New Delhi, Feb. 17 -- The Reserve Bank of India (RBI) has released draft directions requiring banks to report offshore over-the-counter (OTC) foreign exchange derivative transactions involving the rupee undertaken by their related parties.

Stakeholders and market participants have been asked to submit feedback on the draft by March 9, 2026.

The move is aimed at improving transparency in derivative markets, particularly where offshore rupee contracts currently remain outside the reporting framework.

At present, market-makers report OTC foreign exchange, interest rate and credit derivative transactions to the trade repository of the Clearing Corporation of India Limited (CCIL).

However, the RBI noted that several offshore rupee derivati...