Special Rupee Vostro Accounts enable Indian-rupee settlement of cross-border trade and permissible FEMA transactions through authorised dealer banks. Special Rupee Vostro Accounts provide an additional Indian-rupee arrangement for settling cross-border export and import transactions and permissible FEMA current-account and capital-account transactions. Authorised Dealer Category-I banks may open SRVAs for overseas branches or banks resident outside India and may open dedicated additional current accounts for exporters or importers. SRVAs may receive inward remittances, transfers from repatriable rupee accounts and proceeds of permissible transactions. Documentation and reporting remain governed by extant FEMA requirements, while debt investments from SRVA balances are subject to applicable non-resident investment directions.
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 enable Indian-rupee settlement of cross-border trade and permissible FEMA transactions through authorised dealer banks.
Special Rupee Vostro Accounts provide an additional Indian-rupee arrangement for settling cross-border export and import transactions and permissible FEMA current-account and capital-account transactions. Authorised Dealer Category-I banks may open SRVAs for overseas branches or banks resident outside India and may open dedicated additional current accounts for exporters or importers. SRVAs may receive inward remittances, transfers from repatriable rupee accounts and proceeds of permissible transactions. Documentation and reporting remain governed by extant FEMA requirements, while debt investments from SRVA balances are subject to applicable non-resident investment directions.
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