Delaware court denies McDougal postconviction relief motion

Delaware court denies McDougal postconviction relief motion

Revised Risk Management Directions for Authorised Dealers on INR Derivatives

RBI issued Circular No. 03 under A.P. (DIR Series) restricting Authorised Dealers from offering non-deliverable derivative contracts involving INR to any users. Deliverable FX derivatives remain permitted only where users do not hold offsetting non-deliverable positions. Rebooking of cancelled INR derivatives and related party transactions involving INR derivatives are also prohibited. Instructions are effective immediately under FEMA 1999.

Master Direction on Currency Exchange Procedures for Banks

The Reserve Bank of India issued a Master Direction consolidating all existing guidelines on the Facility for Exchange of Notes and Coins. The direction covers procedures for exchanging soiled, mutilated, and imperfect notes; coin distribution; grievance redressal; and monitoring requirements. All previous circulars listed in Annex II and earlier Master Circulars on the subject stand withdrawn from the effective date.

Master Direction on Counterfeit Notes – Detection, Reporting and Monitoring

The Reserve Bank of India issued a Master Direction establishing consolidated requirements for banks on counterfeit currency note detection, reporting, and monitoring. The Direction codifies existing instructions and adds procedural requirements for branch-level detection, customer authentication protocols, and reporting timelines to RBI and law enforcement authorities. All banks regulated by RBI must comply with these detection and reporting standards.

Master Direction on Currency Distribution Incentives and Penalties for Banks

The Reserve Bank of India has issued a Master Direction consolidating guidelines on incentives for currency distribution and exchange, along with penal provisions for bank branches and Currency Chests (CCs) deficient in customer service and reporting. The Direction references RBI/DCM/2026-27/393 and DCM (CC) No. G-3/03.06.001/2026-27. All previously issued circulars and Master Directions on this subject (listed in Annex III) are withdrawn with immediate effect.

Overseas Investment References - Decentralized Regional Office Processing

The Reserve Bank of India has decentralized the processing of overseas investment references from its Central Office to seven Regional Offices (Ahmedabad, Bengaluru, Mumbai, Kolkata, New Delhi, Hyderabad, Chennai), effective April 1, 2026. Authorised Dealer Category I banks must now submit references through the PRAVAAH portal to the designated regional office based on the UIN (Unique Identification Number) prefix of the foreign entity. This administrative change is being made to the Master Direction - Overseas Investment dated July 24, 2024.

FEMA Guarantee Reporting Requirements and Forms

The Reserve Bank of India issued A.P. (DIR Series) Circular No. 01 establishing new reporting requirements for guarantee transactions under FEMA (Guarantees) Regulations, 2026. Authorised dealer banks must report guarantee issuances, modifications, and invocations using three new forms (GRN Issue, GRN Modification, GRN Invocation) via the Centralised Information Management System within 30 calendar days of each quarter end. Each guarantee issuance requires a unique Guarantee Transaction Number.

One ISIL entry added to UN sanctions list

RBI issued notification RBI/2026-27/01 requiring regulated entities to implement updates to the UN Security Council ISIL (Da'esh) and Al-Qaida Sanctions List. One individual, Hamidah Nabagala (QDi.439), a Ugandan national born March 9, 1996, has been added to the list pursuant to UNSC resolutions 1267, 1989, and 2253. The individual is subject to assets freeze, travel ban, and arms embargo measures as set out in Security Council resolution 2734 (2024).

Lead Bank Assignment for New Kushavati District in Goa

RBI has designated State Bank of India as the Lead Bank for the newly created Kushavati district in Goa, effective March 30, 2026. The district, formed by the Government of Goa, has been assigned District Working Code '02W'. No changes have been made to Lead Bank assignments for other districts in Goa.

Reserve Bank of India Trade Relief Measures Directions 2026

RBI issued Trade Relief Measures Directions 2026 (RBI/2025-26/263) effective March 31, 2026, extending export credit tenor to up to 450 days for pre-shipment and post-shipment financing. The directions allow regulated entities to permit enhanced credit periods and permit liquidation of packing credit facilities from alternate sources for exporters impacted by the West Asian crisis.