FX deals cast pall over fledgling India derivatives

Newswire

By Saikat Chatterjee

MUMBAI, April 11 (Reuters) - Several Indian firms are taking their banks to court over foreign exchange derivatives trades which have gone sour, alarming policy makers and casting a pall over a growing but still underdeveloped area of the market.

Amrutlal Shah, chief executive of stationery maker Sundaram Multi Pap Ltd , told Reuters the firm had filed a lawsuit against ICICI Bank for mis-selling - that it had asked for one product and got ...

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