Regulatory Alerts2026-09-02
Added · Updated
Deposits and Accounts – Accounts of Non-resident banks
The Reserve Bank of India dispenses with reporting requirements for Authorised Dealer Category-I banks regarding Rupee accounts of non-resident banks. Specifically, AD banks are no longer required to furnish an up-to-date list of offices maintaining such accounts by January 15 each year, nor to report temporary overdrawals by overseas branches or correspondents if not adjusted within five days. These exemptions apply with immediate effect under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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