RBI chief Rajan says to ease some rebooking rules for importers
MUMBAI (Reuters) - Reserve Bank of India (RBI) will allow importers to rebook 25 percent of cancelled forward contracts, new Governor Raghuram Rajan said on Wednesday in his first media briefing after taking charge.
Rajan also said the Reserve Bank of India would allow the introduction of cash settled 10-year interest rate future contracts.
(Reporting by Neha Dasgupta; Editing by Subhranshu Sahu)
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This business of notes is livelihood for hundreds in Old Delhi, with vendors charging a fee of up to 20 percent to replace damaged banknotes. A mildly damaged 500 rupee note, for instance, can be exchanged for 480 rupees, while a bundle of crisp, new 10 rupee notes valued at 1,000 rupees is priced at 1,050 rupees. Full Article