Master Circular on Memorandum of Instructions
This circular outlines the guidelines for opening and maintaining Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses.
Operations of Rupee Vostro Accounts:
The accounts should not be used for cross-border outward remittances from India.
Permitted Transactions:
Donations/contributions to charitable institutions should not be routed through Exchange Houses.
Important Note:
Cash disbursement of remittances received is not allowed under Rupee/Foreign Currency Vostro Accounts.
The circular provides detailed instructions and guidelines for the operation and maintenance of these accounts, including general instructions, permitted transactions, and specific restrictions.
Chat with the Master Circular: