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NotificationRBI NotifTuesday, 22 September 2026

Novation of OTC Derivative Contracts

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Official government notification — a formal executive order that operationalises policy decisions. Carries legal weight and specifies rules, dates, exemptions, or procedural requirements.

Summary

RBI notification: Novation of OTC Derivative Contracts

Key Facts

TypeNotification
SourceRBI Notifications
PublishedTuesday, 22 September 2026
Affected Population1.4 billion citizens, 63 million MSMEs

Key Numbers

GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg

Key Authorities

Ministry of FinanceRBISEBIDEA

Key Stakeholders

TaxpayersBanks & NBFCsInvestors

Government Context

NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight

Amendment History

20 changes recorded for this policy.

DescriptionFriday, 25 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionFriday, 25 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionSaturday, 26 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSunday, 27 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionSunday, 27 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSunday, 27 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionSunday, 27 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSunday, 27 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI finalises novation rules for OTC derivative contracts across foreign exchange, interest rate, government securities and credit derivatives.
DescriptionSunday, 27 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionSunday, 27 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionMonday, 28 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionTuesday, 29 September 2026via policyradar
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of...
DescriptionWednesday, 30 September 2026via rbi
RBI notification: Novation of OTC Derivative Contracts
RBI/2026-27/263 FMRD.DIRD.No.04/14.03.066/2026-27 September 22, 2026 To All Eligible Market Participants Madam / Sir, Novation of OTC Derivative Contracts Please refer to the draft Reserve Bank of India (Novation of OTC Derivative Contracts) Directions, 2025, issued vide press release dated July 09, 2025. 2. Based on the feedback received, the instructions related to the OTC derivative contracts have been finalised. Statement on the major feedback received is provided in the Annex. 3. With a vie

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