31-March-2026
Banking
 
Banks seek relief from RBI: New forex cap sparks fear of $30 bn unwind
30-Mar-2026

Banks have approached the Reserve Bank of India (RBI) to ease its forex position limit of $100 million that was announced on Friday. In a meeting that was held with the central bank on Saturday, banks have also sought an extension of the April 10 deadline to meet these conditions, sources told FE. There are fears that the this could lead to unwinding of positions in excess of $30 billion, with some pegging the amount at around $40-$45 billion.

News Source:- https://www.financialexpress.com/business/banking-finance/lenders-seek-relaxation-in-forex-position-curbsnbsp/4188188/?ref=hometop_hp