International trade settlement in Indian Rupees: additional current accounts allowed for both export and import settlements. Authorised Dealer Category I banks maintaining a Special Rupee Vostro Account may open an additional special current account for constituents to settle international trade in Indian Rupees; the permitted use of the additional account is extended from export transactions to include both export and import transactions, and banks are instructed to notify their constituents of this operational flexibility.
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.
International trade settlement in Indian Rupees: additional current accounts allowed for both export and import settlements.
Authorised Dealer Category I banks maintaining a Special Rupee Vostro Account may open an additional special current account for constituents to settle international trade in Indian Rupees; the permitted use of the additional account is extended from export transactions to include both export and import transactions, and banks are instructed to notify their constituents of this operational flexibility.
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