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Banks push RBI for forex cap relief amid loss fears

Source: economictimes.indiatimes.com

Indian banks are asking regulators for relief from a new rule capping forex exposure at 25% of their core capital to avoid big losses.
The rule, from the Reserve Bank of India, aims to limit risks from volatile currency trades but banks say it will force them to cut profitable business.
Without changes, banks face hundreds of crores in losses and reduced lending power.

Indian banks are urging the Reserve Bank of India (RBI) to ease a new forex trading limit that caps their exposure at 25% of tier-1 capital. Industry leaders argue the rule, meant to curb risks in currency markets, will hit profits hard and shrink lending capacity. This matters because it could slow economic growth by limiting banks' ability to trade currencies profitably amid India's rising forex needs.