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Informist, Friday, Dec. 27, 2024

 

MUMBAI – The Reserve Bank of India has mandated banks to report all over-the-counter transactions in gold derivatives undertaken by them and customers in domestic markets, International Financial Services Centre and outside India to the trade repository of Clearing Corp. of India Ltd. with effect from Feb. 01.

 

These transactions will have to be notified to the trade repository before 1200 IST of the following business day, the RBI said in a notification.

As a one-time measure, to ensure the completeness of data, banks will have to report all matured and outstanding over-the-counter transactions in gold derivatives in the domestic markets, IFSC and outside India undertaken by them and customers from Apr. 15 to the trade repository by the end of February.

 

Banks will also have to submit a quarterly report on transactions in gold derivatives undertaken by them and their customers at exchanges in the International Financial Service Centre and overseas to the Reserve Bank within ten days of the succeeding quarter, commencing from the quarter ending Dec. 31.  End

 

End

Reported by Kshipra Petkar

Edited by Saji George Titus

 

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