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Corporate Laws Central Ministry of Finance Foreign Exchange Management Act, 1999

RBI issues International Trade Settlement in Indian Rupees (INR)

03-Oct-2025 | RBI/2025-2026/91 A.P. (DIR Series) Circular No. 14

RBI has issued a notification on International Trade Settlement in Indian Rupees (INR) with effect from 03rd October 2025.

As per earlier guidelines (Circular No.10 dated July 11, 2022), balances in Special Rupee Vostro Accounts (SRVAs) can be used to invest in Government Treasury Bills and Government securities, within the prescribed limits and FEMA provisions.
Now, as per the new Circular No.13 dated October 3, 2025, Authorised Dealer Category-I banks (AD banks) can also allow investment of surplus SRVA balances in non-convertible debentures (NCDs), bonds, and commercial papers issued by Indian companies.

AD banks must inform their customers and constituents about this update.

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