Searched for
NOSTRO ACCOUNTS
EU age verification app ready as Europe moves to curb children's social media accessThe European Union is launching an age verification app for online platforms. This tool will help parents and guardians protect children. U...- RBI mandates payment of inward remittances on same business dayThe Reserve Bank of India is speeding up money transfers from abroad. Banks must now credit foreign payments to accounts on the same busine...
- RBI ask banks to speed up inward foreign payments with faster alerts, one-hour reconciliationThe Reserve Bank of India has issued new directives to banks. These rules aim to speed up inward cross-border payments. Customers will be n...
- RBI draft norms aim to speed up cross-border remittances, mandate same-day creditThe Reserve Bank of India has proposed measures to speed up cross-border inward remittances, aiming for same-day credit to beneficiaries' a...
- Foreign banks seek leeway on LEF rules for Nostro accountsAt a time when overseas capital flows have been firm, foreign lenders have requested the banking regulator for flexibility in compliance wi...
- Bangladesh moves beyond dollar to settle trade with India in rupeeThe BB has already given permission to three banks - Sonali Bank, Eastern Bank and State Bank of India (SBI) in Bangladesh - to open nostro...
- Banks set to pilot dollar clearing and settlement at IFSCOver the next few months, Wall Street banking biggie JP Morgan, along with several other financial institutions, will carry out a pilot pro...
- How India and Russia can trade directly in rupee-roubleTrade between India and Russia can be directly settled without involving dollar or euro or any other convertible currency.
- SBI seeks attachment of nostro accounts of Bangladesh's Agrani Bank in IndiaThe country’s largest lender has sent a letter to six banks, including HDFC Bank and ICICI Bank, where Agrani Bank has nostro account – or,...
- CBI takes over probe in USD 171 mn illegal fund transfers in UBI in 2016The case, which was being probed by the Mumbai Police, pertains to transfer of about Rs 1,200 crore from the Nostro account of the bank to ...
- PNB scam: CBI seeks details of nostro transactions from 5 banksThe Nostro account refers to an account that a bank holds in a foreign currency in another bank overseas to enable foreign trade by its cli...
- RBI asks banks to do real time assessment of Nostro accountsPNB alleged that Nirav Modi and his associates used the funds received under buyers’ credit to make payments of buyers credits raised earli...
- Axis Bank says it has sold down loans backed by PNB guaranteePNB is in the midst of a Rs 11,300 crore fraud which has been going on since 2010 at the Brady House branch of the bank in Mumbai.
- Union Bank reports cyber breach on offshore accountUnion Bank further said a cyber security forensic audit has been initiated to identify, plug any gaps and strengthen the system.
- Cox & Kings to begin transaction on Nostro account by May-endCox & Kings, which has got licence from the RBI for using foreign currency account, is planning to begin transactions by May-end.
- Rupee-yuan trade platform sans dollar-peg soughtBankers are suggesting a simpler and less expensive mechanism that would bypass the dollar and allow trade payments in local currencies.
- RBI asks banks to closely monitor nostro accountsTo improve monitoring of accounts that are opened by a bank with an overseas bank in the currency of the foreign country, the Reserve Bank ...
- Pay interest for delay in dollar-denominated cheques: RBIAcknowledging the customer complaints on delay in collection of dollar-denominated cheques, RBI asked all urban co-operative banks to revam...
- Local banks cut exposure to risky global peers, shift nostro a/cBanks are moving their nostro accounts to banks they perceive as ‘safe’.
- Clearing Corp may soon settle $ deals in IndiaSoon, banks may not need to maintain foreign currency accounts with US banks for settling dollar transactions.
Load More
