Bankers guard cos against FEMA violations

Mumbai: After the recent currency turbulence and rapid-fire regulations to tame the rupee, bankers are telling corporates, 'show me the paper'.Since a fortnight, most banks are demanding proper documents, as evidence of actual import and export orders, from companies buying and selling dollars in the forward market-a practice that was prevalent before 2020. Over and above this, banks are carefully picking clients, checking their track record, and setting limits based on past performance-as was d...