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RBI asks for data on companies' forex exposures

Indian banks must submit by August-end details of their customers' unhedged foreign currency exposures for the current year to March 2003, the central bank said in a notification on its Web site, www.rbi.org.in.

The data, to be provided every year, was for routine monitoring, a spokeswoman for the Reserve Bank of India told Reuters on Tuesday.

The central bank said unhedged exposures in the form of import payments would be projected from past performance, while those of non-trade payments, like interest on and repayment of foreign currency loans, would be based on the actual amounts due.

The banks must give details of each of their customers separately, the notification said.

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