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20 banks open special vostro accounts for trade in rupee
short by Srishty Choudhury / on Wednesday, 15 February, 2023
As many as 20 banks, including HDFC Bank and UCO Bank, have opened special vostro accounts to facilitate overseas trade in rupee, DG of Foreign Trade Santosh Kumar Sarangi said. This move comes even as several countries have expressed interest to have arrangement for rupee trade. Bangladesh, Sri Lanka and Mauritius are also taking initiatives to open rupee vostro accounts.
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