Banks have urged the Reserve Bank of India to ease one of the key measures the regulator announced over the weekend to support the rupee and scrap the threshold above which the rule comes into effect, four people familiar with the discussions said.
Lenders have approached the central bank through a forex industry body, seeking the removal of a mandate that banks make a 20% cash deposit with the RBI for FX derivatives used to hedge current-account exposures, the people said.
