RBI approval for Special Rupee Vostro Accounts required; applicant banks must meet resilience, experience and correspondent relationship criteria. Prior RBI approval is required to open a Special Rupee Vostro Account. Applicant banks must demonstrate business resilience and sound financial health, experience in facilitating trade and investment transactions, capacity to provide other financial services, and established correspondent banking relationships with banks in the partner country as conditions for authorisation.
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Provisions expressly mentioned in the judgment/order text.
RBI approval for Special Rupee Vostro Accounts required; applicant banks must meet resilience, experience and correspondent relationship criteria.
Prior RBI approval is required to open a Special Rupee Vostro Account. Applicant banks must demonstrate business resilience and sound financial health, experience in facilitating trade and investment transactions, capacity to provide other financial services, and established correspondent banking relationships with banks in the partner country as conditions for authorisation.
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