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[Cites 0, Cited by 0] [Section 2(1)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(1)(b) in The Payment And Settlement Systems Act, 2007

(b)"derivative" means an instrument, to be settled at a future date, whose value is derived from change in interest rate, foreign exchange rate, credit rating or credit index, price of securities (also called "underlying"), or any other underlying or a combination of more than one of them and includes interest rate swaps, forward rate agreements, foreign currency swaps, foreign currency rupee swaps, foreign currency options, foreign currency rupee options or any other instrument, as may be specified by the Reserve Bank from time to time;