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      Question

      Under the RBI circular titled “Participation of

      Standalone Primary Dealers in Non-deliverable Rupee Derivative Markets”, Standalone Primary Dealers are permitted to transact in NDDCs only when they are authorised as:
      A Authorised Dealer Category–I Correct Answer Incorrect Answer
      B Authorised Dealer Category–II Correct Answer Incorrect Answer
      C Authorised Dealer Category–III Correct Answer Incorrect Answer
      D Authorised Dealer Category–IV Correct Answer Incorrect Answer
      E Registered Market Derivative Participants Correct Answer Incorrect Answer

      Solution

      According to the circular, expands eligibility to Standalone Primary Dealers (SPDs) authorised as AD Category–III. Earlier, only AD Cat-I banks with IFSC Banking Units could transact in NDDCs. The amendment inserts references to AD Cat-III SPDs across multiple paragraphs of the Master Direction, formally adding them as eligible participants.

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