RBI opens special dollar window for IOC, HPCL and BPCL from 12 October
10 October 2026
The Reserve Bank of India announced on 10 October 2026 that it will open a special window for public sector oil marketing companies.
The decision is based on its assessment of current market conditions.
The window covers the entire daily dollar requirements of Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited.
The RBI will sell US dollars to these companies through designated bank(s).
The facility starts on Monday, 12 October 2026 and stays in place until further notice.
Companies covered:
IOCL, HPCL, BPCL
Scope:
Entire daily dollar requirements
Effective from:
12 October 2026
Duration:
Until further notice
Why it matters for exams: RBI's foreign exchange operations and its role as manager of the external sector are frequent topics in economy papers.
Kerala PSCUPSCSSCBank
In plain words
OMC Oil Marketing Company — A company that refines and sells petroleum products to consumers, such as IOCL, HPCL and BPCL.