foreign exchange

RBI urges banks for caution on unauthorised forex transactions

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The Reserve Bank of India has called for banks to exercise more vigilance when it comes to preventing the misuse of traditional banking channels in enabling unauthorised trading in foreign exchange. The central bank said in a notification on Wednesday that it has come across instances of unauthorised entities offering foreign exchange trading facilities to … Read more

RBI: Banks must play bigger role in rupee derivatives: RBI

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Mumbai: Indian lenders must play a larger role in global derivatives and work to ensure that smaller retail players do not pay more for access to foreign exchange products, central bank governor Shaktikanta Das said Wednesday, underscoring the need for local banks to reflect the country’s rising economic status and emerge as market makers. “Participation … Read more