c.  The OTC forex market in India is a part of the relationship banking and thus, the banks have a responsibility to ensure the appropriateness and optimality of the transactions from the customer’s view point.
d.  International interest in INR and emerging off-shore markets are consistent with progressive globalisation of the Indian economy and the efforts must be to bring all genuine users seeking to hedge underlying exposures on-shore. Thank you once again for inviting me to this conference and for your patience. BIS central bankers’ speeches  5