AD Cat-I banks may open additional special current accounts for its constituents to settle export & import transactions
Editorial Note : Earlier, RBI vide circular dated 17.11.2023, permitted AD Category-I banks maintaining Special Rupee Vostro Account on International Trade Settlement in Indian Rupees (INR) to open an additional special current account for its constituents, exclusively for settlement of export transactions. Now, the facility of opening an additional special current account can be extended for settlement of their export as well as import transactions