Reserve Bank of India (RBI) has informed that nationalized banks are allowed to trade in foreign exchange. The details of profit / loss of nationalized banks by trading in foreign exchange operations during the financial year 2009-10, 2010-11 and 2011-12 are at Annex.

This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Rajya Sabha today.

(Release ID :92544)

Foreign exchange trading permission for nationalized banks confirmed, with mandated disclosure of trading profit and loss details. Permission for nationalized banks to engage in foreign exchange trading is affirmed, and aggregated profit and loss outcomes from those trading operations for the financial years referenced are disclosed in an annex.