New Delhi, April 27 -- The Reserve Bank of India (RBI) has asked banks to report all overseas foreign exchange derivatives transactions involving the Indian rupee undertaken by their related entities, as it aims to improve price discovery, enhance transparency, and curb speculative activity.

In its final guidelines on reporting of offshore rupee derivatives trades, the RBI said that all authorized dealer category-I banks must report such transactions to the Clearing Corp. of India Ltd (CCIL). The directions build on the central bank's broader push to improve transparency in over-the-counter (OTC) derivatives markets. Authorized dealer category-I banks are commercial banks licensed by the RBI to carry out a comprehensive range of foreign ...