**Policy Summary: RBI Circular No. 08, August 05, 2025 - International Trade Settlement in Indian Rupees (INR)**
This circular, issued by the Reserve Bank of India (RBI) on August 05, 2025, amends existing guidelines regarding international trade settlement in Indian Rupees (INR). Specifically, it modifies Para 10 of A.P. DIR Series Circular No. 10, dated July 11, 2022. The key change is that Authorised Dealer (AD) Category-I banks are now permitted to open Special Rupee Vostro Accounts (SRVAs) of overseas correspondent banks without requiring prior approval from the Reserve Bank of India. This instruction is effective immediately. The circular is issued under the authority of sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999). AD banks are directed to inform their constituents and customers of these changes. For further information, contact the Foreign Exchange Department, Central Office, RBI at fedcotraderbi.org.in or telephone 91-22-22603000. The office is located on the 5th Floor, Amar Building, Sir P.M. Road, Fort, Mumbai – 400 001.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking system.
Indian Rupees: The official currency of India.
Authorised Dealer Category I banks: Banks authorized by the Reserve Bank of India to deal in foreign exchange.
Special Rupee Vostro Accounts: Rupee accounts opened by overseas banks in India to facilitate international trade in Indian Rupees.
Foreign Exchange Management Act, 1999: An act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
N. Senthil Kumar: Chief General Manager, Foreign Exchange Department, Reserve Bank of India.
Mumbai, Maharashtra: A city in India where the Central Office of Reserve Bank of India, Foreign Exchange Department is located.
A.P. DIR Series Circular No. 10 dated July 11, 2022: A circular issued by the Reserve Bank of India related to International Trade Settlement in Indian Rupees.
बेटी बचाओ
बेटी पढ़ाओ
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
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
वर्देशी मुद्रा वर्भाग, केंद्रीय कायावलय, 5र्ी ींमींविल, अमर भर्न, सर पी.एम.रोड, फोर्व मुींबई - 400 001
Foreign Exchange Department, Central Office, 5th Floor, Amar Building, Sir P.M.Road, Fort, Mumbai – 400 001
Telephone: (91-22) 22603000, Email Id – fedcotrade@rbi.org.in
हहिंदी आसान है, इसका प्रयोग बढाइए
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