RBI allows banks to take trading positions in IRF

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Mumbai, Oct 13 (UNI) The Reserve Bank of India today allowed banks to take trading positions in Interest Rate Futures (IRF).

Amending its guidelines issued in June 2003 on Exchange traded interest rate derivatives, the RBI said the new provision would also be applicable to overseas branches of Indian Banks.

The earlier guidelines allowed banks to transact in IRFs for the purpose of hedging the risk in their underlying investment portfolio.

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