Authorised Dealer Category-II permission to open Nostro accounts requires one-time central bank approval; existing instructions remain applicable. Authorised Dealer Category-II entities may open and operate Nostro accounts only after obtaining a one-time prior approval from the Reserve Bank; all other previously issued operational instructions remain unchanged and the directions are issued under the Foreign Exchange Management Act without prejudice to other statutory permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Authorised Dealer Category-II permission to open Nostro accounts requires one-time central bank approval; existing instructions remain applicable.
Authorised Dealer Category-II entities may open and operate Nostro accounts only after obtaining a one-time prior approval from the Reserve Bank; all other previously issued operational instructions remain unchanged and the directions are issued under the Foreign Exchange Management Act without prejudice to other statutory permissions.
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