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    Question

    Which bank has executed its first non-deliverable forex

    derivative transaction with Reliance Industries, after the Reserve Bank of India allowed such transactions for resident Indians?
    A DBS Bank India Correct Answer Incorrect Answer
    B HSBC India Correct Answer Incorrect Answer
    C Deutsche Bank Correct Answer Incorrect Answer
    D Citi Bank Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    HSBC India has executed its first non-deliverable forex derivative transaction with Reliance Industries, after the Reserve Bank of India allowed such transactions for resident Indians.  The RBI‘s decision to allow banks to offer non-deliverable foreign exchange derivative contracts involving Indian rupee to resident entities is expected to align the rupee hedging curves in onshore and offshore markets.

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