Current Affairs · Banking & Financial Regulation
The Reserve Bank of India has issued Draft Directions aimed at enhancing transparency and risk monitoring in global forex markets by tracking offshore rupee (INR) derivative trades. Which one of the following combinations correctly identifies the statutory provisions under which these directions are issued and the mandatory timeline prescribed for reporting such transactions to the Trade Repository?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Payment and Settlement Systems Act, 2007, and FEMA, 1999; mandatory within seven working days
- 2Section 45IA of the RBI Act, 1934, and FEMA, 1999; mandatory within five working days
- 3Section 45W of the RBI Act, 1934, and FEMA, 1999; mandatory within two working days✓
- 4Section 45W of the RBI Act, 1934, and the Payment and Settlement Systems Act, 2007; strictly on the same day
Correct answer
Section 45W of the RBI Act, 1934, and FEMA, 1999; mandatory within two working days
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