RBI vide circular dated October 11, 2022 has permitted SPDs to offer all foreign exchange market-making facilities as currently permitted to Category-I Authorized Dealers, subject to prudential guidelines. At present, Standalone Primary Dealers (SPDs) are permitted to undertake foreign currency business for limited purposes.
Further, with effect from January 01, 2023 all financial transactions involving the Rupee undertaken globally by related entities of the SPD shall be reported to CCIL’s Trade Repository before 12:00 noon of the business day following the date of transaction.
