Based on the provided information, answer the following question: (c) What is the procedure for opening a Special Rupee Vostro Account with an Indian Authorized Dealer Bank ?

The Authorised Dealer Bank approaching the Reserve Bank of India for seeking approval for opening of Special Rupee Vostro Account must submit the following information along with their proposal/request: The details of the arrangement between Authorised Dealer Bank and correspondent bank from the trading partner country along with the funds flow. A brief write-up on the foreign banks seeking correspondent relationship for Special Rupee Vostro Account. Copy of the request letter of the correspondent bank to Authorised Dealer Bank. Confirmation from Authorised Dealer Bank that the due diligence has been carried out by Authorised Dealer Bank which establishes correspondent banking relationship as per RBI extant guidelines. Confirmation from Authorised Dealer Bank stating that the Correspondent Bank is not from a country or jurisdiction in the updated Financial Action Task Force (FATF) Public Statement on High Risk & Non-Co-operative jurisdictions on which Financial Action Task Force (FATF) has called for counter measures. Confirmation from Authorised Dealer Bank that they shall ensure that all the transactions taking place in the Special Rupee Vostro Account of the correspondent bank are strictly in adherence to the instructions issued by Reserve Bank of India. Financial parameters pertaining to the Correspondent Bank as required for the proposal may be obtained beforehand by email to fedcotrade@rbi.org.in and the same may be furnished by Authorised Dealer Bank along with the proposal.