NOVATION OF OTC DERIVATIVE CONTRACTS

MUMBAI, India, Sept. 22 -- Reserve Bank of India issued the following notification:

RBI/2026-27/263

FMRD.DIRD.No.04/14.03.066/2026-27

September 22, 2026

To

All Eligible Market Participants

Madam / Sir,

Novation of OTC Derivative Contracts

Please refer to the draft Reserve Bank of India (Novation of OTC Derivative Contracts) Directions, 2025, issued vide press release dated July 09, 2025.

2. Based on the feedback received, the instructions related to the OTC derivative contracts have been finalised. Statement on the major feedback received is provided in the Annex (https://rbidocs.rbi.org.in/rdocs/content/pdfs/01Annex22092026.pdf).

3. With a view to consolidate circulars/instructions, the instructions have been inserted in the resp...