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of <h1>New Special Rupee Vostro Account Requires Prior Approval, Enhancing International Trade Settlement in INR Under 2016 Regulations.</h1> The Special Rupee Vostro Account (SRVA) differs from the existing Rupee Vostro Account under the Foreign Exchange Management (Deposit) Regulations, 2016, primarily in its requirement for prior approval before opening. The SRVA is part of an additional arrangement for settling international trade in Indian Rupees (INR), supplementing the current system.
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