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of Persons resident outside India maintaining Special Rupee Vostro Accounts for international trade settlement may invest their rupee surplus balances in Central Government Securities, including Treasury Bills. This investment option is governed by the Foreign Exchange Management (Debt Instruments) Regulations, 2019, and the Foreign Exchange Management (Deposit) Regulations, 2016, as amended, and detailed in the updated Master Direction on Non-resident Investment in Debt Instruments, 2025. Authorized Dealer Category-I banks are instructed to inform their constituents accordingly. These directions are effective immediately and issued under the Foreign Exchange Management Act, 1999, without affecting any other legal permissions or approvals required.
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