MUMBAI, India, Dec. 8 -- Reserve Bank of India issued the following press release:
The Reserve Bank issued the regulatory framework for Rupee Interest Rate Derivative (IRD) in June 2019. Since then, the market for interest rate derivatives has developed with the availability of a larger bouquet of IRD products and increasing participation by residents and non-residents. A growing reliance of the financial system on market-based finance and external benchmarking of loans also necessitates a more developed IRD market. Accordingly, a comprehensive review of the Directions was undertaken and the draft Master Direction - Reserve Bank of India (Rupee Interest Rate Derivatives) Directions, 2025 was published on June 16, 2025, seeking feedback fro...