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of <h1>Central Bank Updates Guidelines for Vostro Accounts: Expands RDA Transactions to Include Utilities, Taxes, and EMIs.</h1> The circular issued by the central bank provides updated instructions for Authorized Dealer Category-I banks regarding the opening and maintenance of Rupee and Foreign Currency Vostro Accounts for non-resident exchange houses. The amendments expand the scope of Rupee Drawing Arrangements (RDAs) by adding new permissible transactions, which include utility service payments, tax payments, and EMI payments to banks and NBFCs in India. The guidelines emphasize that donations to charitable institutions should not be processed through exchange houses. These directions are issued under the Foreign Exchange Management Act, 1999 and are supplementary to existing regulations.
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