Bank stocks drop up to 4% after RBI intensifies crackdown on rupee speculation

It is Rupee F&O, but it’s outside the country in “non deliverable” contracts, which means actual rupee or dollar is never exchanged, but at expiry, the difference between exchange rates are settled in cash. Banks take these positions as a hedge or for income. RBI limited the positions to 100M last time… Now they seem to be blocking all Fx derivatives.

@sandeep_cs

https://www.bloomberg.com/news/articles/2026-03-29/banks-urge-rbi-to-relax-new-rules-as-30-billion-unwinding-looms

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