Risk Management and Inter-Bank Dealings – Reporting of Unhedged Foreign Currency Exposures of Corporates

RBI/2013-14/151

A.P. (DIR Series) Circular No.17

July 23, 2013

To

All Category - I Authorised Dealer Banks

Madam / Sir,

Risk Management and Inter-Bank Dealings –
Reporting of Unhedged Foreign Currency Exposures of Corporates

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Section B paragraph 1(i)(h) and Section G Para (ii) of A.P. (DIR Series) Circular No. 32 dated December 28, 2010 on “Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks” and C.O. Circular FE.CO.FMD. 7472/02.03.075 (Policy) /2012-13 dated October 5, 2012, in terms of which AD Category – I banks are required to submit a quarterly statement in prescribed format (Annex V), on foreign currency exposures and hedges undertaken by corporates based on bank’s books.

2. It has now been decided that AD Category – I banks should submit the above quarterly report as per the revised format online only from quarter ended September 2013 through the Extensible Business Reporting Language (XBRL) system which may be accessed at https://secweb.rbi.org.in/orfsxbrl/. AD Category – I banks which require login ID / passwords for accessing XBRL system may submit their e-mail addresses and contact numbers to email ids. In case of system related issues, banks may call on 022-22610640 (D) and 022-22601000 Extn. 2529 or mail.

3. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully

Rudra Narayan Kar
Chief General Manager-in-Charge