FORWARD CONTRACT  BOOKING  WITH UNDERLYING EXPOSURE  WITHOUT SUBMISSION OF  PURCHASE ORDER/PERFORMA INVOICE 

RBI has recently come up with amendment in  recent guidelines for hedging

Exporter/Importer can book the forward contracts up to USD 100 million without the need  submitting the PO/PI ,earlier this limit was USD 10 million

What customer needs to ensure

Contracted period do not exceed the amount and tenor  of underlying

Underlying exposure hedged through all Ad banks do not exceed from value of underlying

Same underlying can be hedged number of times if its value not realized & exist at the time of booking