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A letter on Aug. 3, 2016 from the RBI to bank executives warned of“a recent incident involving attempted unauthorized transfer of funds from the nostro account of a bank”.

The RBI asked the top management of Indian banks to not only ensure that appropriate controls were in place, but also to reconcile their nostro account transactions – that is, to check that they matched their banks’ internal records.

A letter on Aug. 3, 2016 from the RBI to bank executives warned of“a recent incident involving attempted unauthorized transfer of funds from the nostro account of a bank”.

The RBI asked the top management of Indian banks to not only ensure that appropriate controls were in place, but also to reconcile their nostro account transactions – that is, to check that they matched their banks’ internal records.