Searched for
VOSTRO ACCOUNTS
India, Russia explore digital currency payments for trade in cross-border breakthroughIndia and Russia are exploring digital currency payments for bilateral trade, potentially opening a faster route for cross-border settlemen...- Cross-border trade in local currencies reduces transaction costs: RBI deputy governorLocal currencies will increasingly drive cross-border trade and payments, reducing costs and improving efficiency. Technology will be lever...
- America hurting its own interest; India well-insulated against US tariffs on Russian oil, expert saysIndia's economy shows resilience against US sanctions on Russian crude oil. Potential tariffs on nations buying Russian oil will minimally ...
- RBI plans unified code for foreign investment in equity instrumentsThe Reserve Bank of India proposed new rules for overseas fund flows. These draft norms will replace existing regulations governing foreign...
- 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 ...
- 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...
- 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
