Operational Framework Based on the policy frame and the projected financing requirement for each year, management of the capital account is operationalised through procedures for foreign direct investment, portfolio investment, external commercial borrowings, NRI deposits and outflows. The broad approach to targeting of foreign direct investment has been through a dual route, i.e. automatic and non-automatic.
It introduces the concept of dissociating an account from a payment service. Thus, any person can avail the service offered by any operator, bank or non-bank, and tie it with an existing account in another bank. This will allow new payment services to emerge while letting banks maintain their customer base.