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What are the terms and conditions set by RBI for Banks to participate in exchange traded fx futures?
RBI has allowed Banks to participate in currency futures market. The AD Category I Banks which fulfill stipulated prudential requirements are eligible to become a clearing member and / or trading member of the currency derivatives segment of MCX-SX. AD Category I Banks which are urban co-operative banks or state co-operative banks can participate in the currency futures 09 market only as a client, subject to approval thereof, from the respective regulatory department of RBI.