| Date : 01 Jun 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.
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.
Reserve Bank will examine the views/suggestions for refining the proposed facility.
Chief General Manager
Release : 2006-07/1652