Please refer to paragraph 27 of
Regulation-1 of AML/CFT Regulations issued vide BPRD Circular
No. 02 dated September 13, 2012.
2.
With a view to facilitate timely settlement of transactions
by Foreign Portfolio Investors (FPIs), in their Special
Convertible Rupee Accounts (SCRAs), it is advised that
banks/DFIs may reactivate dormant SCRAs upon receipt of
authenticated instructions from the concerned FPI/account
holder. Therefore, the requirement of time-based dormancy
under the aforesaid para shall not apply in case of SCRAs.
3.
All other instructions on the subject shall
however, remain unchanged.
4. Please acknowledge receipt.