The
Reserve Bank of India has today placed on its website (www.rbi.org.in) the revised
draft circular on liberalisation of booking of forward contracts for small
and medium enterprises (SMEs) and resident individuals. Users of this facility
are requested to send their views/suggestions to the Chief General Manager, Foreign
Exchange Department, 11th floor, Central Office Building, Reserve Bank
of India, Mumbai 400001 or fax them at 022-2261 0623 or e-mail
within 7 days. In
the Annual Policy Statement for the year 2007-08, the Reserve Bank of India announced
certain measures for hedging of foreign currency exposures of Small and Medium
Enterprises and resident individuals with the objective of simplifying documentation
requirements as well as dynamic hedging of exposures. A draft circular on the
proposed measures was placed on the website on June
01, 2007 and the Reserve Bank requested users of this facility to send their
views/suggestions for refining the proposed facility. Based on the feedback, the
operational guidelines on the proposed measures have been modified. The
Reserve Bank will finalise the circular after examining the views/ suggestions. G.Raghuraj
Deputy General Manager Press
Release : 2007- 08/500 |