Master Direction – Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses

Question 1

……………………………………. is a channel to receive cross-border remittances from overseas jurisdictions. Under this arrangement, the Authorised Category I banks enter into tie-ups with the non-resident Exchange Houses to open and maintain their Vostro Account.

Answer 1

Rupee Drawing Arrangement (RDA)

Question 2

Remittances through Exchange Houses under RDA for financing of trade transactions are permitted up to Rs………………………… per transaction.

Answer 2

15,00,000 (Rupees fifteen lakhs only)