In a significant step towards boosting bilateral trade in local currencies, the Reserve Bank of India (RBI) has approved 156 Special Rupee Vostro Accounts (SRVAs) across 26 Indian banks.

Reserve Bank of India (RBI) has permitted correspondent banks from 30 countries to open Special Rupee Vostro Accounts (SRVAs) with banks in India to facilitate cross-border trade in local currencies.

The RBI has also entered into local currency settlement system arrangements with select trade partner countries like the UAE, Indonesia and Maldives for encouraging settlement of cross-border ...

The panel also encouraged opening of rupee accounts for NRIs (other than vostro accounts of overseas banks) in and outside India. India has been trying to promote the use of the rupee in foreign ...

Fewer couples are combining their bank accounts. But that trend may not promote partners’ overall financial health, experts say. Nia Darville Stokes-Hicks and Armondi Stokes-Hicks started their ...

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The RBI has permitted opening of total 56 Special Rupee Vostro Accounts (SVRO) with 26 banks authorised to deal in foreign exchange transactions, the minister said in reply to a question in Rajya ...

Microsoft is making some changes to the way you sign in to a Microsoft account next month. Starting in February, you will stay signed in to a Microsoft account automatically unless you sign out or ...

In July 2022, an additional arrangement in the form of Special Rupee Vostro Account (SRVA) was introduced to encourage greater use of the rupee for trade transactions. Several foreign banks have ...

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