Reserve Bank of India [RBI] videRBI/2013-14/516 A. P. (DIR Series) Circular No. 111 dated March 13, 2014 has reviewed and modified the A.P. (DIR Series) Circular No. 28 [A. P. (FL/ RL Series) Circular No. 02] dated February 6, 2008 on Memorandum of Instructions for Opening and Maintenance of Rupee/ Foreign Currency Vostro Accounts of Non-resident Exchange Houses, as amended from time to time.
On review of the Permitted Transactions under the Rupee Drawing Arrangements (RDAs), RBI has decided to increase the limit of trade transactions from the existing Rs 2,00,000/- (Rupees Two Lakh only) per transaction to Rs 5,00,000/- (Rupees Five Lakh only) per transaction, with immediate effect.
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