Booking of foreign exchange forward contracts: residents may self-declare exposures to book forwards without underlying documentation. Resident individuals, firms and companies with actual or anticipated foreign exchange exposures may book foreign exchange forward contracts on the basis of a simple self-declaration without producing underlying documents; SMEs' prior facilities for booking, canceling or rolling over forwards without documentation remain unchanged. Authorised Dealer Category I banks must use the revised reporting format and continue to apply other conditions, including tenor, as prescribed earlier. The directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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.
Booking of foreign exchange forward contracts: residents may self-declare exposures to book forwards without underlying documentation.
Resident individuals, firms and companies with actual or anticipated foreign exchange exposures may book foreign exchange forward contracts on the basis of a simple self-declaration without producing underlying documents; SMEs' prior facilities for booking, canceling or rolling over forwards without documentation remain unchanged. Authorised Dealer Category I banks must use the revised reporting format and continue to apply other conditions, including tenor, as prescribed earlier. The directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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