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A regulator amends guidance on Special Rupee Vostro Accounts, clarifying that authorised dealer Category-I banks may, with immediate effect, permit surplus balances to be invested not only in government treasury bills and securities but also in non-convertible debentures, bonds and commercial paper issued by Indian companies, subject to guidelines and limits set forth in the referenced circular and compliance with FEMA and any other applicable statutory permissions or approvals under other laws. The direction is issued under the regulator's FEMA powers and must be communicated to affected constituents.
A regulator amends guidance on Special Rupee Vostro Accounts, clarifying that authorised dealer Category-I banks may, with immediate effect, permit surplus balances to be invested not only in government treasury bills and securities but also in non-convertible debentures, bonds and commercial paper issued by Indian companies, subject to guidelines and limits set forth in the referenced circular and compliance with FEMA and any other applicable statutory permissions or approvals under other laws. The direction is issued under the regulator's FEMA powers and must be communicated to affected constituents.
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