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of <h1>Regulator allows AD Category-I banks to invest surplus Special Rupee Vostro balances in NCDs, bonds, commercial paper under FEMA</h1> A central regulator directs Authorised Dealer Category-I banks to permit surplus balances in Special Rupee Vostro Accounts to be invested, with immediate effect, in non-convertible debentures, bonds and commercial paper issued by Indian companies, subject to the guidelines and limits set out in the referenced circular. Banks must notify their constituents. The instruction is issued under FEMA and does not override any other statutory permissions or approvals that may be required.
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