The Reserve Bank of India has issued an A.P. (DIR Series) circular to Authorised Dealer Category-I banks amending its Master Direction on non-resident investment in debt instruments, and published an updated consolidated version of the direction. The updated Master Direction consolidates RBI instructions on investments in debt instruments by Non-Resident Indians and on offering debt instruments acquired under the Foreign Exchange Management (Debt Instruments) Regulations, 2019 as collateral to recognised stock exchanges in India for transactions in exchange traded derivative contracts. AD Category-I banks have been asked to bring the contents to the attention of their constituents and customers; the directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
Reserve Bank of India 2026-04-10
Reserve Bank of India updates master direction on non-resident debt investments and use of debt as collateral for exchange-traded derivatives
The Reserve Bank of India has amended and reissued its consolidated Master Direction on non-resident investment in debt instruments via an A.P. (DIR Series) circular to Authorised Dealer Category-I banks. The updated direction covers investments in debt instruments by Non-Resident Indians and their use as collateral with recognised Indian stock exchanges for exchange traded derivative contracts, and is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.