Desk note · industry · RBI / oil importers
From 12 October 2026 the Reserve Bank of India will sell dollars to Indian Oil, Hindustan Petroleum, and Bharat Petroleum through a special window via designated banks, covering their daily foreign-exchange requirements and keeping those purchases off the spot market.
On 12 October 2026, markets opened after a Reserve Bank of India weekend package aimed at steadying the rupee. From this date the RBI will meet the entire daily dollar requirement of Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation through a special window. Dollars are sold via designated banks, and the oil companies’ purchases are kept out of the spot foreign-exchange market. Reporting linked the step to heavy dollar demand from crude and product imports while the rupee had traded near record weakness. The rupee opened around 95.76 per dollar on Monday, about 97 paise stronger than Friday’s 96.73 close, though economists cautioned the relief may be partial if oil stays expensive and portfolio outflows continue.
India imports most of its crude. State refiners and marketers are among the steadiest dollar buyers, so routing them through a central bank window removes a large, predictable slice of spot demand. That can calm short-term volatility and forward premiums even when the broader balance of payments stays pressured. Reserves, which had risen after mid-year deposit windows and then slipped toward $734 billion by early October, will be watched more closely as the RBI supplies dollars directly. BPCL separately lined up plans for up to $3 billion in international bonds to fund offshore projects and refinance maturities, but the window addresses daily import funding rather than those bond plans.
A firmer rupee on the open helps importers and anyone with dollar loans, but it does not automatically cut petrol prices at the pump if global crude stays high. Travellers and students paying overseas fees still face a currency that has weakened sharply over the year. If you hedge imports, banks may pass on higher compliance costs from the companion derivative rules announced the same weekend. Watch weekly reserve data, whether PSU pump prices move after private retailers hiked rates, and if portfolio outflows ease enough for the rupee to hold Monday’s gain.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.