>[!summary]- Table of Contents: Deposits and Accounts > - [By a person resident outside India](Deposits%20and%20Accounts.md#By%20a%20person%20resident%20outside%20India) > - [Accounts in India](Deposits%20and%20Accounts.md#Accounts%20in%20India) > - [(Rupee) Accounts outside India](#(Rupee)%20Accounts%20outside%20India) > - [Summary](#Summary) > - [By a person resident in India](#By%20a%20person%20resident%20in%20India) > - [Accounts in India](#Accounts%20in%20India) > - [(FCY & Rupee) Accounts outside India](#(FCY%20&%20Rupee)%20Accounts%20outside%20India) > - [Deregulation of Interest Rates on Deposits](#Deregulation%20of%20Interest%20Rates%20on%20Deposits) > - [Act/Regulations/Directions](#Act/Regulations/Directions) > - [Data Releases](#Data%20Releases) > - [Related Notes](#Related%20Notes) > - [References](#References) ## By a person resident outside India 1. This part is on Opening, holding and maintaining accounts (rupee and foreign currency accounts) in India by a person resident outside India. 2. Any net balances in these accounts are just like capital inflows. 3. Any net increase/decrease in balances of these accounts is recorded as a capital inflow/outflow under "Other Investments" in the Balance of Payments. ### Accounts in India 1. Here 'Non-Resident Indian (NRI)' means a person resident outside India who is a citizen of India. 2. Persons of Indian origin [PIO](https://www.rbi.org.in/Scripts/NotificationUser.aspxId=10325&Mode=0#F1:~:text=x%20%E2%80%98Person%20of%20Indian%20Origin%20(PIO)%E2%80%99) *(PIO cardholders are deemed OCI cardholders from Sept 2019)* for these regulations mean citizens of foreign nations (other than Pakistan or Bangladesh) but were citizens of India in the past. 3. **Rupee Accounts** ^bc9e68 1. **Only for Indian citizens** - It includes both [PIO](https://www.rbi.org.in/Scripts/NotificationUser.aspxId=10325&Mode=0#F1:~:text=x%20%E2%80%98Person%20of%20Indian%20Origin%20(PIO)%E2%80%99)and NRIs. 1. under the Non-Resident (External) Account Scheme ==(called NR(E) RA or NR(E)/NRE accounts)==, specified in [Schedule 1](https://rbidocs.rbi.org.in/rdocs/content/pdfs/SCH040416_1.pdf)of [FEM (Deposit) Regulations, 2016](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10325&Mode=0), to deposit foreign currency from outside India (foreign currency funds) in rupees. 2. **For any person resident outside India** 1. under the Non-Resident (Ordinary) Account Scheme, ==(NRO account)==, specified in [Schedule 3](https://rbidocs.rbi.org.in/rdocs/content/pdfs/SCH040416_3.pdf). They can be either savings or current (non-interest bearing) accounts. 2. [[Deposits and Accounts#(Rupee) Accounts outside India|SNRR]] - Special Non-Resident Rupee (SNRR) Accounts 3. ==A short history of [deregulation of interest rates](Deregulation%20of%20Interest%20Rates%20on%20Deposits.md) on deposits.== 4. **Foreign/Correspondent Banks (of the trading partner)** ^19b51a 1. Regulation 7(1) of the FEM (Deposit) Regulations, dated April 1, 2016 allows AD banks in India to open INR Vostro accounts of the AD bank’s correspondent outside India with RBI's permission. They are INR account held by foreign banks with Indian banks in INR. 2. Special Rupee Vostro accounts (SRVA) - RBI announced a new type of account, Special INR Vostro Account, for settlement of trade transactions in INR, on [July 11, 2022](RBI_Notification_20220711_International%20Trade%20Settlement%20in%20Indian%20Rupees%20INR.pdf) to continue trade transactions between Russia which was sanctioned by US due to its invasion of Ukraine. 3. They are special Rupee Vostro accounts held by foreign banks/overseas correspondents with AD Category-I banks for *settlement of trade transactions*. 4. [FAQs](https://www.rbi.org.in/commonman/English/Scripts/FAQs.aspx?Id=3373) - Special Rupee Vostro Account (SRVA). 5. UCO Bank became the first bank after July's announcement to open a SRVA with Gazprom Bank of Russia. Subsequently, other Russian banks opened their own SRVAs with several Indian banks. 6. Banks of Mauritius, Sri Lanka have also opened SRVA accounts with SBI, Indian Bank and others. 7. 2023 - India and UAE also entered into the [[Agreements between UAE and India|agreement]] to settle trade in rupees. 