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RBI opens special dollar window for oil marketing companies
સમાચારમાં કેમ?
Why does RBI hand oil companies a dollar window? The rupee logic GS-III external sector tests
The RBI opened a special window for public sector oil marketing companies to meet their entire daily dollar requirement, effective 12 October 2026 and until further notice.
Why it matters: asked in UPSC 2022
What you need to know
2 મિનિટ
The RBI opened a special window for public sector oil marketing companies to meet their entire daily dollar requirement, effective 12 October 2026 and until further notice.
The move comes as oil prices rise and the central bank announced regulatory measures for the foreign exchange market.
It is meant to reduce pressure on the rupee from large, lumpy dollar purchases.
સ્રોત: Topper IAS editorial (PIB / The Hindu / Indian Express)
મુખ્ય તથ્યો
Remember these
- RBI opened a special window for public sector oil marketing companies (OMCs) to meet their entire daily dollar requirement.
- Effective 12 October 2026 and until further notice.
- Aim: reduce pressure on the rupee from large, lumpy dollar purchases by OMCs in the forex market.
- RBI is India's central bank and the regulator and manager of the foreign exchange market under FEMA, 1999.
- Higher crude prices raise India's import bill, widening the current account deficit and weakening the rupee.
પ્રિલિમ્સ · મેઇન્સ
How the exam will ask it
પ્રિલિમ્સ
- The Reserve Bank of India manages foreign exchange under the Foreign Exchange Management Act (FEMA), 1999.
- A special dollar window for oil marketing companies lets them source dollars directly, instead of buying in the open interbank market.
- Rising crude oil prices tend to widen the current account deficit and put depreciation pressure on the rupee.
- Public sector OMCs such as IOCL, BPCL and HPCL are among India's largest buyers of dollars for crude imports.
મેઇન્સ
GS-III (Economy, External sector): India imports most of its crude, so concentrated dollar demand from OMCs can cause rupee volatility. A dedicated RBI window channels this demand outside the open market, easing exchange-rate pressure; the lasting way forward is diversifying energy sources, building reserves and deepening hedging markets.
PYQ connection
A question UPSC has already asked on this
With reference to the Indian economy, consider the following statements:
- If the inflation is too high Reserve Bank of India (RBI) is likely to buy government securities.
- If the rupee is rapidly depreciating RBI is likely to sell dollars in the market.
- If interest rates in the USA or European Union were to fall that is likely to induce RBI to buy dollars.
Which of the statements given above are correct?
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
જવાબ જુઓ
જવાબ: B
Why this matters: today's issue is directly connected to a concept UPSC has already tested. Read the story with this question in mind.
Practise this PYQ →Quick recall
Answer before you reveal
Which constitutional provision vests the superintendence, direction and control of the preparation of electoral rolls and the conduct of elections in the Election Commission?
- Article 326
- Article 324
- Article 327
- Article 329
જવાબ જુઓ
જવાબ: B — Correct: Article 324 — Article 324 vests superintendence, direction and control of electoral rolls and elections in the Election Commission, the legal basis for exercises like the SIR. • Article 326 — wrong: Article 326 provides for elections on the basis of adult suffrage; it does not vest control in the Commission. • Article 327 — wrong: Article 327 empowers Parliament to make laws on elections to legislatures, not to vest control in the ECI. • Article 329 — wrong: Article 329 bars courts from interfering in electoral matters; it does not vest control of rolls in the ECI.
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