The International Financial Services Centres Authority (IFSCA) on November 11, 2025, notified regarding the Reporting of Transactions for India’s External Account Statistics – Additional directions.
The following has been stated namely: -
• The circular revised the framework governing Vostro accounts in IFSC-authorised banks. It specifies updated procedures for the opening, operation, and monitoring of Vostro accounts, including enhanced KYC/AML requirements, tighter fund flow restrictions, and mandated reporting obligations to ensure greater transparency and regulatory alignment with global standards.
• The circular also clarifies that banks shall adhere to the new norms with immediate effect and submit the requisite compliance documentation within designated timelines.
Detailed notification is attached below.
[Notification no. - IFSCA-FMPP0BR/13/2023-Banking]
