Importers and exporters can cancel up to 75 per cent of their hedged FX exposures
RBI is reportedly processing licences for private banks where a total of 25 firms have applied.
Mumbai:The Reserve Bank of India relaxed some of the forex hedging rules for importers and exporters, to allow greater operational flexibility, the central bank notified on Thursday.
'Importers and exporters can cancel up to 75 per cent of their hedged FX exposures, as against 25 per cent earlier,' specified RBI . The profit or loss from these cancellations will be borne by the importer/exporter, instead of passing it on to the customers as was mandated earlier.
( Source : reuters )
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