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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Domestic Oil & Shipping Firms Can Hedge Freight Risk Internationally; Authorized Banks to Approve Under FEMA Regulations.</h1> The circular allows domestic oil-refining and shipping companies to hedge freight risk in international markets, as per regulations under the Foreign Exchange Management Act. Authorized Dealer Category-I banks are granted the authority to approve such hedging activities, provided they are conducted through regulated exchanges and within a one-year tenor. Oil-refining companies can hedge based on past import performance, while shipping companies can hedge based on uncommitted ships. Banks must ensure companies have Board-approved risk management policies. For other companies, banks must seek Reserve Bank approval. Amendments to relevant notifications are pending, and banks must inform their clients of these provisions.
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