The Reserve Bank of India (RBI) has maintained its stance on exchange-traded rupee derivatives, confirming no material change in its January circular on the matter. Despite market speculation, the RBI has not requested brokerages to provide proof of their clients' underlying forex exposure. Additionally, the RBI announced a deferral in the implementation of forex derivatives rules to May 3, a move that comes after market panic ensued following the initial announcement. RBI Governor Shaktikanta Das emphasized that there's no question of reviewing the FX derivative norms, reinforcing the central bank's commitment to its foreign exchange risk management policies. The RBI also reiterated the necessity for participants in the exchange-traded currency derivatives market to have actual exposure, addressing concerns over potential misuse of the facility.