8. [Aug 5, 2025](RBI_Press%20Release_20250805_International%20Trade%20Settlement%20in%20Indian%20Rupees%20(INR)%20–%20Revised%20procedure%20for%20opening%20of%20Special%20Rupee%20Vostro%20Account%20(SRVA).pdf) -  it was decided to do away with the need for seeking RBI approval for opening of SRVA 9. [Aug 12, 2025](RBI_Notification_20250812_Investment%20in%20Government%20Securities%20by%20Persons%20Resident%20Outside%20India%20through%20Special%20Rupee%20Vostro%20account.pdf) - RBI further relaxed rules, permitting funds in these accounts to be [invested](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12765) freely in government securities and treasury bills, without registering as a FPI. 1. It is covered in Master Direction - *Reserve Bank of India (Non-resident Investment in Debt Instruments) Directions*, 2025 10. [Feb 7, 2025](Sansad_20250207_Internationalisation%20of%20Indian%20Rupee.pdf) - In Rajya Sabha, it was informed that RBI has permitted 123 Correspondent banks from 30 trading partner countries for opening of total 156 SRVAs with 26 AD banks in India. As of Nov 2025, many Sri Lankan banks like Seylan Bank, NDB Bank, People’s Bank of Sri Lank, etc. have also opened SRVA with Indians banks like SBI, Indian Bank, etc. 11. ==Related Note - [International Trade settlements in INR](Trade%20Payments.md#International%20Trade%20settlements%20in%20INR)== 12. **The issue of balances:** 1. [August 12, 2025](https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12890&Mode=0) -  RBI allowed balances in SRVA to be invested in central government securities (including treasury bills). 2. [October 3, 2025](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12909&Mode=0) - RBI allowed balances in SRVA to be invested in corporate debt securities (including treasury bills). 3. Other options are paying for imports from other countries (like a multilateral system), converting it into currencies (other than those not allowed), or using barter system. 13. **Benefits** 1. It helps (only) countries which face issues with convertibility of their currencies to freely convertible currencies. 2. It reduces reliance on US dollar for the trading countries, and increases odepdemand for the Indian Rupee promoting [internationalisation of INR](RBI_Reports_20230705_Report%20of%20the%20Inter-Departmental%20Group%20(IDG)%20on%20Internationalisation%20of%20INR.pdf) 3. Since there is no conversion to USD, payment costs is reduced. 4. This also protects Indian businesses from the exchange rate volatility. So there is exchange rate risk for the foreign (non-resident) side. 5. In case of trade deficits with the trading partner, India does not have to use its reserves. 4. **Foreign Currency Accounts** ^1d69f3 1. It is only for Indian citizens, that is, both [PIO](https://www.rbi.org.in/Scripts/NotificationUser.aspxId=10325&Mode=0#F1:~:text=x%20%E2%80%98Person%20of%20Indian%20Origin%20(PIO)%E2%80%99)and NRIs. 2. FCNR(B) accounts are opened under the Foreign Currency (Non-Resident) Account (Banks) scheme, in form of term deposits, specified in [Schedule 2](https://rbidocs.rbi.org.in/rdocs/content/pdfs/SCH040416_2.pdf) of [FEM (Deposit) Regulations, 2016](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10325&Mode=0) . 1. The scheme was introduced with effect from May 15, 1993. 2. In this case, the foreign exchange risk is borne by RBI. 3. FCNR(A) accounts were opened under the Foreign Currency (Non-Resident) Accounts scheme in certain foreign currencies 1. The scheme was withdrawn with effect from 15th August 1994. 2. RBI provided the exchange rate guarantees on them which impacted the central bank’s balance sheet and thus were a source of semi-fiscal costs for the govt. 4. FCONR accounts were opened under the Foreign Currency (Ordinary - Non-Repatriable) Deposit Scheme 1. They were denominated in U.S. dollar 2. It was withdrawn with effect from 20th August 1994. 5. A [table](https://www.rbi.org.in/commonman/English/scripts/FAQs.aspx?Id=3#:~:text=that%20can%20be-,opened%20in%20India%20by%20a%20non%2Dresident%3F,-Particulars) of comparison of NRE, NRO, FCNR(B) account. 