Updated Exchange Control regulations relating to Forward Exchange cover, Rupee Accounts of Non-Resident Banks and Inter-bank Dealings have been brought out. The updated version includes certain amendments/modifications as under:

i) Opening and closure of vostro accounts need not be reported to Reserve Bank.

ii) The provision for permitting the banks to grant foreign currency loans to FCNR(B) account holders has been dropped.

iii) Banks have been enabled to use funds in foreign currency accounts besides those in FCNR(B) accounts for making loans.