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SPECIAL VOSTRO ACCOUNT
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...06 May, 2026, 06.13 AM IST- India, Kenya discuss possibility of trade settlement in local currenciesIndia and Kenya are exploring trade settlements in their own currencies. Discussions also covered digital payment systems like UPI. A joint...29 Apr, 2026, 05.32 PM IST
- Rupee trade arrangement to help cut transactions cost: Piyush GoyalLast year, the RBI and finance ministry asked the top management of banks and representatives of trade bodies to push export and import tra...13 Apr, 2023, 05.21 PM IST
- Banks from 18 nations open 30 special vostro accounts for trade in rupeeSberbank and VTB Bank -- the largest and second-largest banks of Russia, respectively -- are the first foreign lenders to receive the appro...15 Mar, 2023, 07.03 PM IST
- Several banks open special vostro accounts for trade in rupee, more countries expressing interestCertain African countries that are facing foreign exchange problems and issues with US Dollar and Euro mobilisation are showing interest in...15 Feb, 2023, 06.08 PM IST
- 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...08 Jan, 2023, 11.47 PM IST
- Indian Banks' Association, FIEO to organise sensitisation programmes on promoting rupee tradeThe move to open the special vostro account clears the deck for settlement of payments in rupee for trade between India and Russia, enablin...08 Dec, 2022, 04.34 PM IST
- India, Belarus to explore trade settlement in Indian rupeesThe trade settlement arrangement, finalised by the RBI in July, entails Indian importers depositing rupees in special accounts that oversea...07 Dec, 2022, 07.53 AM IST
- Finance ministry holds review meeting with heads of banks to promote cross-border trade in rupeeFollowing detailed guidelines from the Reserve Bank of India (RBI) on cross-border trade transactions in domestic currency in July, about n...05 Dec, 2022, 09.31 PM IST
- Finmin to meet heads of banks on Dec 5 to promote cross-border trade in rupeeFollowing detailed guidelines from the Reserve Bank of India (RBI) on cross-border trade transactions in domestic currency in July, about n...29 Nov, 2022, 06.05 PM IST
- 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 ...21 Nov, 2022, 06.18 PM IST
- Post RBI nod, 9 vostro accounts opened to facilitate overseas trade in rupeeThe move to open the special vostro accounts clears the deck for settlement of payments in rupee for India-Russia trade, enabling cross-bor...16 Nov, 2022, 12.06 AM IST
- Nine Russian banks open special vostro accounts for trade in rupeeSberbank and VTB Bank -- the largest and second-largest banks of Russia, respectively -- are the first foreign lenders to receive the appro...15 Nov, 2022, 07.54 PM IST
- In boost to rupee trade mechanism, two Russian lenders open special vostro accountsRussia's two largest banks - Sberbank and VTB Banks - opened the accounts after receiving the nod from the RBI. Last month, state-owned UCO...23 Oct, 2022, 12.27 PM IST
- UCO Bank in process of opening special Vostro a/c with Russian Gazprombank to facilitate trade in rupeeUnder the Rupee Drawing Arrangements (RDAs), the bank of a partner country opens a special INR VOSTRO account with a bank in India. Prasad ...28 Sep, 2022, 09.18 PM IST
- Policy amended, international trade can now be settled in RupeeThe Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry on Friday notified the changes to the policy. T...17 Sep, 2022, 10.39 AM IST
- RBI introduces mechanism for international trade settlements in rupees"In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading co...11 Jul, 2022, 07.17 PM IST
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