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Introduction of Interest Rate Options in India- (Reserve Bank of India) (29 Dec 2016)



As announced in the fourth bi-monthly Monetary Policy Statement 2016-17, it has been decided to introduce Interest Rate Options in India. The Reserve Bank of India has accordingly issued a Notification No. FMRD.DIRD. 11/2016 dated December 28, 2016 giving details of the directions for the introduction of Interest Rate Option. Eligible market participants are permitted to take positions in Interest Rate Options for their own balance sheet management and for market making purposes. Participants, who are eligible as market makers are, however, advised to ensure that appropriate infrastructure and risk management systems are in place. These directions have been issued under Section 45 W of Chapter III D of the Reserve Bank of India Act, 1934. The directions shall be effective from January 31, 2017.


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