Special Rupee Vostro Account: existing Rupee Vostro accounts cannot be repurposed for the new rupee settlement mechanism. Special Rupee Vostro Accounts for the new rupee settlement mechanism cannot be formed by reusing existing Rupee Vostro Accounts of banks from trading partner countries; existing Vostro arrangements are categorically excluded under the FEMA guidance on international trade settlement in rupees.
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 Account: existing Rupee Vostro accounts cannot be repurposed for the new rupee settlement mechanism.
Special Rupee Vostro Accounts for the new rupee settlement mechanism cannot be formed by reusing existing Rupee Vostro Accounts of banks from trading partner countries; existing Vostro arrangements are categorically excluded under the FEMA guidance on international trade settlement in rupees.
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