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        FEMA

        International Trade Settlement in Indian Rupees (INR)

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        Special Rupee Vostro Accounts allowed without prior approval, enabling AD banks to open SRVAs with immediate effect. Authorised Dealer Category I banks may open Special Rupee Vostro Accounts (SRVAs) of overseas correspondent banks without referring the matter to the Reserve Bank, with immediate effect; AD banks must inform their constituents. These directions are issued under FEMA sections 10(4) and 11(1) and are without prejudice to permissions or approvals required under other laws.
                        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.

                              Special Rupee Vostro Accounts allowed without prior approval, enabling AD banks to open SRVAs with immediate effect.

                              Authorised Dealer Category I banks may open Special Rupee Vostro Accounts (SRVAs) of overseas correspondent banks without referring the matter to the Reserve Bank, with immediate effect; AD banks must inform their constituents. These directions are issued under FEMA sections 10(4) and 11(1) and are without prejudice to permissions or approvals required under other laws.


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