The Reserve Bank of India (RBI) on June 29, 2026, issued an update to the Master Direction – Deposits and Accounts to consolidate the regulatory framework governing foreign currency accounts and deposits under the Foreign Exchange Management Act (FEMA), 1999.
The following has been stated:
The amendment incorporates directions relating to Vostro Accounts of Non-Resident Banks into the Master Direction, introduces a new Part III covering Special Rupee Vostro Accounts and Vostro Accounts of Non-Resident Exchange Houses, and provides a consolidated framework for maintenance of such accounts. All other instructions under the Master Direction continue to remain applicable.
Please refer to the document attached below for more details.
[RBI/FED/2015-16/9]
