Economics · Special Vostro Rupee Accounts (SVRAs)
Consider the following statements regarding Special Vostro Rupee Accounts (SVRAs) used for international trade settlement: I. Funds held in such accounts are maintained and settled in Indian Rupees, and any repatriation of balances takes place only in the same currency. II. Under this mechanism, payments received for India's exports are credited to the account, while payments for India's imports are debited from it. III. The entities maintaining these accounts are not allowed to deploy surplus balances in Indian government securities or Treasury Bills. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1II and III only
- 2I and III only
- 3II only✓
- 4I, II and III
Correct answer
II only
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