Nostro Account definition

Nostro Account means the current account of a Member with its Correspondent Bank.
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Nostro Account means the current account of a Member
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Nostro Account means a bank account established in a foreign country usually in the currency of that country for the purpose of carrying out transactions there.
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Examples of Nostro Account in a sentence

  • Such compensation will be given for delays beyond one week from the date of credit to Nostro Account/ due date after taking into account normal cooling period stipulated.

  • However, the bank will compensate the customer for undue delays in affording credit once proceeds are credited to the Nostro Account of the bank with its correspondent.

  • Opening of Nostro Account by Authorised Dealers Category-II Authorised Dealers Category-II may open Nostro Accounts after getting one time approval from the Reserve Bank, subject to following terms and conditions.

  • Through State Bank of India Nostro Account: NAME OF BANKSCURRENCYA/C NUMBERSWIFT BICSBI FrankfurtEUR52607101120001SBINDEFFSBI LondonGBP35601SBINGB2LSBI TokyoJPY10177001220001SBINJPJTSBI New YorkUSD77600125220002SBINUS33 In witness whereof, the Bank, through its authorised officer, has set its hand and stamp on this ........

  • The aggregate amount of drafts drawn in foreign currency by the Exchange House on any day should be credited to the Nostro Account of the drawee bank latest by close of business on the second working day.

  • Through State Bank of India Nostro Account: NAME OF BANKSCURRENCYA/C NUMBERSWIFT BICSBI FrankfurtEUR52607101120001SBINDEFFSBI LondonGBP35601SBINGB2LSBI TokyoJPY10177001220001SBINJPJTSBI New YorkUSD77600125220002SBINUS33 Any claim under this Guarantee must be received by us on or before(Indicate date of expiry of claim period which includes minimum one year period from the date of expiry of this bank guarantee).

  • Payment of such drafts shall be made by debit to this account maintained by the Exchange House and not to the Nostro Account of the AD Category-I bank.

  • Cheques drawn on foreign banks at centers where the bank or its correspondents do not have direct presence, will be sent direct to the drawee bank with instructions to credit proceeds to the respective Nostro Account of the bank maintained with one of the correspondent banks after taking into account cooling periods as applicable to the countries concerned.

  • Cheques drawn on foreign banks at centres where the bank or its correspondents do not have direct presence will be sent direct to the drawee bank with instructions to credit proceeds to the respective Nostro Account of the bank maintained with one of the correspondent banks.

  • Module IExchange Rate - History of exchange control in India - Features of Foreign Exchange Regulation Act, 1973 (FERA) - Foreign Exchange Management Act, 1999 -Administrative set up of foreign exchange in India - Foreign Exchange Dealers' Association of India (FEDAI) - Functions of Foreign Exchange Department - Nostro Account - Vostro Account - Loro Account.


More Definitions of Nostro Account

Nostro Account means a USD nostro account in the name of FRB held with XX Xxxxxx Xxxxx Bank, N.A., New York.
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Nostro Account means an account that:
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Nostro Account means the current account of a Member with its CorrespondentBank.
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Related to Nostro Account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Investment Account As defined in Section 3.12(a).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • JetBrains Account or “JBA” means an account at xxxxx://xxxxxxx.xxxxxxxxx.xxx created by Customer, having a unique name and password, and through which Customer has access to Products in accordance with a Toolbox Subscription.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Master Account or “Judicial Council’s Master Account” shall mean the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Private Account means the portion of a portfolio of a private client or mutual fund client for which the Adviser serves as investment adviser or subadviser.

  • Merchant Account means any account with an Acquirer or other Financial Institution, service provider, payment processor, independent sales organization, or other entity that enables an individual, a business, or other organization to accept payments of any kind.