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SEBI Circular — Revision of limits relating to requirement of underlying exposure for currency derivatives contracts (official sebi.gov.in)
MandatorySEBI Revision of Limits for Currency Derivatives Contracts 2026: USD 5 Million Single Limit Without Underlying Exposure
SEBI's 5 Nov 2026 circular cuts the no-underlying-exposure limit for INR currency derivatives from USD 100 million to USD 5 million, across all INR pairs and exchanges.
SEBI Circular — Revision of limits relating to requirement of underlying exposure for currency derivatives contracts (official sebi.gov.in)
5 November 2026Eff. 5 November 202616 min
CBIC Circular No. 263/09/2026-GST (official CBIC Tax Information Portal PDF)
CBIC Circular 263/2026: Export Payment Rules Clarified — SNRR, INR Settlement, Set-Off and Realisation
CBIC Circular 263/2026-GST clarifies when export payments count: convertible forex or repatriable INR accounts, SNRR/NRE for stockbrokers, set-off, and goods realisation rules.
CBIC Circular No. 263/09/2026-GST (official CBIC Tax Information Portal PDF)
28 October 2026Eff. 26 October 202611 min
e-Gazette of India — CBDT Notification No. 136/2026 (S.O. 5694(E))
CBDT Exempts TDS on Interest from NDB's Maharajah INR Bonds: Notification 136/2026
CBDT Notification 136/2026 exempts TDS on interest paid by the New Development Bank on Maharajah INR Bonds issued from tax year 2026-27, for resident and FII holders.
e-Gazette of India — CBDT Notification No. 136/2026 (S.O. 5694(E))
21 October 202612 min
Risk Management and Inter-Bank Dealings
MandatoryRBI Circular 27: INR NDDCs for Non-Residents Only for Hedging, and 20% FERR on Banks' Own Hedges (October 2026)
RBI's 12 Oct 2026 Circular 27 limits INR non-deliverable derivatives for non-residents to hedging and requires Authorised Dealers to keep a 20% cash FERR on contracts hedging their own assets and liabilities.
Risk Management and Inter-Bank Dealings
13 October 2026Eff. 12 October 202610 min
RBI Announces Regulatory Measures for the Foreign Exchange Market
MandatoryRBI Forex Derivative Curbs: USD 5 Million Limit, 20% FERR and Rebooking Ban (October 2026)
On 10 Oct 2026 the RBI cut the no-underlying forex derivative limit to USD 5 million, barred rebooking cancelled INR contracts, and introduced a 20% cash FERR on hedges above USD 2 million. Effective immediately.
RBI Announces Regulatory Measures for the Foreign Exchange Market
10 October 2026Eff. 10 October 202614 min
Securities and Exchange Board of India (Foreign Venture Capital Investors) (Amendment) Regulations, 2026
SEBI (Foreign Venture Capital Investors) (Amendment) Regulations, 2026 — FVCI Fees Shift from USD to INR
SEBI Notification SEBI/LAD-NRO/GN/2026/309 dated 3 July 2026 redenominates FVCI registration, renewal, and late fees from USD to INR equivalents and prescribes a new 5-working-day DDP remittance timeline. Effective 30 December 2026.
Securities and Exchange Board of India (Foreign Venture Capital Investors) (Amendment) Regulations, 2026
13 July 2026Eff. 30 December 20269 min
Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2026
SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2026 — FPI Fees Shift from USD to INR
SEBI Notification SEBI/LAD-NRO/GN/2026/310 dated 3 July 2026 converts FPI registration, application, and other fees from USD to INR equivalents and adds a new DDP fee-remittance procedure. Most changes take effect 30 December 2026; the First Schedule change is immediate.
Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2026
11 July 2026Eff. 30 December 202610 min