Rupee Drawing Arrangements extended to Malaysia under Speed Remittance, allowing vostro accounts for non-resident exchange houses. The circular extends the Rupee Drawing Arrangements (RDAs) under the Speed Remittance procedures to permit exchange houses in Malaysia to open and maintain Rupee and foreign currency vostro accounts for inward remittances for permissible purposes, on the same terms as existing RDAs for other jurisdictions; other instructions remain unchanged and AD Category-I banks must notify constituents, with the directions issued under FEMA subject to any other legal approvals.
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Provisions expressly mentioned in the judgment/order text.
Rupee Drawing Arrangements extended to Malaysia under Speed Remittance, allowing vostro accounts for non-resident exchange houses.
The circular extends the Rupee Drawing Arrangements (RDAs) under the Speed Remittance procedures to permit exchange houses in Malaysia to open and maintain Rupee and foreign currency vostro accounts for inward remittances for permissible purposes, on the same terms as existing RDAs for other jurisdictions; other instructions remain unchanged and AD Category-I banks must notify constituents, with the directions issued under FEMA subject to any other legal approvals.
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