Business Daily from THE HINDU group of publications
Sunday, Aug 30, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Sunday, Aug 30, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Derivatives Markets Interest rate futures: Curbs on banks Mumbai, Aug 29 Banks cannot undertake transactions in interest rate futures (IRFs) on behalf of their clients, the Reserve Bank of India has said in a notification. What this means is that the RBI wants banks to restrict themselves to taking positions in IRFs only on their own books and not on behalf of their constituents. The central bank’s IRF guidelines will also be applicable to overseas branches of Indian banks. Unlike the restriction imposed on banks vis-À-vis IRFs, the RBI has allowed them to take positions in the currency futures market on behalf of their clients. “The IRF notification clearly shows that the RBI wants banks to get accustomed to IRFs before allowing them to take positions on behalf of their clients,” said a banker. – Our Bureau NSE to launch interest rate futures from Aug 31 BSE gets nod for interest rate futures More Stories on : Derivatives Markets | Interest Rates
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