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of <h1>RBI Mandates Quarterly XBRL Reports from Banks on Commodity and Freight Risk Hedging, Even for Nil Transactions.</h1> The Reserve Bank of India issued an amendment to the 2018 Directions on Hedging of Commodity Price Risk and Freight Risk in Overseas Markets. The amendment requires all Authorized Dealer Category-I Banks to submit a quarterly report to the Chief General Manager of the Financial Markets Regulation Department using the Extensible Business Reporting Language (XBRL) system. The report, which must follow the format in Annexure I, should be submitted even if there are no transactions, in which case a 'Nil' report is required. This directive is issued under the Foreign Exchange Management Act, 1999.
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