IndusInd Bank has closed its first set of structured derivative transactions with its corporate clients in India after the Reserve Bank of India permitted complex derivative products with effective from January 3, 2022. The Bank undertook Swaption and Forex Barrier Options trades with a large corporate client and a large diamond client. The hedges were for Forex and Interest Rate risk management by the clients.
The Bank has been a front runner in the derivatives space in India and was amongst the first 4 banks who undertook INR Swaptions in the Institutional Inter Dealer market on August 17, 2021. It was also amongst the first set of banks who undertook Modified MIFOR trades in INR on December 20, 2021. The Bank has also undertaken Non Deliverable INR Forex Option hedges with its International corporate client base via its IFSC Banking Unit (IBU) located at the GIFT City SEZ.
The Bank is the first and only Indian Bank who is an active market maker in Non-Deliverable Forwards and Forex Options space in the Institutional Inter Dealer Broker Market for INR in Singapore and London via its IBU.
IndusInd Bank is one of the fastest-growing banks in the banking sector in India.
| Company Name | CMP |
|---|---|
| HDFC Bank | 793.65 |
| ICICI Bank | 1366.15 |
| Axis Bank | 1364.80 |
| Kotak Mahindra Bank | 382.25 |
| Indusind Bank | 851.35 |
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