• Previously prescribed framework for trading of cash settled interest rate derivatives.
• Following consultations with stock exchanges, SEBI will review extant position limits.
• Banks and primary dealers have same position limits as trading members.
• Category I and II FPIs shall have same position limits as apply to trading members.
• Non-institutions belonging to Category II FPI shall have same position limits as clients.
• Revised limits for interest rate derivatives in the 8-11 years residual maturity bucket.

Effectiveness

• The position limits are effective immediately.