Settlement in INR permitted for exports and imports via Special Rupee Vostro Accounts under modified foreign trade policy. The Foreign Trade Policy now permits invoicing, payment and settlement of exports and imports in INR through Special Rupee Vostro Accounts of correspondent banks, whereby Indian importers credit INR payments to the correspondent's Special Vostro account against invoices and Indian exporters are paid export proceeds in INR from balances in the designated Special Vostro account, aligning the Policy with the RBI A.P.(DIR Series) Circular and taking immediate effect.