RBI/2025-2026/71
A.P. (DIR Series) Circular No.08

August 05, 2025

To

All Category-I Authorised Dealer Banks

Madam/Sir

International Trade Settlement in Indian Rupees (INR)

Attention of Authorised Dealer (AD) Category - I banks is invited to Para 10 of A.P (DIR Series) Circular No.10 dated July 11, 2022 on the captioned subject.

2. On a review, it has been decided to allow AD banks to open Special Rupee Vostro Accounts (SRVAs) of overseas correspondent banks without referring to the Reserve Bank for approval.

3. The above instruction is applicable with immediate effect. AD banks may bring the contents of this circular to the notice of its constituents and customers concerned.

4. These directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(N. Senthil Kumar)
Chief General Manager