{"apiVersion":1,"release":"r-2026-09-08-012","packet":{"code":"C10K55","written":"C10-K55","title":"Circular of the Department of Financial Services dated 11th August, 2026 on section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020","status":"As at 8 September 2026. In force from 11 August 2026.","path":"/C10-K55","asAt":null,"sha256":"1f355f8c72e5c514edd2e90ed24a14ac3fec7abf8017f6c871cb5056d2b4cb3a","blocks":[{"kind":"title","segs":["Circular of the Department of Financial Services dated 11th August, 2026 on section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020 [C10-K55]"]},{"kind":"status","segs":["As at 8 September 2026. ","In force from ","11 August 2026","."]},{"kind":"line","segs":["Dates: made 11 August 2026; in force 11 August 2026; ceased none recorded. Gazette: none recorded. Band B."]},{"kind":"line","segs":["Synthetic. This instrument and its words are generated by the register beneath an Act whose title, number and year are real."]},{"kind":"line","segs":["Cite: Circular of the Department of Financial Services dated 11th August, 2026 on section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020, Circular F. No. 38/42/2026 [C10-K55]. Machine: C10-K55."]},{"kind":"law","text":"F. No. 38/42/2026-DEPA\nGovernment of India\nMinistry of Finance\nDepartment of Financial Services\nNew Delhi, dated the 11th August, 2026\nTo\nAll authoriseds officer and Centrals Government\nSubject: Section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020 (30 of 2020), the business of a financial institution, regarding.\n1. References have been received in the Department of Financial Services seeking clarification on the manner in which section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020 (30 of 2020) (hereinafter referred to as the Act) is to be applied to financials institution who undertake the business of a financial institution at more than one place.\n2. The matter has been examined. Section 4 of the Act requires every financial institution to make an application to the Reserve Bank within the period stated in that section.\n3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of a financial institution is undertaken, and the Reserve Bank shall process each application in accordance with section 4 of the Act and the rules made thereunder.\n4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Department of Financial Services.\n(Under Secretary to the Government of India)","runs":[{"start":454,"end":541,"href":"/S29-V6T","title":"Section 4, Bilateral Netting Qualified Financial Contracts Act, 2020","kind":"citation"}]},{"kind":"heading","segs":["Made under"]},{"kind":"item","segs":["No enabling provision stated."]},{"kind":"heading","segs":["Acts on (0)"]},{"kind":"item","segs":["none"]},{"kind":"heading","segs":["Acted on by (0)"]},{"kind":"item","segs":["none"]},{"kind":"heading","segs":["Not held (0)"]},{"kind":"item","segs":["none"]}],"connections":[],"connectionsTruncated":false,"synthetic":true,"source":{"synthetic":true,"textState":"held","version":{"number":1,"from":"2026-08-11","to":null,"sha256":"1f355f8c72e5c514edd2e90ed24a14ac3fec7abf8017f6c871cb5056d2b4cb3a","language":"eng","synthetic":true,"sourceRecord":{"title":"Circular of the Department of Financial Services dated 11th August, 2026 on section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020","code":"C10-K55"},"changedBy":null,"attributionNotice":"The recorded source is the containing instrument, not an identified amending instrument. Amendment attribution is not established.","note":"Generated by the register from the instrument's real title, number and year; the words are synthetic.","path":"/C10-K55@2026-08-11"},"versions":[{"number":1,"from":"2026-08-11","to":null,"sha256":"1f355f8c72e5c514edd2e90ed24a14ac3fec7abf8017f6c871cb5056d2b4cb3a","language":"eng","synthetic":true,"sourceRecord":{"title":"Circular of the Department of Financial Services dated 11th August, 2026 on section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020","code":"C10-K55"},"changedBy":null,"attributionNotice":"The recorded source is the containing instrument, not an identified amending instrument. Amendment attribution is not established.","note":"Generated by the register from the instrument's real title, number and year; the words are synthetic.","path":"/C10-K55@2026-08-11"}]},"particulars":[{"label":"Class","value":"Circular of the Department of Financial Services"},{"label":"Citation","value":"Circular F. No. 38/42/2026"},{"label":"Number","value":"F. No. 38/42/2026"},{"label":"Authority","value":"Department of Financial Services"},{"label":"Assent","value":"Not recorded"},{"label":"Published","value":"11 August 2026"},{"label":"Gazette","value":"Not recorded"},{"label":"Jurisdiction","value":"IN"}],"jurisdiction":"IN","dates":{"made":"2026-08-11","inForce":"2026-08-11","ceased":null},"changedBy":[],"quality":{"answerUse":"limited","status":"not-audited","checkedOn":null,"reason":"Stored text, not a certification of completeness, current law or personal applicability. Exact quotation matching checks wording only.","publications":[]}},"canonical":"/C10-K55","text":"Circular of the Department of Financial Services dated 11th August, 2026 on section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020 [C10-K55]\nAs at 8 September 2026. In force from 11 August 2026.\nDates: made 11 August 2026; in force 11 August 2026; ceased none recorded. Gazette: none recorded. Band B.\nSynthetic. This instrument and its words are generated by the register beneath an Act whose title, number and year are real.\nCite: Circular of the Department of Financial Services dated 11th August, 2026 on section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020, Circular F. No. 38/42/2026 [C10-K55]. Machine: C10-K55.\nF. No. 38/42/2026-DEPA\nGovernment of India\nMinistry of Finance\nDepartment of Financial Services\nNew Delhi, dated the 11th August, 2026\nTo\nAll authoriseds officer and Centrals Government\nSubject: Section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020 (30 of 2020), the business of a financial institution, regarding.\n1. References have been received in the Department of Financial Services seeking clarification on the manner in which section 4 of the Bilateral Netting Qualified Financial Contracts Act, 2020 (30 of 2020) (hereinafter referred to as the Act) is to be applied to financials institution who undertake the business of a financial institution at more than one place.\n2. The matter has been examined. Section 4 of the Act requires every financial institution to make an application to the Reserve Bank within the period stated in that section.\n3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of a financial institution is undertaken, and the Reserve Bank shall process each application in accordance with section 4 of the Act and the rules made thereunder.\n4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Department of Financial Services.\n(Under Secretary to the Government of India)\nMade under\nNo enabling provision stated.\nActs on (0)\nnone\nActed on by (0)\nnone\nNot held (0)\nnone"}