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The Reserve Banks of India has given a leeway to those banks which are currently negotiating with international/multilateral financial institutions for borrowing under the RBI's concessional swap window.
These banks will have to get a firm commitment from international/multilateral financial institutions in this regard on or before November 30. They will be allowed to enter into a forward-forward swap.
They will sell the foreign exchange corresponding in the forwards market for the money that will receive up to December 31.
