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JC - Legal Updates - PDs at par with AD Banks-FX market making facilities

Legal Updates

05 Aug 2022

PDs at par with AD Banks-FX market making facilities

It is proposed to enable Standalone Primary Dealers to,

(a)      offer all foreign exchange market-making facilities as currently permitted to Category-I Authorised Dealers; and

(b)      deal in offshore FCY Settled Overnight Indexed Swaps with non-residents and other market makers.

This was announced vide the Statement on Developmental and Regulatory Policies issued today by the Reserve Bank of India.

We are tracking this and will circulate notification once issued.


For any further information, please contact Ms. Smrithi Nair (smrithi.nair@jclex.com) or Ms. Mahak Saboo (mahak.saboo@jclex.com).