The RBI has circulated new guidelines regarding Special Rupee Vostro Accounts (SRVAs) aimed at facilitating international trade settlements in Indian Rupees. Authorised Dealer Category-I banks are urged to refer to previous circulars for comprehensive understanding.
New Guidelines for Special Rupee Vostro Accounts
On July 17, 2026, the Reserve Bank of India (RBI) issued A.P. (DIR Series) Circular No.19 concerning Special Rupee Vostro Accounts (SRVAs). This circular aims to enhance the framework for international trade settlements in Indian Rupees (INR) and invites all Authorised Dealer Category-I banks to comply with the specified regulations.
The circular refers to previously issued directives, specifically A.P. (DIR Series) Circular Nos. 10, 08, and 11 from 2022 through 2024, which collectively outline the procedural framework for SRVAs. The RBI aims to streamline international transactions and promote the use of INR in global trade.
For practitioners, the implications of these guidelines could further facilitate smoother cross-border transactions and foster a better understanding of compliance requirements related to SRVAs. It is crucial for banks to stay updated with these circulars to ensure adequate adherence to the regulatory framework.
Citations
- Reserve Bank of India Circular A.P. (DIR Series) No.19 (2026)