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

RBI issues Investment in Corporate Debt Securities by Persons Resident Outside India through Special Rupee Vostro Account

03-Oct-2025 | RBI/2025-2026/90 A.P. (DIR Series) Circular No. 13

RBI has issued a circular on Investment in Corporate Debt Securities by Persons Resident Outside India through Special Rupee Vostro account with effect from 03rd October 2025. With respect to A.P. (DIR Series) Circular No. 9 dated August 12, 2025, non-residents who maintain Special Rupee Vostro Accounts (SRVAs) for settling international trade in Indian Rupees were earlier allowed to invest their surplus rupee balances in Central Government Securities, including Treasury Bills. Reserve Bank has now decided to expand investment options for these SRVA balances. Non-resident account holders can now also invest their SRVA balances in non-convertible debentures (NCDs), bonds, and commercial papers issued by Indian companies. Through this circular, Master Direction - Reserve Bank of India (Non-resident Investment in Debt Instruments) Directions, 2025 has been updated. In furtherance, several provisions have been amended, and the ambit of eligible instruments has also been extended. For more information, please refer to the attached document.

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