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VOSTRO HOLDING
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...- India's central bank proposes to boost international usage of rupeeIndia's central bank proposed measures to boost the rupee's global use, including allowing local banks to lend in rupees to businesses in n...
- Rupee-rouble rule: RBI clears path for faster India-Russia paymentsAmid growing interest in rupee-rouble transactions, the Reserve Bank of India has simplified rupee trade settlements with Russia. This move...
- RBI allows 'vostro' accounts to invest entire surplus in government securitiesThe Reserve Bank of India (RBI) has announced that foreign investors can now invest surplus funds from their vostro accounts into central g...
- 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 ...
- 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...
- RBI's reserves effective guard against Vostro holding swingsInvestments of some Russian funds in select securities that were permitted in a specific way are said to have reduced over a period of time...
- Trade game-changer in making? Several countries willing to start trading with India in rupeeNeighbouring Sri Lanka and Bangladesh are keen to start trading with India in rupee immediately. Countries from the Gulf are giving it a se...
- RBI permits banks to open current account for export proceeds in addition to special rupee vostro accountsIn July 2022, the RBI had asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view o...
- Indian Bank to hold special rupee vostro A/cs of Sri Lanka banksThe INR vostro facility is part of a special trade settlement mechanism which was finalized by the Reserve Bank of India (RBI) in July 2022...
- Banks told to have nodal officers to assist trade settlement in Rupee"The government wants that banks proactively encourage traders to use this mechanism, and ensure their departments concerned are fully awar...
- India rupee settlement mechanism draws interest from more nationsTajikistan, Cuba, Luxembourg and Sudan have begun talking to India about using the mechanism, according to two sources and an official docu...
- RBI allows HDFC Bank, Canara Bank to open vostro account for Rupee trade with RussiaThe Reserve Bank of India (RBI) on Monday allowed HDFC Bank Ltd and Canara Bank Ltd to open a special "vostro account" for trade in Rupees ...
- Trade settlement in Re: RBI says fairly good response so farWhile issuing the guidelines, the Reserve Bank said, "The mechanism to settle international trade in the rupee is to promote the growth of ...
- Re vostro accounts: Banks move RBI, flag grey areasThe main concern is how accumulated rupee amounts in these accounts can be repatriated without attracting penalties in case the banks are f...
- What's delaying Re trade with Russia? RBI, Centre want to knowBanks want the regulator and the government to give a clear guidance that would shield them from any action by the US authorities. However,...
- Finance ministry to hold meeting with stakeholders to push overseas trade in rupeeRBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian ru...
- African oil import funds may be put in vostro accounts to settle exporters’ duesThe commerce department has moved a proposal but the final decision rests with the department of financial services and the Reserve Bank of...
- Iran wants to use rupee payment from India to buy government securitiesIran wants to use the rupee payments it receives for exporting oil to India to buy government securities as well as for financing its impor...
- RBI provides more leeway to banks for rupee vostro accountsRBI said that approved dealer banks can now take its permission the first time they enter into such an arrangement with non-resident exchan...
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