Rupee Vostro Account rules impose structured funding, collateral, and KYC/AML controls for inward remittances and permitted payments. This Master Circular consolidates procedures for opening and maintaining Rupee and foreign currency vostro accounts of non resident Exchange Houses under Rupee Drawing Arrangements and Foreign Currency Drawing Arrangements. It prescribes three operational procedures-DDA, Non DDA and Speed Remittance-specifying funding, auditing/monitoring, lien, float and collateral measures, permissible inward personal remittances and narrowly defined payments, strict KYC/AML/CFT compliance, prohibition of cash disbursements, credit only account operation, and detailed reporting and board review obligations using prescribed annexed formats.
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Provisions expressly mentioned in the judgment/order text.
Rupee Vostro Account rules impose structured funding, collateral, and KYC/AML controls for inward remittances and permitted payments.
This Master Circular consolidates procedures for opening and maintaining Rupee and foreign currency vostro accounts of non resident Exchange Houses under Rupee Drawing Arrangements and Foreign Currency Drawing Arrangements. It prescribes three operational procedures-DDA, Non DDA and Speed Remittance-specifying funding, auditing/monitoring, lien, float and collateral measures, permissible inward personal remittances and narrowly defined payments, strict KYC/AML/CFT compliance, prohibition of cash disbursements, credit only account operation, and detailed reporting and board review obligations using prescribed annexed formats.
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