Searched for
VOSTRO ACCOUNTS
India, UAE step up efforts to expand re-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 efforts boost rupee usage, yet global adoption remains limitedDespite RBI's efforts to boost rupee usage in international trade, including Special Rupee Vostro Accounts, its adoption for invoicing and ...
- 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...
- 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...
- 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 ...
- 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...
- Four more foreign lenders approach Uco Bank for opening special Rupee Vostro AccountsTwo of these banks are from Russia, he said. "We will soon approach the Reserve Bank of India for approval," he said. Uco has already opene...
- ICICI Bank offers a network of Rupee Vostro Accounts, expedites settlement of trade in rupeeThe latest initiative is in line with FTP 2023 and RBI’s framework for settlement of exports or imports in the Indian rupee.
- 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...
- 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...
- 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...
- 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 ...
- 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...
- 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...
- 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...
- 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 ...
- 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...
- RBI for check on flow of foreign funds to charitiesThe RBI has invited comments by December 21 on the draft instructions on vostro accounts - a tool for transferring funds by people abroad. ...
Load More