6. ==So NRI accounts are NRE, FCNR(B), NRO accounts== ### (Rupee) Accounts outside India 1. SNRR - Special Non-Resident Rupee (SNRR) Accounts ^03c1b2 1. **They are for any person resident outside India** 2. On [January 21, 2016](https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=59538), RBI allowed these accounts to be opened by ==a bank with its branch outside India==. It also allowed the account to be used for settlement of all permissible current account and capital account transactions. 3. [FPIs](Foreign%20Investment%20in%20India%20(Various%20Routes).md#1.%20FPI%20(Debt%20&%20Equity)-%20Foreign%20Portfolio%20Investments) have to open this account for their investments under the through the [Voluntary Retention Route (VRR)](Foreign%20Investment%20in%20India%20(Various%20Routes).md#Voluntary%20Retention%20Route%20(VRR)) route. 4. Thus, SNRR accounts can now be opened with an authorised dealer in India or its branch outside India. 5. With these amendments, the provision on SNRR accounts in [FEM (Deposit) Regulations, 2016](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10325&Mode=0) is to be understood as allowing a person resident outside India, having business interest in India, to open a Special Non-Resident Rupee Account (SNRR account), with an authorised dealer in India or its branch outside India for the purpose of putting through permissible current and capital account transactions with a person resident in India in accordance with the rules and regulations framed under the Act, and for putting through any transaction with a person resident outside India. 1. So they are Rupee accounts held by non-resident entity for any permitted business activity like ECB in INR, trade credits in INR, trade (Export/ Import) invoicing in INR, foreign investments, etc. 2. The SNRR account shall carry the nomenclature of the specific business for which it is in operation. 3. In other words, permissible transactions are Debits and credits specific/ incidental to the business proposed to be done by the account holder. 4. They are non-interest bearing and repatriable. 6. Any net balances in these accounts are just like capital inflows. 7. [FAQs](https://www.rbi.org.in/commonman/English/Scripts/FAQs.aspx?Id=3259) - **Special Non-Resident Rupee Accounts (SNRR)** 1. The provisions of these FAQs will not apply to the SNRR accounts of FPIs, FVCIs and Depository Receipt / FCCB conversion accounts which are operated by a custodian and fall under para 7.1 (i) of Part II of the [Master Directions on Deposits and Accounts](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198). ### Summary 1. Both SNRA and SRVA accounts can also be used by non-residents to pay to other non-residents. 2. A [table](https://www.rbi.org.in/commonman/English/scripts/FAQs.aspx?Id=3#FQ6:~:text=The%20differences%20between%20SNRR%20account%20and%20NRO%20account%20are) of comparison between SNRR account and NRO account *(both are for any person resident outside India). 3. [FAQs](https://www.rbi.org.in/commonman/English/scripts/FAQs.aspx?Id=3#FQ6) - **Accounts in India by Non-residents** 1. Paragraph 5 in [FEM (Deposit) Regulations, 2016](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10325#:~:text=Acceptance%20of%20deposits%20by%20an%20authorised%20dealer/%20authorised%20bank%20from%20persons%20resident%20outside%20India%3A%2D) covers "Acceptance of deposits by an authorised dealer/ authorised bank from persons resident outside India". ## By a person resident in India ### Accounts in India 1. **Rupee (Resident Rupee accounts) - It is for both citizens and non-citizens of India** 1. These are regular savings, current and term deposit accounts offered by banks. 2. The term deposit interest rates for residents (and under Ordinary Non-Resident [(NRO)](https://www.rbi.org.in/commonman/english/scripts/Notification.aspx?Id=1066#7:~:text=1.2.%20Ordinary%20Non%2DResident%20(NRO)%20Accounts) accounts) were already deregulated with effect from October 22, 1997. 3. In November 2010, RBI placed a [discussion paper](https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2344) on deregulation of savings bank deposit interest rates. 