As per RBI/2011-12/300, A.P. (DIR Series) Circular No. 58, dated December 15, 2011 the Reserve Bank of India (RBI) has suggested some measures regarding risks management and inter banks dealings occurring in India.
RBI has sought the attention of Authorised Dealers Category – I (AD Category – I) banks to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 [Notification No.FEMA/25/RB-2000 dated May 3, 2000] and A.P.(DIR Series) Circular No.32 dated December 28, 2010, as amended from time to time.