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Audit Trail Compliance in Accounting Software
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October 2011

A.P. (DIR Series) Circular No. 9, dated 29-8-2011 — Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses.

By Gaurang Gandhi | Chartered Accountant

Reading Time 1 mins

Presently, under the Rupee Drawing Arrangements (RDA), inward remittances for permissible purposes are received in India through Exchange Houses situated in Gulf countries, Hong Kong and Singapore, with prior approval of RBI.

This Circular has extended this facility of RDA under the Speed Remittance procedures to Exchange Houses situated in Malaysia.

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