Reserve Bank Of India
A. P. (DIR Series) Circular No. 109
April 18, 2012
To,
All Authorised Persons in Foreign Exchange
Madam/ Sir,
Authorised Dealer Category II – Permission for additional activity and opening
of Nostro account
Attention of Authorised Persons is invited to Para 3 of A. P. (DIR Series)
Circular No. 104 dated April 4, 2012 on the captioned subject.
- Authorised Dealer Category-II entities desirous of opening Nostro accounts
may approach the Reserve Bank for a one time approval to open and operate Nostro
accounts.
- All other instructions contained in the A.P. (DIR Series) Circular No. 104
dated April 4, 2012 shall remain unchanged.
- Authorised Persons may bring the contents of this circular to the notice of
their constituents concerned.
- The directions contained in this Circular have been issued under Sections
10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and
are without prejudice to permissions/approvals if any, required under any other
law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager
RBI/2011-12/512