The Reserve Bank of India issued revised reporting instructions requiring Authorised Dealer Category-I (AD Cat-I) banks to report to the Clearing Corporation of India Ltd. (CCIL) Trade Repository all over-the-counter (OTC) foreign exchange derivative contracts involving the Indian Rupee (INR) undertaken globally by their related parties, expanding the existing trade repository reporting framework. The scope covers both deliverable and non-deliverable INR OTC foreign exchange derivatives undertaken by related parties in India and offshore. Related parties may also report their own transactions directly to CCIL. AD Cat-I banks are not required to report back-to-back transactions as defined in the RBI’s risk management master direction, or related-party transactions with other AD Cat-I banks in India where reporting already occurs under existing instructions, and they may opt out of reporting contracts with a notional of up to USD 1 million (or equivalent). A phased coverage approach applies: from 1 July 2027, AD Cat-I banks must report all INR FX derivative contracts undertaken by their parent (including parent branches), and must cover at least 70 percent of the notional value of INR FX derivative contracts undertaken by other related parties, rising to 80 percent from 1 January 2028 and to full coverage from 1 July 2028, with specified exclusions permitted for calculating the coverage ratios. Reports must include transaction elements necessary to provide meaningful information, such as notional value, counterparty, maturity date and currency, with the central counterparty reported as counterparty only for anonymous platform trades cleared by a central counterparty. Transactions should be reported preferably on trade date and in any case within two working days, using CCIL formats approved by the Reserve Bank.
Reserve Bank of India 2026-04-27
Reserve Bank of India requires AD Category-I banks to report global related-party INR OTC FX derivatives to CCIL trade repository
The Reserve Bank of India has expanded trade repository reporting requirements, directing Authorised Dealer Category-I banks to report to the Clearing Corporation of India Ltd. all over-the-counter Indian Rupee foreign exchange derivative contracts undertaken globally by their related parties, with certain exclusions and an option to omit contracts with a notional of up to USD 1 million. Reporting will be phased in, initially covering contracts of parent entities and progressively increasing coverage of other related-party contracts to full inclusion by July 2028, and must capture key transaction details within two working days using Reserve Bank-approved CCIL formats.