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of <h1>Regulator allows nonresident SRVA holders to invest rupee surplus in corporate NCDs, bonds and commercial paper under General Route limits</h1> Regulator permits persons resident outside the country holding Special Rupee Vostro Accounts (SRVAs) to invest rupee surplus balances in non-convertible debentures/bonds and commercial papers of domestic companies, amending the Master Direction accordingly. Such investments are to be reckoned under the corporate debt investment limit under the General Route and remain subject to applicable FPI limits, except that minimum residual maturity and issue-wise limits do not apply via the SRVA route. SRVA holders and authorised banks bear primary compliance responsibility; banks must facilitate separate demat accounts and report transactions to registered depositories. The changes take effect immediately.
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