{"id":3740,"date":"2025-12-21T18:55:15","date_gmt":"2025-12-21T18:55:15","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=3740"},"modified":"2025-12-21T18:55:17","modified_gmt":"2025-12-21T18:55:17","slug":"rbi-master-direction-dated-08-12-2025-rbi-rupee-interest-rate-derivatives-directions","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/12\/21\/rbi-master-direction-dated-08-12-2025-rbi-rupee-interest-rate-derivatives-directions\/","title":{"rendered":"RBI Master Direction Dated 08\/12\/2025 &#8211; RBI Rupee Interest Rate Derivatives Directions\u00a0"},"content":{"rendered":"\n<p>The Directions govern the conduct of Interest Rate Derivatives (IRD) transactions in both over-the-counter (OTC) markets and on recognized stock exchanges, including Forward Rate Agreements, Interest Rate Swaps, Interest Rate Futures, caps, floors, collars, and swaptions. They define eligible participants, classify users into retail and non-retail, and set parameters for non- resident participation, including back-to-back arrangements and PVBP limits for hedging and other purposes. The Directions mandate reporting of all IRD transactions to the Trade Repository (CCIL), adherence to prudential norms, accounting standards, and risk management practices.\u00a0<\/p>\n\n\n\n<p><a href=\"https:\/\/rbidocs.rbi.org.in\/rdocs\/notification\/PDFs\/281MD4079EF84173847849A50F7A00FB229F5.PDF\"><em>(Link: RBI Master Direction Dated 08\/12\/2025)<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Directions govern the conduct of Interest Rate Derivatives (IRD) transactions in both over-the-counter (OTC) markets and on recognized stock [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[72,102],"tags":[],"class_list":["post-3740","post","type-post","status-publish","format-standard","hentry","category-rbi","category-master-directions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBI Master Direction Dated 08\/12\/2025 - RBI Rupee Interest Rate Derivatives Directions\u00a0 - Bhatia Bhola &amp; Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/12\/21\/rbi-master-direction-dated-08-12-2025-rbi-rupee-interest-rate-derivatives-directions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI Master Direction Dated 08\/12\/2025 - RBI Rupee Interest Rate Derivatives Directions\u00a0 - Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"og:description\" content=\"The Directions govern the conduct of Interest Rate Derivatives (IRD) transactions in both over-the-counter (OTC) markets and on recognized stock [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/12\/21\/rbi-master-direction-dated-08-12-2025-rbi-rupee-interest-rate-derivatives-directions\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola &amp; 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