Special Rupee Vostro Accounts (SRVAs)
UR
- Applies toBanks that handle foreign money
- StatusIn force
- IssuedJul 17, 2026
- Amendmentsnone tracked
- Length11 points in 5 sections · 1 min read
The four dates on this rule
- PublishedJul 17, 2026The day RBI put this document out. This is the same day as the Issued date on this rule.
- Starts to applyJul 17, 2026The day this rule starts to apply, as RBI's own text states it.
- Time to get readyNoneIt starts to apply on the day it was published.
- Last date to actNot statedNo date to act by was found in this document. Other dates may sit inside single paragraphs.
This rulebook is short, and the page is short with it. The real operative content of this circular is paragraphs 2 to 9. That is about 500 words once the header, salutation, five superseded circulars and the Annex table are set aside. The Annex only restates those same nine paragraphs. These eleven points cover every fact and duty the document states. Nothing more is there to quote without inventing content RBI never wrote.
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What it says
How firm is each point
Stated by RBI — RBI’s own paragraph says this. We have only made it plainer.
Our reading — BankPulse read RBI’s paragraph and shortened it. The paragraph is the authority, not this line.
Needs judgement — RBI leaves this to the bank to settle, so nobody can give you a fixed number here.
Must know
1. Who may open an SRVA
A bank that handles foreign money may open an SRVA for its foreign branch or a bank outside India.
2. What an SRVA does
SRVA settles trade payments for exports and imports in rupees.
3. How an SRVA is funded
Money can come in as remittances or transfers from other rupee accounts.
4. Other proceeds may sit here
Money from other allowed transactions can also stay in the SRVA.
5. Effective immediately
These rules apply from the date of this circular.
Do it
1. Extra account allowed too
The bank may also open a current account for that exporter or importer.
2. SRVA investments follow rules
Debt investments from SRVA funds follow a separate RBI rule for non-residents.
3. Follow FEMA reporting rules
Documenting and reporting SRVA transactions must follow existing FEMA rules.
4. Tell customers about this
The bank may inform its customers about this circular.
Background
1. Old circulars replaced
This circular replaces five earlier circulars on rupee vostro accounts.
2. Legal basis for this circular
This circular is issued under sections 10(4) and 11(1) of FEMA.