The Reserve Bank of India (RBI) has no plans to ease the net open position (NoP) restrictions that it had put on banks to reduce pressure on the rupee, governor Sanjay Malhotra said.Replying to a question by reporters, Malhotra said no proposal is presently before the central bank to discontinue the measures first announced at the end of March.“There is no change, whatever is there is there. There is no proposal to discontinue with we announced and implemented,” Malhotra said.Earlier on March 27, RBI had limited the lenders’ net open rupee positions in the NDF market to $100 million. These curbs were imposed to arrest the plunge in the rupee, which lost the most in 14 years through a volatile fiscal ended March 2026 to end up at the bottom of the currency leader board in Asia.NoP is the overnight unhedged exposure held by a bank in India. Before RBI's dictate banks used to calculate their open positions after netting off their hedged bets in the overseas non deliverable forward (NDF) market. For example a $10 million dollar purchase in India could be hedged by selling dollars in the NDF market in the future, which meant the bank in question had no open position to speak of. With the RBI putting a $100 million daily cap for overnight onshore deliverable rupee positions, banks are no longer able to net off these trades with the offshore NDF.