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of <h1>Guidelines for Banks on Rupee/Foreign Currency Vostro Accounts: KYC, AML, and CFT Compliance Emphasized.</h1> The Master Circular consolidates guidelines for Authorized Dealer Category-I banks on opening and maintaining Rupee/Foreign Currency Vostro Accounts for non-resident Exchange Houses. It outlines procedures for Rupee Drawing Arrangements, including Designated Depository Agency (DDA), Non-DDA, and Speed Remittance methods, and sets conditions for Foreign Currency Drawing Arrangements. The circular emphasizes compliance with Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT) regulations. It mandates regular audits, internal controls, and reporting to ensure proper account management and risk mitigation. The circular is effective until July 1, 2012, when it will be updated.
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