NEW DELHI, March 27 -- The Government of India issued the following FEMA circular:
RBI/2025-26/252
A.P. (DIR Series) Circular No. 24
March 27, 2026
To,
All Authorised Persons
Madam/Sir,
NOP-INR position of Authorised Dealers
Attention of Authorised Dealers is invited to the Master Direction - Risk Management and Inter-Bank Dealings dated July 05, 2016, as amended from time to time. In terms of paragraph A (ii) (a) of Annex I of the Master Direction, the Reserve Bank may prescribe limits for open positions involving Rupee (NOP-INR) for exchange rate management, depending on market conditions.
2. Accordingly, it has now been decided that Authorised Dealers shall ensure that their NOP-INR positions in the onshore deliverable market sh...