Small and retail market participants get relief! Here is what RBI has issued now
The RBI directions seek to protect small and retail participants, such as small and medium enterprises (SMEs), ensuring that customised products are only offered to large, sophisticated, non-retail users, who are capable of managing attendant risks better.
RBI said that all payments related to IRD transactions of a non-resident may be routed through a rupee account of the non-resident or through a vostro account maintained with a bank in India. Image source: Reuters