The RBI is actually considering a jumbo plan that covers 20% of bilateral trade in local currency as a mandate for importers into India, which could be simply implemented thru central banks and EXIM banks in each jurisdiction even as banks get to constructing derivatives for the Global Trade segment. India's Dollar position and exchange strnength could receive a significant boost  fromt he mandate and significaantly accelerate thecc ountry's move to capital convertibility making it a likely priority for most India bulls and otherwise influential in Global Banking and Sovereign trading              (Fx/bonds)

Posted via email from The India Investment Post