5A.2
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Opening and Closing Accounts
(i) Banks may open/close rupee accounts (non-interest bearing) in the names of their overseas branches and correspondents without prior reference to Reserve Bank.
NOTES: (i) Opening of rupee accounts in the names of branches of Pakistani banks operating outside Pakistan requires specific approval of Reserve Bank
(ii) The Head/Principal Office of each bank should furnish an up to date list (in triplicate) of all its offices/branches which are maintaining rupee accounts of non-resident banks as at the end of December every year giving their code numbers allotted by Reserve Bank. The list should be submitted before 15th January of the following year to the Central Office of Reserve Bank (Central Statistical Division). The offices/branches should be classified according to area of jurisdiction of Reserve Bank Offices within which they are situated.