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RBI curbs jolt rupee forwards as banks retreat from usual dollar bets

RBI curbs jolt rupee forwards as banks retreat from usual dollar bets

New RBI limits on banks’ net open rupee positions sparked sharp swings in dollar rupee forwards. The domestic and overseas rate gap widened early as banks expected to sell dollars locally, then narrowed quickly when banks shifted to a wait and watch stance. With expectations of possible RBI relief, the difference settled close to the near-Friday closing level.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI reverses key forex rules letting banks offer NDFs and rebook trades

RBI reverses key forex rules letting banks offer NDFs and rebook trades

The RBI has withdrawn its April 1 directive that limited banks from offering non-deliverable forward (NDF) contracts and prohibited rebooking of cancelled foreign exchange derivative trades. The change restores operational flexibility for lenders, enabling a smoother forex derivatives workflow and potentially improving market liquidity for hedging and trading.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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India to require reporting of offshore rupee trades despite lender pushback report reveals

India to require reporting of offshore rupee trades despite lender pushback report reveals

India is preparing a proposal that would require banks to report offshore rupee derivative trades, even as lenders push back against the plan, according to two sources. The move aims to boost transparency in a fast-growing offshore market that has intensified pressure on the rupee, potentially affecting how currency risks are tracked.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
SFIO widens probe into IndusInd Bank after ₹2000 crore derivatives irregularities

SFIO widens probe into IndusInd Bank after ₹2000 crore derivatives irregularities

The SFIO has expanded its investigation into IndusInd Bank’s derivatives portfolio, estimating irregularities linked to losses of around ₹2,000 crore. The probe also involves summoning major audit firms that worked with the bank over the past decade, after questioning former officials. Investigators will focus on corporate governance lapses and potential accounting discrepancies.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Groww executive says derivatives demand is resetting after FY25 regulatory shakeups

Groww executive says derivatives demand is resetting after FY25 regulatory shakeups

Groww’s Ishan Bansal says FY25 regulatory changes are forcing a structural reset in derivatives participation. While equity derivatives saw lower participation, he expects growth to come from a smaller yet steadier customer base, rising volatility, and a shifting product mix. Longer-term, expanding industry interest and higher per-user activity—especially among younger investors—could drive volumes again.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Oil spikes spark retail frenzy in crude derivatives as traders pile into short tenure trades

Oil spikes spark retail frenzy in crude derivatives as traders pile into short tenure trades

Global oil prices jumped after the US-Iran conflict, and Indian retail traders rushed into crude derivatives. March saw a sharp spike in futures and options volumes, even as trading tightened and margin requirements increased. Despite higher costs, traders leaned into short-tenure positions, turning volatility into rapid, high-frequency bets on crude moves.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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RBI bans rupee non deliverable derivatives for residents and non residents shaking forex hedges

RBI bans rupee non deliverable derivatives for residents and non residents shaking forex hedges

The Reserve Bank of India has directed authorised dealers to stop offering rupee non-deliverable derivative contracts to both resident and non-resident entities, including local companies. The move targets a specific forex hedging instrument and applies broadly across counterparties. Market players will now have to unwind or rework exposure strategies under the RBI’s instructions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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