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PR No.279/2007

 

Clarification

 

Clarifications have been sought on para 1 of the Proposed Measures in the draft discussion paper on Overseas Derivatives Instruments (ODIs), with Indian Exchange Traded Derivatives as underlying.

With regard to the above, it is made clear that there is no proposed bar on ODI contracts, expiring this month or in the following months, being renewed, provided the renewal does not go beyond 18 months. 

It is further made clear that this proposal does not in any manner seek to restrict renewal or rollover of Indian Exchange Traded Derivative Contracts by the FIIs.

Mumbai

October 17, 2007