Forward contract booking based on past performance permitted; higher limits available on application for proven corporates. Authorised dealers may offer forward contracts based on a three year average of past import/export performance, subject to a cap on outstanding forwards relative to eligible limits; Reserve Bank may permit higher deliverable limits on application for large corporates without documentary evidence, upon submission through an authorised dealer of authenticated turnover, overdue realisations/payments and existing limits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Forward contract booking based on past performance permitted; higher limits available on application for proven corporates.
Authorised dealers may offer forward contracts based on a three year average of past import/export performance, subject to a cap on outstanding forwards relative to eligible limits; Reserve Bank may permit higher deliverable limits on application for large corporates without documentary evidence, upon submission through an authorised dealer of authenticated turnover, overdue realisations/payments and existing limits.
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