Mumbai: The Clearing Corporation of India ( CCIL ) website to buy and sell dollars for retail customers called fxretail is nearly dormant. About 60 per cent of fxretail customers are from three banks, Bank of Baroda, Union Bank of India and Oriental Bank of Commerce. There are 28 categories of customers including banks, foreign institutional investors, trusts, mutual funds and partnership firms which can register. Also, retail customers look for convenience and choice of instruments which banks provide. How will CCIL give them that?” asked a foreign bank executive.

Source: Economic Times January 24, 2020 07:18 UTC