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Banks from 18 nations get nod for Vostro accounts for rupee trade
The Reserve Bank of India (RBI) has granted approvals to banks from 18 countries, including UK and Germany, to open Vostro accounts to settle international trade in rupees, MoS for Finance Bhagwat Karad told the Rajya Sabha on Tuesday. RBI had in July 2022 announced the setting up of a mechanism to settle international trade in rupees.
read more at Moneycontrol