The RBI, makes amendment w.r.t legal framework for enforceability of bilateral netting of qualified financial contracts (QFC). Earlier through vide Notification no. FMRD.DIRD.2/14.03.043/2020-21 dated March 9, 2021, notified (a) “derivatives”; and (b) “repo” and “reverse repo” transactions as a QFC. Accordingly, selected instructions contained in the Directions have been modified appropriately. This circular is applicable to All Standalone Primary Dealers, Primary (Urban) Co-operative Banks, etcThe RBI, makes amendment w.r.t legal framework for enforceability of bilateral netting of qualified financial contracts (QFC). Earlier through vide Notification no. FMRD.DIRD.2/14.03.043/2020-21 dated March 9, 2021, notified (a) “derivatives”; and (b) “repo” and “reverse repo” transactions as a QFC. Accordingly, selected instructions contained in the Directions have been modified appropriately. This circular is applicable to All Standalone Primary Dealers, Primary (Urban) Co-operative Banks, etctaxmann.com Latest Statutory HappeningsRead More