Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses

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..... 11 A. P. (FL/RL Series) Circular No. 01 August 22, 2008 To, All Authorized Dealer Category - I Banks Madam / Sir, Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Memorandum of Instructions for Opening and Maintenance....

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....eralization it has been decided to permit AD Category - I banks to designate drawee branches under Rupee Drawing Arrangements (RDA) beyond 300, provided such branches are under Core Banking Solution where on-line monitoring of funds position is ensured to avoid concealed overdrafts in vostro accounts, subject to the terms and conditions of Reserve Bank's approval for the tie-up with an Exchange Ho....