RBI Simplifies Special Rupee Account Rules to Boost INR Trade

• 16 August 25

RBI Simplifies Special Rupee Account Rules to Boost INR Trade

The Reserve Bank of India (RBI) has taken a major step to promote international trade in Indian Rupees (INR) by simplifying the process of opening Special Rupee Vostro Accounts (SRVAs).

Earlier, banks needed RBI’s prior approval before setting up these rupee-denominated accounts with foreign banks. Now, Authorised Dealer (AD) Category-I banks can open SRVAs directly, without waiting for regulatory clearance. This change will make cross-border transactions in INR faster, easier, and more attractive for global partners.

What are Special Rupee Vostro Accounts (SRVAs)?

SRVAs were introduced in July 2022 to encourage trade settlements in INR instead of relying on third-country currencies like the US Dollar or Euro. Through these accounts, Indian exporters and importers can:

• Invoice and settle trade directly in INR

• Avoid currency conversion losses

• Build stronger trade ties with international partners

By removing the approval requirement, RBI has given Indian banks more flexibility to expand INR-based transactions globally.

Why This Move Matters

This decision aligns with India’s broader vision of making the rupee a stronger global trade currency. Key benefits include:

• Faster onboarding of international trade partners
• Reduced dependency on USD & Euro for settlements
• Improved liquidity in INR across global trade channels
• Boost for Indian exporters and importers through simplified compliance

For businesses, this means smoother operations, greater confidence in using INR for trade, and an opportunity to leverage India’s growing global financial presence.

What It Means for Wisecor Clients

At Wisecor, we see this as a positive shift for companies engaged in cross-border trade, compliance, and financial operations. The simplified SRVA process will not only reduce delays but also create opportunities for businesses to explore cost-effective trade in INR.

Wisecor will continue to help businesses adapt to these regulatory changes with the right financial, compliance, and advisory solutions to make global trade easier.