RBI UPDATE
External Commercial Borrowings (ECB) – Clarifications on hedging
RBI has issued following directions in order to bring uniformity in hedging practices in the market so as to effectively address currency risk at a systemic level:
Coverage: Wherever hedging has been mandated by the RBI, the ECB borrower will be required to cover principal as well as coupon through financial hedges. The financial hedge for all exposures on account of ECB should start from the time of each such exposure (i.e. the day liability is created in the books of the borrower).
Tenor and Rollover: A minimum tenor of one year of financial hedge would be required with periodic rollover duly ensuring that the exposure on account of ECB is not unhedged at any point during the currency of ECB.
Natural Hedge: Natural hedge, in lieu of financial hedge, will be considered only to the extent of offsetting projected cash flows / revenues in matching currency, net of all other projected outflows.
Commitee Meeting
- Agenda of Audit Committee - First Meeting
- Agenda of Audit Committee - Second Meeting
- Agenda of Audit Committee -Third Meeting
- Agenda of CSR Committee - First Meeting
- Agenda of CSR Committee - Second Meeting
- Agenda of CSR Committee - Third Meeting
- Agenda of Nomination and Remuneration Committee - First Meeting
- Agenda of Nomination and Remuneration Committee - Subsequent Meeting
- Minutes of Audit Committee - First Meeting
- Minutes of Audit Committee - Second Meeting
- Minutes of Audit Committee - Third Meeting
- Minutes of CSR Committee - First Meeting
- Minutes of CSR Committee - Second Meeting
- Minutes of CSR Committee Meeting - Third Meeting
- Minutes of First Meeting of Stakeholders Relationship Committee
- Minutes of Nomination and Remuneration Committee - First Meeting
- Minutes of Nomination and Remuneration Committee - Subsequent Meeting
- Notice for calling of Audit Committee Meeting
- Notice for calling of Corporate Social Responsibility Committee Meeting
- Notice for calling of Nomination and Remuneration Committee Meeting
