Banks seek RBI nod to use new rules for old trade mismatches

Banks want RBI approval to apply new rules for closing old trade deals. These unsettled transactions have accumulated to nearly one lakh crore rupees over time. New regulations, effective October 1, 2026, will empower banks to resolve these cases. This move aims to prevent exporters from facing caution listing for past unsettled trades. RBI deputy governor Rohit Jain will meet bank CEOs this week to discuss the matter.