The draft directions requires AD Cat-I banks to report all over-the-counter (OTC) foreign exchange derivative contracts involving the Indian Rupee (INR) undertaken globally by their offshore related parties to the Trade Repository (TR) of Clearing Corporation of India Ltd. (CCIL). While OTC derivatives already reported by market-makers improved transparency, offshore INR derivative transactions remained outside reporting requirements. Reporting excludes back-to-back transactions and small-value contracts up to USD 1 million. The comments/ feedback from stakeholders is invited.(Link: Draft Circular, Press Release Dated 16/02/2026)