and enable better pricing decisions.
Draft Directions have been issued for public consultation.
