RBI working group on commodity price hedging submits recommendations
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Mumbai: A working group constituted by the Reserve Bank of India (RBI) said it favours a uniform method in extending facilities to hedge commodity price risk in overseas markets that is agnostic to the place of procurement.
The group, set-up in September 2016 to review the norms for hedging of commodity price risk by residents in the overseas markets, suggested that hedging of only direct commodity price risk may be allowed for now because of the complexity in assessing indirect risks faced by the users.
The group recommended that banks and their subsidiaries involved in the capital market be allowed facilities to hedge commodity prices both over-the-counter as well as on bourses.
The central bank has sought feedback on the recommendations latest by 15 December.
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ABC News reported on the unfolding situation, amid fears that the clash between Israel and Iran might escalate into a wider regional conflict.
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