Kerala High Court Sets Aside Order Transferring School Playground, Citing Inadequate Consideration  ||  Delhi High Court Directs Removal of Unauthorised Vendors, Declares Nehru Place a No-Vending Zone  ||  Kerala High Court: SHO Cannot Order Surrender of Firearms over Phone Calls Before Elections  ||  Kerala High Court: SHO Cannot Order Surrender of Firearms over Phone Calls Before Elections  ||  Chhattisgarh HC Refuses Bail to Aide of Former Congress Treasurer in ?540 Crore Coal Levy Case  ||  Kerala HC Rejects Plea Against Appointment of VS Achuthanandan’s Son as IHRD Director-In-Charge  ||  Rajasthan HC: Transgender Bill May Make Gender Identity Rights Dependent on State Approval  ||  J&K&L HC: Bail is Not Absolute For Juveniles in Heinous Cases and Can be Denied to Serve Justice  ||  Delhi HC: Expired Driving Licenses Do Not Enjoy Deemed Continuity After 2019 MV Act Amendment  ||  MP High Court: Ex-Gratia Payments are Dependents’ Last Hope and Rules Should be Applied Liberally    

Reserve Bank of India renews its Statement of Commitment to the FX Global Code- (Reserve Bank of India) (20 Jul 2022)

MANU/RPRL/0306/2022

Banking

The Reserve Bank of India (RBI) has signed its renewed Statement of Commitment (SoC) to the FX Global Code ("Code"). The Code, which was initially launched on May 25, 2017, was subsequently reviewed holistically and the updated Code was published by Global FX Committee on July 15, 2021. The Code is a compilation of best market practices, formulated by Central Banks and market participants, developed under the auspices of Bank for International Settlements (BIS), Basel. The Code is applicable to the Wholesale FX market participants covering sell-side, buy-side and financial intermediaries, and is voluntary in nature. The Code does not impose any legal or regulatory obligation and is intended to be a supplement to the local laws, rules and regulations. The Code is currently being implemented globally by the Global FX Committee (GFXC) in co-ordination with the Local FX Committee (LFXC) in each jurisdiction. RBI is a member of GFXC. RBI, along with four major Central Banks, had welcomed the publication of the Code through joint media release dated May 25, 2017 (Joint Media Release: BOK, HKMA, MAS, RBA and RBI welcome the publication of the FX Global Code). Later, RBI had issued its Statement of Commitment on April 18, 2019.

RBI continues to support the principles of good practices within the Code. RBI had also facilitated the formation of India Foreign Exchange Committee (IFXC) to promote adoption and adherence of the Code among FX market participants in India. The Code and other related information is available at: http://www.globalfxc.org

Tags : RENEWAL   STATEMENT   FX GLOBAL CODE  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved