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SRVA BANKING
India, UAE step up efforts to expand rupee-dirham tradeOver 15% of India-UAE trade has been invoiced in local currencies since the rupee-dirham mechanism launched nearly three years ago. Both na...- RBI flags US-Iran war's impact on rupee, lists measures to manage forexThe Reserve Bank of India, in its annual report, said the rupee weakened nearly 10% in FY26 due to trade uncertainties, a wider deficit, th...
- Falling rupee triggers curbs on FX positions; more steps likely to attract dollar inflowsThe Indian rupee fell to 95.28 against the US dollar on Tuesday, breaching the 95/$ mark. This decline has led to speculation that the cent...
- Non-residents allowed to invest in corporate debt from special rupee vostro accountsThe move will increase participation in the corporate bond market and make SRVAs attractive as it could fetch higher returns. The SRVA mech...
- RBI allows non-residents to invest rupee surplus in vostro accounts in G-secsThe Reserve Bank of India (RBI) on Tuesday said non-residents maintaining special rupee vostro accounts (SRVA) can invest surplus balances ...
- RBI tweaks procedure for opening special rupee vostro accountsThe Reserve Bank of India (RBI) has eased norms for opening Special Rupee Vostro Accounts (SRVAs), allowing banks to establish these accoun...
- RBI seeks lifting cap on 'vostro' accounts investments to push rupee-denominated trade, sources sayThe Reserve Bank of India (RBI) is seeking government approval to eliminate the 30% cap on foreign banks using vostro accounts to purchase ...
- Banks told to push global trade settlement in RupeeThe government is urging banks to promote settling international trade in Indian rupees, aiming to reduce reliance on the US dollar and low...
- From Russia with love but can money cross street to play equity?The Reserve Bank of India's recent notification aimed at promoting the use of the Indian rupee for international transactions has raised qu...
- Reserve Bank of India rolls out steps to boost Rupee power overseasRBI now allows banks to open rupee accounts at overseas branches for non-residents to facilitate rupee internationalisation. These accounts...
- RBI allows foreigners to open rupee accounts in major moveThe Reserve Bank of India permits overseas branches of banks to open rupee accounts for non-residents, facilitating transactions and invest...
- Centre wants banks to push pedal on special Vostro accounts mechanismThe Indian government asks banks to identify and overcome hurdles in implementing international trade settlements in Indian rupees through ...
- India, Myanmar discuss ways to promote trade through local currenciesIndia and Myanmar discussed promoting bilateral trade using local currencies, rupee and kyat, during a meeting between Commerce Minister Pi...
- Digitalisation will help rupee become global: RBI reportThe Reserve Bank of India (RBI) highlighted in its annual report on Currency and Finance that digitalisation will accelerate the internatio...
- Payment mechanism for traders importing pulses from Myanmar simplified: GovtIndia has simplified the payment mechanism for traders importing pulses from Myanmar, requiring them to use the Rupee/Kyat direct payment s...
- From Russia with love: Corporate bonds may get Vostro funds to boost trade settlement in rupeeEarlier this year, Russian officials said that Moscow had accumulated billions of rupees in Indian banks that couldn't be used. Industry es...
- Govt has started trade with neighbouring countries in INR, says Anupriya PatelThe Indian government has initiated trade in the Indian rupee with its neighbouring countries, including Nepal, Bhutan, Bangladesh and Sri ...
- Banks told to push foreign trade in RupeeWhile many businesses - driven by commercial convenience, balance of payments, and terms of global reinsurers - often prefer to deal in har...
- India-Myanmar bilateral trade may rise significantly once rupee trade settlement mechanism is established: EEPCReserve Bank of India has authorised Punjab National Bank of India to open a special Rupee Vostro Account for foreign trade with Myanmar.
- Banks looking at possibility of rupee trade with Bangladesh, African nationsIndia imported goods worth USD 3,520.83 million from Egypt, of USD 1,004.24 million from Algeria and USD 2,725.08 million from Angola in th...
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