NOP-INR Position of Authorised Dealer Category-I Banks
RBI notification RBI/2026-27/101 · 08 Jun 2026
RBI notification RBI/2026-27/101 · 08 Jun 2026
Summary
Check the official recordAuthorised Dealer Category-I banks may exclude specific swap positions from their Net Open Position in Indian Rupees. This applies to swap positions from FCNR (B) deposits, External Commercial Borrowings, and Overseas Foreign Currency Borrowings. Banks must raise these funds under the circulars dated June 8, 2026. Banks must comply with the provisions of the A.P. (DIR Series) Circular No. 24 dated March 27, 2026.
What you must do
Key dates
Who is affected
RBI/2026-27/101 A.P. (DIR Series) Circular No. 13 June 8, 2026
To, All Authorised Dealer Category-I Banks
Madam/Sir,
NOP-INR position of Authorised Dealer Category-I banks
Attention of Authorised Dealer Category (AD Cat)-I banks is invited to circulars FMOD.MAOG.No.S-56/01.06.016/2026-27 dated June 8, 2026, on ‘Swap Facility for FCNR (B) Deposits’ and FMOD.MAOG.No.S-57/01.06.016/2026-27 dated June 8, 2026, on ‘Swap Facility for External Commercial Borrowings and Overseas Foreign Currency Borrowings’.
AD Cat-I banks may exclude the swap positions arising out of FCNR (B) deposits, External Commercial Borrowings and Overseas Foreign Currency Borrowings raised in terms of the aforesaid circulars while ensuring compliance with the provisions of the A.P. (DIR Series) Circular No. 24 dated March 27, 2026.
The directions contained in this circular have been issued under Sections 10(4), 11(1) and 11(2) of the FEMA, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Dimple Bhandia) Chief General Manager