Financial Express

India approves ‘vostro’ accounts for nine banks to help promote trade in rupees

Posted on by udyamita
India approves vostro accounts for nine banks to help promote trade in rupees
15
Nov

Quick Summary:

  • India wants to promote trade denominated in rupees, but the country has yet to see any international trade deals settled in its domestic currency. (File/Reuters)
  • India has given nine banks approval to open “vostro” accounts to help facilitate trade in rupees with Russia, federal trade secretary Sunil Barthwal said on Tuesday.
udyamita