4. The savings bank deposit interest rate was finally deregulated with effect on [October 25, 2011](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6844&Mode=0). It had remain unchanged at 3.5% since March 1, 2003. 5. [Master Direction](https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10296) - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 2. **Foreign currency accounts - some are for citizens and others for foreign/non-citizens residing in India** 1. Resident Foreign Currency (RFC) Account - [RFC Account](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#:~:text=Resident%20Foreign%20Currency%20(RFC)%20Account%20%E2%80%93%20RFC%20Account) 2. Resident Foreign Currency (Domestic) Account – [RFC (D) Account](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#:~:text=Resident%20Foreign%20Currency%20(Domestic)%20Account%20%E2%80%93%20RFC%20(D)%20Account) 3. Diamond Dollar Account (DDA) Scheme – [DDA Account](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#:~:text=Diamond%20Dollar%20Account%20(DDA)%20Scheme%20%E2%80%93%20DDA%20Account) 4. Exchange Earners Foreign Currency ([EEFC](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#:~:text=Currency%20(EEFC)%20Account%20%E2%80%93-,EEFC%20Account,-A%20person%20resident)) Account 1. It is a foreign currency current [account](https://www.rbi.org.in/commonman/english/scripts/FAQs.aspx?Id=11) that allows exporters and others who earn foreign exchange to retain their earnings in foreign currency instead of converting them immediately into INR. 2. It also helps to avoid unnecessary conversion costs and gives the account holder a flexibility to convert the the balances in the foreign currency into rupees later based on business needs or exchange rate movements. 3. They can pay in INR to foreign banks rupee vostro accounts held with Indian banks if there is an existing arrangement for the same. 5. [Other accounts](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#:~:text=or%20forward%20commitments.-,3.5,-Indian%20agent%20of) 6. Unless otherwise specifically stated, a foreign currency account maintained by a person resident in India with an authorized dealer in India under the FEM (Foreign Currency Accounts by a person resident in India) Regulations, 2015, dated January 21, 2016 as amended from time to time, may be opened, held and maintained in the form of current or savings or term deposit account in cases where the account holder is an individual, and in the form of current account or term deposit account in all other cases 7. **Regulations** 1. FEM (Foreign Currency Accounts by a person Resident in India) [Regulations](https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12916&Mode=0), 2015 1. On [January 1, 2016](https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10261&Mode=0), FEM (Foreign Currency Accounts by a person Resident in India) Regulations, 2000 was repealed and replaced by FEM (Foreign Currency Accounts by a person Resident in India) [Regulations](https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12916&Mode=0), 2015 [^3] with effect from January 21, 2016. 2. [Master Direction](https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198) - Deposits and Accounts 3. [FAQ](https://www.rbi.org.in/commonman/english/scripts/FAQs.aspx?Id=357) - Foreign Currency Accounts by Resident Individuals ### (FCY & Rupee) Accounts outside India 1. **FCY accounts** 1. Regulatory framework 1. Regulations - RBI has made [FEM (Foreign currency accounts by a person resident in India) Regulations, 2015](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10444&Mode=0), for opening, holding and maintaining of FCY (in India, and outside India) and the limits up to which amounts can be held in such accounts by a person resident in India 2. [Master Direction](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198) - Deposits and Accounts 2. Permissible purposes - RBI allows foreign currency accounts to be held outside India for [these](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#:~:text=Foreign%20Currency%20Accounts%20that%20can%20be%20held%20outside%20India) purposes, by residents in India who are citizens and foreign citizens in India. 