Following the BCBS/IOSCO framework for margining un-cleared OTC business, a new proposal for OTC users in India emerges

The Reserve Bank of India released a discussion paper on margining un-cleared OTC business, in the same framework as others. The RBI intend to mandate the schedule based approach to IM, unless they give approval for a VaR based approach.  You have until June 3rd to respond, following which the implementation timetable is the same as adopted in the US and EU.

The discussion paper can be found here: https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=36870