Current Affairs · Banking Regulation & Financial Markets
Regarding the phased reporting targets and exemption criteria for Authorised Dealer Category-I (AD Cat-I) Banks under the Draft Directions on Reporting Offshore INR Derivative Transactions, which of the following statements is/are correct? 1. Under the specific exemption criteria, AD Cat-I Banks are not required to report back-to-back transactions, and they may exclude contracts with a notional value of up to USD 1 million. 2. The framework establishes phased reporting targets, mandating a minimum of 70% transaction coverage within 12 months and 80% coverage within 18 months. 3. To ensure complete regulatory oversight, banks are mandated to achieve a minimum of 100% coverage of all offshore INR derivative transactions within 24 months. Select the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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Correct answer
1 and 2 only
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