3. [Jan 14, 2025](RBI_Notification_20250114_Foreign%20Exchange%20Management%20(Foreign%20Currency%20Accounts%20by%20a%20person%20resident%20in%20India)%20(Fifth%20Amendment)%20Regulations,%202025.pdf) - RBI allowed all all resident exporters to open FCY accounts overseas for settling trade transactions, subject to ensuring the applicable realisation and repatriation provisions, through the amendment FEM (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025. 1. The aim was to support exporters who receive payments in local currencies and may require such foreign currency accounts to hold these currencies and to pay for imports from that territory, and thereby settle such trade transactions in local currencies of trading partner countries. 2. Before this, it was only for exporters undertaking project exports. 4. [Oct 6, 2025](RBI_Notification_20251006_Foreign%20Exchange%20Management%20(Foreign%20Currency%20Accounts%20by%20a%20person%20resident%20in%20India)%20(Seventh%20Amendment)%20Regulations,%202025.pdf) - RBI allowed to open FCY accounts in IFSC IBUs as well, and hold the FCY for up to 3 months or 1 month in other jurisdictions, through FEM (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025. 2. **Rupee accounts** 1. It does not allow residents to open rupee accounts outside India except for few cases. ==Definition of an Overseas Citizen (OCI)== - April 12, 2018 - The definition of an Overseas Citizen (OCI) was revised as a person resident outside India who is registered as an Overseas Citizen of India Cardholder under Section 7 (A) of the Citizenship Act, 1955. ## Deregulation of Interest Rates on Deposits 1. A short history on [deregulation of interest rates](Deregulation%20of%20Interest%20Rates%20on%20Deposits.md) of rates on deposits in India ## Act/Regulations/Directions 1. **Act** - clause (f) of sub-section (3) of section 6 (*defines scope of RBI's regulation*), sub-section (2) of section 47 *(powers to issue guidelines)* of the Foreign Exchange Management Act, 1999 governs (cross-border deposits) deposits between between a person resident in India and a person resident outside India 2. [FEM (Manner of Receipt and Payment) Regulations, 2023](https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12579&Mode=0), dated Dec 1, 2023 1. [FEM (Manner of Receipt and Payment) Regulations, 2016](RBI_Regulations_20160502_Foreign%20Exchange%20Management%20(Manner%20of%20Receipt%20and%20Payment)%20Regulations,%202016_WITHDRAWN.pdf), amended up to March 4, 2020. *(WITHDRAWN) 3. [FEM (Deposit) Regulations, 2016](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10325&Mode=0) with effect from April 1, 2016 superseded and replaced the FEM (Deposit) Regulations, 2000 as amended from time to time. 1. Maintenance of deposits/ accounts between a person resident in India and a person resident outside India is regulated in terms of sub-section (3) of section 6 of the Foreign Exchange Management Act, 1999 (FEMA) read with Foreign Exchange Management (Deposit) Regulations, 2016 4. [FEM (Foreign Currency Accounts by a person Resident in India) Regulations, 2015](https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12916) 1. On [January 1, 2016](https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10261&Mode=0), FEM (Foreign Currency Accounts by a person Resident in India) Regulations, 2000 was repealed and replaced by FEM (Foreign Currency Accounts by a person Resident in India) [Regulations](https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12916&Mode=0), 2015 [^3] with effect from January 21, 2016. 2. [FAQ](https://www.rbi.org.in/commonman/english/scripts/FAQs.aspx?Id=357) - Foreign Currency Accounts by Resident Individuals 5. [FEM (Debt Instruments) Regulations, 2019](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12099&Mode=0) notified, vide [Notification No. FEMA. 396/2019-RB dated October 17, 2019](https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12099&Mode=0) 1. *This is mentioned here as balances in some accounts are allowed to be invested in debt instruments.