This website is only for informational purposes. Visitors are requested to note that the information is intended to be correct, complete, and up-to-date. Juris Corp does not warrant that the information contained on this website is accurate or complete, and disclaims any and all liability to any person for any loss or damage caused by errors or omissions, whether such errors or omissions result from negligence, accident or any other cause.
This website is not intended to be a source of advertising or solicitation. The reader must not consider the information contained herein to be an invitation for a lawyer-client relationship, must not rely on information provided herein and must seek independent advice. Transmission, receipt or use of any information on this website does not constitute or create a lawyer-client relationship. No recipients of content from this website should act or refrain from acting, based upon any or all of the contents of this website.
Furthermore, Juris Corp does not wish to represent anyone desiring representation based solely upon viewing this web site. Finally, the reader is warned that the use of e-mail for confidential or sensitive information is susceptible to inherent risks of lack of confidentiality associated with sending e-mail over the internet.
By clicking on the "I understand and agree" button below, the user acknowledges that:
We are not liable for any consequence of any action taken by the user relying on information provided under this website. In cases where the user has any legal issues, he/she must seek independent legal advice.
On 5th August 2022, the Reserve Bank of India (“RBI”) had proposed to permit Standalone Primary Dealers (“SPDs”) to offer foreign exchange market making facilities to users. A circular in this regard has been issued by the RBI on 11th October 2022.
1) SPDs can now offer all FX market making facilities to all the users.
2) To offer such FX products, SPDs will be required to get an authorisation from RBI.
3) SPDs will have to comply with the Master Direction on:
(a) Reserve Bank of India (Market Maker in OTC Derivatives) Directions 2021; and
(b) Risk Management and Interbank Dealings.
4) SPDs will also need to comply with the Internal Control Guidelines.
Separately, effective 1st January 2023, all transactions involving Rupee which is undertaken globally by the related entities of SPDs will have to be reported on CCIL’s trade repository before 12:00 noon of the business day following the date of the transaction.
For further details, please see: