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          FEMA

          Which bank will be responsible for reporting for cross border transaction either AD bank in India or correspondent bank?

          International Trade Settlement in Indian Rupees (INR) - As on Dec 01, 2022

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          Reporting responsibility: AD bank in India must report cross-border transactions in correspondent banks' Special Rupee Vostro Accounts. The Authorized Dealer (AD) bank in India shall be responsible for reporting transactions taking place in the correspondent bank's Special Rupee Vostro Account of the trading partner country in the context of international trade settlement in INR.
                            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.

                                  Reporting responsibility: AD bank in India must report cross-border transactions in correspondent banks' Special Rupee Vostro Accounts.

                                  The Authorized Dealer (AD) bank in India shall be responsible for reporting transactions taking place in the correspondent bank's Special Rupee Vostro Account of the trading partner country in the context of international trade settlement in INR.


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