Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-Resident Exchange Houses: Rupee Drawing Arrangement

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....Vostro Accounts of Non-Resident Exchange Houses: Rupee Drawing Arrangement Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph (C) 3 vii of the A. P. (DIR Series) Circular No. 28 [A. P. (FL/RL Series) Circular No. 02] dated February 06, 2008 and paragraph No. 3(h) and 5C of Master Direction No.2 dated January 1, 2016 on Opening and Maintenance of Rupee / Fore....

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....mated drawings. 2. To further streamline the remittance arrangement under the Speed Remittance Procedure and make remittances cost-effective, it has now been decided to do away with the mandated requirement of maintenance of collateral or cash deposits by the Exchange Houses with whom the banks have entered into the Rupee Drawing Arrangement. The AD banks are free to determine the collateral re....