The Reserve Bank of India has issued new rules for handling certain types of financial contracts, effective from November 08, 2024. These rules mainly apply to deals involving non-centrally cleared derivatives like foreign exchange, interest rates, and credit. They outline how much money or collateral must be set aside to cover potential losses in these deals. The rules also explain what kind of collateral can be used and how disputes should be resolved. Additionally, they cover situations where deals involve foreign entities, making sure they meet certain standards.

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