RBI proposes to liberalise Scope of Booking of Forward Contracts for SMEs and Resident Individuals - RBI - Reserve Bank of India
109304471
Published on June 01, 2007
RBI proposes to liberalise Scope of Booking of Forward Contracts for SMEs and Resident Individuals
Under the extant forex regulations, for persons resident in India, a number of products are permitted for hedging of genuine exposures. In the Annual Policy Statement for the year 2007-08, the Reserve Bank of India announced further measures of liberalisations in this regard. Particular focus of the policy was on Small and Medium Enterprises and resident individuals and the objective was to simplify the documentation requirements as well as dynamic hedging of exposures.
The Reserve Bank of India (RBI) has today placed on its website (www.rbi.org.in) a draft circular on the proposed liberalisation. The Reserve Bank has requested users of this facility to send their views/suggestions to the Chief General Manager, Foreign Exchange Department, 11th floor, Central Office Building, Reserve Bank of India, Mumbai 400 001 or fax them at 022-2261 0623 or e-mail within 15 days.
The Reserve Bank will examine the views/suggestions for refining the proposed facility.
Alpana Killawala
Chief General Manager
Press Release : 2006-07/1652
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