* 6. FEM (Borrowing and Lending) [Regulations]((https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11441&Mode=0), 2018 1. [Master Direction](https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10191) – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin 7. FEM (Export of Goods & Services) [Regulations](https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10256&Mode=0), 2015 8. [Master Direction](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198) - Deposits and Accounts 1. [Part II](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#P1:~:text=2-,Part%20II%20%2D%20Opening%2C%20holding%20and%20maintaining%20accounts%20in%20India%20by%20a%20person%20resident%20outside%20India,-3) - Opening, holding and maintaining accounts (rupee and foreign currency accounts) in India by a person resident outside India 2. [Part III]((https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10198#P3)- Provisions pertaining to Vostro Accounts 9. [Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2025](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12825#20) 1. It replaced the [Master Direction-Reserve Bank of India (Interest Rate on Deposits) Directions, 2016](https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10296) 10. [Master Direction](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10395) - Export of Goods and Services, January 1, 2016 1. Export of Export of Goods and Services from India - This is governed by Section 7 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R. 381(E) dated May 3, 2000 2. Rules - Foreign Exchange Management (Current Account Transactions) [Rules](https://incometaxindia.gov.in/Documents/Provisions%20for%20NR/provision-for-non-resident-fema-current-account-transactions-rules-2000.htm), 2000 11. Master Direction – [Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10205), dated Jan 1, 2016 12. Master Direction - [Reserve Bank of India (Non-resident Investment in Debt Instruments) Directions, 2025](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12765), dated Jan 7, 2025 13. [FAQs](https://www.rbi.org.in/commonman/English/Scripts/FAQs.aspx?Id=3373) - Special Rupee Vostro Account (SRVA) since [July 11, 2022](https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12358&Mode=0). 14. [FAQs](https://rbi.org.in/scripts/FAQView.aspx?Id=151) - International Trade Settlement in Indian Rupees (INR) 15. [FAQs](https://www.rbi.org.in/commonman/English/Scripts/FAQs.aspx?Id=3259) - Special Non-Resident Rupee (SNRR) Accounts 16. [FAQs](https://www.rbi.org.in/commonman/English/scripts/FAQs.aspx?Id=3#FQ6) - Accounts in India by Non-residents 17. [FAQs](https://www.rbi.org.in/commonman/english/scripts/FAQs.aspx?Id=11) - EEFC Account 18. [FAQs](https://www.rbi.org.in/commonman/english/scripts/FAQs.aspx?Id=325) - Reserve Bank’s Instructions on Banking Matters by *Department of Banking Operations & Development* 19. ==More in the note [Exports & The RBI](Exports%20&%20The%20RBI.md#Act/Rules/Regulations/Master%20Directions)== ## Data Releases 1. RBI Monthly Bulletin - NRI Deposits ## Related Notes 1. [Deregulation of Interest Rates on Deposits](Deregulation%20of%20Interest%20Rates%20on%20Deposits.md) 2. [Trade Payments](Trade%20Payments.md) 3. [[Bilateral Trade Payments between India and Iran]] 4. [Inward Remittances (Private Transfers)](Inward%20Remittances%20(Private%20Transfers).md) 5. [Measures to stabilise the exchange market](Measures%20to%20stabilise%20the%20exchange%20market.md) - *(especially 2013)* ## References ### [[Publications (Data Releases) & Research#Research|Research]] [Groups/Committees](Groups%20and%20Committees.md) 1. RBI (May, 2004). ==Report of the Advisory Committee to Advise on the Administered Interest Rates and Rationalisation of Saving Instruments== (Chairman: Dr. Rakesh Mohan). [Link](https://rbidocs.rbi.org.in/rdocs//PublicationReport/Pdfs/55456.pdf) | [pdf](RBI_Group:Committee_200405_Report%20of%20the%20Advisory%20Committee%20to%20Advise%20on%20the%20Administered%20Interest%20Rates%20and%20Rationalisation%20of%20Saving%20Instruments.pdf) ### [[Publications (Data Releases) & Research#Publications|Publications]] 1. Box VIII.3 - Internal Group on External Liabilities of Scheduled Commercial Banks in RBI's Annual Report-2004. [pdf](RBI_Annual%20Report_2004.pdf#page=135&selection=117,0,118,68)