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of <h1>India Expands Hedging for Oil Companies: Hedge Domestic Risks and 50% of Anticipated Imports via Authorized Banks.</h1> The circular addresses authorized banks regarding the expansion of hedging facilities for domestic oil refining and marketing companies in India. It permits these companies to hedge commodity price risks on domestic crude oil purchases and petroleum product sales based on international prices. Additionally, it allows hedging of anticipated crude oil imports up to 50% of previous import volumes. The hedging must be conducted through authorized banks, which must ensure compliance with board-approved policies and guidelines. Banks are also required to assess the suitability of hedging products for customers and forward any non-standard hedge transaction requests to the Reserve Bank for approval.
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