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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
On September 21, 2026, RBI issued the Reserve Bank of India (Commercial Banks – Minimum Capital Requirements for Market Risk) Directions, 2026 (Ref: RBI/DOR/2026-27/472), replacing Section D of the 2025 Capital Adequacy Directions from April 1, 2027. This guide covers the Simplified Standardised Approach (SSA), internal model approvals, GIRR, equity risk, forex risk, and bank compliance timelines.
RBI issues Directions on Minimum Capital Requirements for Market Risk under Basel III for Commercial Banks
21 September 2026Eff. 1 April 202732 min
The RBI has issued five Amendment Directions dated June 8, 2026 granting CRR and SLR exemptions on fresh US Dollar FCNR(B) deposits of 3–5 year tenor mobilised between June 8 and September 30, 2026. The measure aims to attract NRI deposits, strengthen forex reserves, and support rupee stability.
10 June 202625 min
RBI’s Foreign Exchange Management (Authorised Persons) Regulations, 2026 (FEMA 401/2026) overhaul India’s forex authorisation regime with a three‑tier AD framework, stricter fit‑and‑proper and turnover rules, PRAVAAH‑based online applications and a new statutory appeal mechanism.
Notification No. FEMA 401/2026-RB dated April 30, 2026 — Foreign Exchange Management (Authorised Persons) Regulations, 2026. Published in the Gazette of India Extraordinary, Part III — Section 4, CG-MH-E-06052026-272222.
13 May 2026Eff. 6 May 202623 min
SEBI allowed net settlement of funds for FPIs in cash market for outright transactions only. FPIs now pay/receive only net fund obligation instead of gross settlement, reducing funding costs, liquidity pressure, forex slippage, and improving operational efficiency.
Source Name: SEBI Circular – Framework for Net Settlement of Funds for Transactions Done by Foreign Portfolio Investors (FPIs) in Cash Market
26 April 2026Eff. 31 December 20264 min