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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( 282 kb ) Deposits and Accounts – Accounts of Non-resident banks
RBI/2026-27/251 A.P. (DIR Series) Circular No. 20
September 02, 2026
To
All Authorised Dealer Category-I banks
Madam / Sir
Deposits and Accounts – Accounts of Non-resident banks
Please refer to Para B.2(ii) and B.8(i) of Part B of the A.P. (DIR Series) Circular No.92, dated April 4, 2003 , in terms of which AD banks were required to:
Furnish an up-to-date list of all its offices/branches maintaining Rupee accounts of non-resident banks, as at the end of December each year before 15th January of the following year to the Central Office of Reserve Bank, and
Report temporary overdrawals by overseas branches/ correspondents over permissible limit, if not adjusted within five days, to the Central Office of Reserve Bank.
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On a review, it has been decided to dispense with the above reporting requirements with immediate effect.
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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
(N. Senthil Kumar) Chief General Manager
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